They charge a lot because it takes work and money to market, it is hard to get licensed and become a real estate agent, they have to pay for dues and insurance and real estate agents usually have to split their commissions with their broker.
The biggest reason a real estate agent gets paid so much is they are worth it!
Can real estate agents make a lot of money?
On average, members of the National Association of Realtors complete 12 transactions each year. Newer real estate agents will likely sell even fewer houses, and have lower incomes. According to the Bureau of Labor Statistics, the average real estate agent earns $45,990 each year, but the range in income is massive.
How long does it take to start making money as a real estate agent?
It takes them a year or longer to start making consistent money and some give up before they make it. It is hard to say it will take three months or six months before a new agent will make enough money to support themselves because everyone is different.
Is real estate a good job?
Becoming successful and making a sustainable income as a real estate broker or sales agent is hard work and, in most cases, requires a substantial commitment of time, effort, and even money. Read on to see whether a real estate career is a good fit for you.
How can I be successful in real estate?
9 tips for becoming a successful real estate agent
- Partner with other agents.
- Use a publicist.
- Pitch stories to reporters.
- Tap vendors and investors for leads.
- Host lots of open houses.
- Don’t turn down any deals.
- Maintain connections with past clients and referral sources.
- Hire a real estate coach.