How Real Estate Agents are Paid
No sale = no commission.
Part of any commission goes to the owner of the brokerage; the agent only gets a percentage and the boss gets the rest.
For this reason, selling property is a job one absolutely must be good at in order to survive. Unlike most professions where you earn a set wage, and often get paid whether your performance is stellar or not, a real estate agent lives on their successes and goes hungry if they can’t sell. And because the boss gets a cut, if the agent isn’t performing, the boss isn’t getting their taste, either…hence, they wouldn’t have much reason to retain that agent!
Sound cutthroat? Well, it’s not for the timid! And while most felons aren’t “timid,” they must take an honest and objective assessment of their personal attributes. Do they have the soft people skills needed to be a successful salesperson? Have they got the eye for detail required to fill in hundreds of pages of boring property-related forms, making sure they are all error-free? Does getting out and driving to properties around town to show them off to buyers sound fun, or more like a hassle?
Okay, if you’ve taken the above into consideration, and are still ready to learn more, then let’s continue to get into the nitty gritty!