Saturday, May 26, 2007

Rich Realtors®

Are you thinking about entering into the lucrative world of Real Estate Sales. Have you decided that your day job is too hard and you want to make pots of money without doing anything just like the local REALTORS® do?

Well maybe you should read this article before you send in your resignation.. it's from the Department of Labor and talks about what is involved in selling real estate and more important what you can expect to make.

Below are a few highlights:

Significant Points:
Real estate brokers and sales agents often work evenings and weekends and usually are on call to suit the needs of clients.

A license is required in every State and the District of Columbia.

Although gaining a job may be relatively easy, beginning workers may face competition from well-established, more experienced agents and brokers in obtaining listings and in closing an adequate number of sales.

Employment is sensitive to swings in the economy, especially interest rates; during periods of declining economic activity and increasing interest rates, the volume of sales and the resulting demand for sales workers fall.

Median Earnings:
The figures are from 2004 but are probably still fairly accurate ..

The median annual earnings of salaried real estate sales agents, including commissions, were $35,670 in May 2004. The middle 50 percent earned between $23,500 and $58,110 a year. The lowest 10 percent earned less than $17,600, and the highest 10 percent earned more than $92,770. Median hourly earnings in the industries employing the largest number of real estate sales agents in May 2004 were as follows:
Residential building construction:

Offices of real estate agents and brokers:

Activities related to real estate:

Lessors of real estate:

Currently there are somewhere between 491,000-500,000 people with a real estate license in California. Acording to Data Quick the total number of home sales in California in 2006 was 557,782 or just about one sale per licensee. Even with record sale prices in California those are some tough odds. That's not to say that some agents do not earn a healthy income.. they do. But they have to work very hard to make that income. A successful career in real estate is not for the faint hearted.

However if it is something that you love and really want to do it is also tremendously rewarding. Watching the face of a first time buyer when they realize that they own a home is priceless. Helping a seller who has to relocate get their home sold on time so they can concentrate on moving without any hassles is a great feeling. Although we sell property our business is really about people.

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