Real Estate Agents - Question for y’all

[haas0311]

I am strongly considering making a career move from the O&G industry and am weighing my options. I have a few questions about real estate and the hours to family time scenario also potential, realistic, salaries that can be expected for someone breaking out in the industry. I would like to be either close to or at what I am making now salary wise. If you’d rather PM, I completely understand and I would appreciate any and all advice.


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[4x4 AG]

shot you a PM.

[yaqui]

The harder you work, the more people you know (and their demographic), are they buyers or holders, and the more personable you are will make a big difference. I suggested a friend to get into the industry a few years ago, she has done very well. Her husband quit his job to do the same. He just doesn't have it.

[Throwin Darts]

Most real estate agents don't make a salary

[rvd]

Most real estate agents don't make a salary

True. Only one's I've ever known to were selling lots/houses for a Developer and it was a very minimal salary + commission.

[Sunnylab]

You will need to learn to live with inconsistent income and no benefits, or have an additional source of income.

Most agents who have been in the business for quite sometime have a spouse providing health insurance/retirement and consistent income...or they have income producing assets to supplement during dry spells. I don't care how good you are, you will not have a closing every month of the year every single year. Just doesn't work that way.

[Hogmauler]

You will need to learn to live with inconsistent income and no benefits, or have an additional source of income.

Most agents who have been in the business for quite sometime have a spouse providing health insurance/retirement and consistent income...or they have income producing assets to supplement during dry spells. I don't care how good you are, you will not have a closing every month of the year every single year. Just doesn't work that way.

This again.

[txoutdoorsman24]

I’m still in the O&G industry and now have my real estate license. I don’t chase every single lead bc I don’t need or want to. I keep it simple with a handful of active clients per month. I personally got into RE just to make residual income and pay for my toys and such. My goal was to and still is to have a couple closings a month. 10-20 transactions a year for me is perfect. Since February, I have 3 closed, 2 more this month, 1 listing which will be going under contract today, and 2 new upcoming listings (1mil & serveral Mil). If I can get all those transactions done this year I will have passed my monetary goal for what I set out to do this year. Honestly I will never go full time unless the O&G industry goes away. Plus this current RE market is nearing its end, another 12-24 months for some areas and things will slow to a stand still. (My opinion). Everything is great right now but it won’t be this way for ever.
On the other hand, my MIL is a full time agent and she is nuts right now. Has 20 plus listings at all times and buyers galore but she chooses to chase any and everything. Granted she never has time to do anything or time to even put her phone down but she chose to do that. Granted she clears 400k a year but it’s all about how much you want to work ya know. She’s constantly beeching about something and how much she works but I always remind her you choosing to do everything.

[txtrophy85]

On the other hand, my MIL is a full time agent and she is nuts right now. Has 20 plus listings at all times and buyers galore but she chooses to chase any and everything. Granted she never has time to do anything or time to even put her phone down but she chose to do that. Granted she clears 400k a year but it’s all about how much you want to work ya know. She’s constantly beeching about something and how much she works but I always remind her you choosing to do everything.

You wanna make the big bucks it comes at a price.

[Darton]

Don't quit your day job until you can make the equivalent as an agent. Many things to consider from taxes to benefits, and then to retirement. In the current environment time at home will be non existent. I run 7 days a week and have been for a couple of years now. The key is to have several income streams coming in so that when the bottom falls out, which it will, you will weather the storm when others sink. Many of the things said above are spot on! The average agent take home is $7500 a year, so let that sink in a minute! The ones that succeed do not work a 40 hr week! Feel free to PM me if you have any other questions!

[LFD2037]

It’ll suck soon when the market craps the bed.

[Raider Power]

You will need to learn to live with inconsistent income and no benefits, or have an additional source of income.

Most agents who have been in the business for quite sometime have a spouse providing health insurance/retirement and consistent income...or they have income producing assets to supplement during dry spells. I don't care how good you are, you will not have a closing every month of the year every single year. Just doesn't work that way.

My wife is an agent and the first order of business after we got married was getting her on my health insurance plan and getting her off her chitty one.

[Firefyter]

I’d go with being an appraiser over an agent if possible.

[txoutdoorsman24]

You wanna make the big bucks it comes at a price.

Yessir it does!!!

[Bear82]

Sounds like ranchers and real estate agents have one thing in common. You need a spouse in a different business to make consistent money.

Buying and selling land as an investor makes me want to get my real estate license. But then sometimes I think I dont want to have to deal with people. Right now is easy money but when things get bad, a lot of people will be hurting.