gregorygarver.com

[Homepro2007]

Im so interested in real estate, and just wondering if i should get my license..Also if a home is sold, what percentage go to the realtor??

[sahel578]

Well, as a realtor, your income is completely based on what you sell. You don't get a salary. You are pretty much self-employed with a broker. You typically get 3% as the buyer's agent and 3% as the seller's agent. But, it is illegal to try to SET a market rate. The rate (technically) is established between the agent and their client each time a contract is written.Real estate is tough to break into. You need to plan to go 6 months to a year without any income. You have to pay your broker's fees, E&O insurance, your Realtor dues, advertising fees, etc.Talk to some realtors in your area. See if they will mentor you. Do some open houses with them.There are many POOR realtors out there. You have to handle money well and realise that selling a $200,000 house does not put $6,000 in your pocket. There are lots of fees and expenses involved.

[SonnyE]

When the real estate market is good, it's an excellent career choice. Unfortunately, it is a profession that is very sensitive to economic cycles, so if you choose it, make sure you are capable of saving for when the bad times are around.Typically, the selling agent gets 3% of the transaction sale amount and the buying agent, 3%. If an agent is lucky enough to be handling "both sides" of the transaction, his/her take is the whole 6%. These percentages are not fixed, they are typical amounts of commission. Commission percentages are driven by supply and demand conditions of the real estate market.

[fk888]

On a 6 percent commission, the agent will be lucky to get 2 percent. The broker get his/her share.

[jonez1]

Real Estate is a great career as long as you can handle the ups and downs of the market. In a typical Real Estate transaction, one agent brings in the buyer and one agent brings in the seller. Typically, each agent works for a Real Estate Company that is ultimately responsible for the actions of the agent. Therefore, they will keep part of the commision. How much of the commision they keep depends on the contract the agent has with the company. The listing agent negotiates the total commission to be paid with the seller of the home. Although there is no set commission structure, let's say the agreed upon commision is 6% of the selling price. In this transaction, each company would probably get half of the total commission or 3% of the selling price. Real Estate agents get a "split" of the commission from the company. When the agent is new, your broker will be doing a lot of work for you and will expect to be paid more for it. In other words, your split will be lower-say 50-60% of what the company gets. When you get more experience you can negotiate your split higher. My best advice is to start working for a large company because they will usually have more training and support available for you. However they usually keep more of your split for helping you. Sadly, once you get experience, it is usually easier to move to a different company than to negotiate a larger split.I hope this helps.

[JackieM]

The market really sucks right now because no one has any money to buy a house really. Right now the market is flooded with houses that are reposesedbecause people couldnt pay their mortgage anyway. The realtor gets a standard 6 percent unless otherwise decided between the realtor and buyer/seller