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How Long Would It Take To Earn My First Real Estate Commission?
Readers Question:
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I am now in real estate school and I want to know what I have to look forward to. Once I get started with an agency full time, how long will it take to see my first commission?
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Why wait a second longer to get quality answers to the real estate questions you have been dying to ask! Become a part of the largest real estate training community today and see how much fun real estate really can be.
December 6th, 2009 at 1:32 pm
Hi Melissa! Welcome to the wonderful world of real estate! That’s a great question for you to ask your RE Teacher. Also, are you planning on working with a large re company or an independent? My suggestion is start off with a business plan. Notify your sphere of influence….tell your family, friends, neighbors, so they will tell their family, friends, neighbors, etc., send out announcement cards, then follow up with phone calls to your sphere. Word of mouth is the best advertising and it’s free. Try to get a listing so you can meet buyers. If you can’t get a listing soon, offer to do as many open houses for other agents as you can. Get out there and network. Go after expireds and fsbo’s. Have many things going on at a time because wasting time means there’s a gap between paychecks. I have quite a few active buyers right now, some I have just recently met and others I have been showing properties to for the past 4 to 5 months and some longer. Anyway, typically, 45 days to closing and then you get paid. Good Luck….any questions, feel free to email!
December 6th, 2009 at 4:44 pm
Somewhere between a month and five years.
December 6th, 2009 at 9:03 pm
That’s a difficult question to answer!
How hard are you willing to work?
Your best bet is to partner up with someone to start out! That way you get the benefit of working with clients right away. Otherwise, you have to prospect for your first client and that could take awhile.
Good luck.
December 7th, 2009 at 12:45 am
Lordy! U need to determine if you want a split office or 100% office
[one where you pay nothing vs
you pay $25 to 2500 a mo DESK FEE]
and if you want to list or rep buyer’s only……and then do commercial,
industrial, land and residential.
from the time the perfect deal lands
in your lap–till escrow closes,
it can be 1 mo to 1 yr.
and…..you need to know WHEN
your broker pays! Some wait
for an arbitrary time frame AFTER COE.
Luck to you!
December 7th, 2009 at 3:37 am
There are agents in my office that say they didn’t sell anything the first year they were licensed and working full time.
It is about impossible to guess how long it will take before you see your first check. YOu could sell something your first day and not get a check for 3 months.
But there are some new agents in my area that have hit the ground running and are doing great.
It all depends on you.
December 7th, 2009 at 9:47 am
Depends on what you do to generate business. The faster and more business you generate obviously the faster you get the reward. It took me 3 months. And my first deal was a buyer who was a friend. But every year I have done more transactions(even this year when the market is down).Good Luck!