I pay $250 per transaction, $25 broker review fee, and $40 for E&O insurance. Details here kzfaq.info/get/bejne/pqiFhcp-ms3Ykqc.html

I don’t understand why talking about money is so frowned upon. We need to educate our selfs with it or we will forever be broke

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

⚠️ ⚠️ It depends if you have a large sphere of influence and can work for a company where you pay no fees, and have a 90-100% split or if you are on a team and get leads because you can’t survive on your own, so you make 30-60% of your commission. Most new agents need a team because they don’t have a built in sphere of people ready to buy 15+ properties a year from them. So you can expect to make roughly 40k to 70k a year by your second and third year depending on which avenue you take. As an agent on a team you probably would make 3-5k per transaction depending on where you live and how much homes cost. But say you average 400k homes, you sell 10 and do 4 million in volume. That’s likely a slightly just slightly below average agent on a team and they would probably make somewhere around 45-70k for that amount of production. I average around 25 sales a year for my team and I make 115-160k a year doing around 10-13 million in volume. If I did that on my own with a great split I would make around 250-325k a year. But I do not have the repeat clients and the sphere or network to keep myself afloat yet. I’m getting there though!!

That “before fees” part though. Lol. Always a killer 😪

Never understood the whole “disrespect” thing when asking someone about how much they make I own a RV dealership I’ve been asked numerous times how much I make or questions like “is the business even worth it” “does it make good money” stuff like that and never once have I ever felt disrespected by that question

Don’t forget there are fees you pay. Marketing and broker fees to deduct

Real estate agents DO NOT get the entire commission... it's split with the Brokerage company you work for and it depends on what you can negotiate with your company

I dropped out of college last year to pursue my dream of becoming a real estate agent and it worked. It’s really worth it and I have no regrets. Been an amazing journey but it’s not as easy as I thought anyways

80% of agents make less than $50k a year.

This is not an easy answered question I've had a friend make 20k in a month and then not make shit for a month and half almost 2

The walk in the beginning 🤣🤣

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

Nice!! I just got my license My goal is to sell 4 houses a month!

You work hard and very smart. I like that in people to influence others to do the same

Be careful saying “the commission rate In My Area, is ___” that could be mistaken for price fixing, which is illegal via the Sherman Antitrust Act. Commission rates are always negotiable! A better approach would be to say “the commission rate on these listings was __” or “I got a commission of ___ on these listings”. Just trying to look out for you, keep up the good work!

I like how transparent you are brotha, also keep up the good work !

Don’t forget taxes, brokerage fees, marketing, transaction coordinator, overhead if you run a team, office rental etc. One time I paid over $30,000 in taxes. It was a wake up call.

I’ve been struggling to make end’s meet and I’ve also been wanting to get into real estate. Then I saw this vid and immediately I became inspired. Thank you queen, I also subbed! 🙏🏻

l would never ask a co worker, but I watch a video like this to find out all I can about becoming a real estate agent.. so $$$ is certainly a factor choosing a new career.

Leave my man's alone the way he says "asked"🤣great vid homie

Congratulations bro. Keep up the great work.

“If i was to ask you, you’d probably get offended but since i make so much more that you I feel comfortable answering that question”

Now consider that RE Agents are independent contractors. As such they only get paid if they close a deal. The brokerage house they are required to work in partnership with get's a cut so, the net commission he receives might be roughly 70% of the total (might be less for newbies). After that he has to consider taxes, which do not get deducted from his commissions so put aside roughly 30% for that. The point is, the commissions he showed are subject to deductions before he gets his net commission. It's a tough business and since there is no salary, sick days, holiday pay, vacation pay and you work until you actually get paid anything, it is not a business for those who think it all come to you magically. You really have to work hard for every dime. Statistically, 70% of all newly licensed agents will quit within 90 days never to return because they have not closed even one deal.

Congrats! Being a Realtor is the best feeling! Keep up the good work.

Passing the Real Estate exam is when you study hard, if you can’t study or you don’t have time for your studies I’d advise you get yourself a help like Mr James William

Trust me I am more then willing to share how much money I make, I dont know why talking about wages has become such a taboo.

As an agent, it all comes down to your market, splits, resources, and how bad you really want it. It will be 2 years since I became a realtor in December

Some lady got offended when I asked how much was the new house she and her bf bought. I didn't know that was frowned upon. 😂

The fees are heavy

*The NBA Youngboy feet & walk at the beginning is CRAAZZY* 🤦🏾‍♂️😭😂

Lol I love the before fees caption and emoji. So true lol. Not too mention other expenses

Not only that you don't get the entire 3% the broker gets his cut minus fees and the advertising for the property

I just took the last test that I needed to be able to do my state and national exam, best decision I ever made and IV barely even started.

Most people who ask how much we make are not asking for authentic reasons. Bur to judge us

Of my realtor say "ax" I'm getting a new realtor.

People who work at McDonald’s don’t even make this in a year, he’s making this in a month, props hard work pays off

probably because most buyers find the homes themselves 😂

In my country ppl were offended by asking about money before they understood how boss is screwing them up asking to be silent about it. Discuss your money if necessary ppl :)

Your response to people asking a genuine question about an industry they may or may not want to indulge in makes me not want to purchase a house from you. Just a tip for future reference 👍🏾

“Axed” vs “Asked”

Before fees* 😭🤭😂 yae I forgot about those

Arizona pays 5.58 % commission yes you do split it with your brokerage depending on wat you negotiate but with that being said my sister sold 3 houses in a month 3 months ago and she received beetween those 3 homes like 24,000 dollars in commission in a month that’s crazy money

48k. Say you have a 70/30 split with your broker. There goes 14.4 immediately, then you have Uncle Sam. Since you’re 1099 you’d be wise with withhold 30% which is another 10k. Down to 23, then you have all of your fees, dues, and expenses of listing those homes, photos/drone, open houses, closing gifts. If you have an office admin or assistant you pay is also extra. Say another 5-7k…so from 48 will be lucky to clear 17-18.

Right now? As much as they want.

He left out that that 3% he splits it 70/30 with the broker then he is also responsible for about 25% in taxes on that 3% because agents are independent contractors. Tell THE WHOLE STORY BRO

I know we have to save alot and also pay taxes on that amount we make.This was a good easy breakdown for people.

Appreciate your tips! I’m a loan officer and can relate

Don't forget commissions and monthly dues. That's the killer. You still got paid though!!! Good job!

More real estate agent than actual homes for sale.

Thats really good money for one month. i was making like 12 grand every month but something else, but right now they cut our budget, and im making like half, and im suffering, so i want to get into real estate and make that kind of money, i got into car dealer ships for a long time but i didnt like it, too much fraud goes on with the cars. Thank you for sharing, bro!!! `

Ok but what about after like broker fees and sharing with any partners who helped .. And staging / open house/ marketing costs etc. And over what period of time.

That was probably gross commission before you deduct your tax rate & expenses. I guess you already paid your broker split. If not that's another 1.5% less

Isn't there like a split commission with the real estate broker, like 40/60? So, if that's the case, he makes less than what he is saying.

It such a hard question to answer because anything can happen from the time of putting in an offer to actually handing over the keys to the client!

You cannot say commission rate in your area. Commission is negotiable anywhere any time.

Love how far you’ve come

Then you paid expenses, then your firm cut, next came taxes, you're back down to Walmart manager pay

"Another question I get axed alot" always gets me, love your work and im subscribe to the email notification long time sub god bless your work

I love this cus ppl dont want to talk about money and if we dont learn what we can have how would we want it

How long did it take to sell all of those houses

What’s your average for the past 36 months?

I love the way how you walk 😅😂😂

Before fees is the key

People get mad about their pay because they know they really don’t make shit 🤣🤣🤣

You get that "axed" a lot?

what’s your baseline profit?

To new agents this a great outcome his pipeline is strong plz don't think coming in it's like this just keep a open mind congratulations to this gentleman on his commissions one question should be asked hoe long has he been in the game.

Is this a question you get axed a lot? 😂

Will the %3 commision apply for working under a real estate company?

You killed it that month 💪💪💪💪

Can I study at home on my own without doing courses? I have all the champion books and other things I’ve invested in to pass. Is that possible?

damn, never knew I could axe a question. you learn something new every day

48k isn't that bad but it's such a small amount compared to how much you sold the houses for

Right! I can’t believe ppl ask this so boldly 😂

Don’t forget fees are also negotiable. Not every agent makes 3%. It depends on the negotiation

If you can't say "asked" correctly then I'm not trusting you with my home purchase

And still mot enough to learn how to say axed

Former instructor used an example of an agent who sold a mansion locally in a lake community. She was left with a $30,000 commission from ONE transaction. Whether he exaggerated or not, it does all depend on the properties the broker sells. Million dollar homes, even commercial properties comes with bigger commissions. Nobody gets into real estate having fear of facing poverty. People get in it for the money.

How much did you make after the fees?

Congrats on your success keep up the good work 👏 🙌 👍

So how much is it after taxes?

I really want to network with you! But I'm attending college right now to get my real e states college! 😃🤝💪

How much after “fees”? Like brokerage fees, a guy for the company you work for?

I had a neighbor ask me how much I made. I was taken aback cause she had only said “hi” prior to that and I didn’t know her from Eve. When I asked why she said it was because he daughter is a millionaire and could help me. (Unsure of what I needed help with cause I was just walking to my car to drive to work). When I told her I wasn’t comfortable answering that question and that I had to go, she said, AND I QUOTE, “I need to go, too. My husband is Shemar Moore and he’s waiting for me”. This is why I don’t like that question. Especially from strangers. It’s just odd to ask unless you work together. And no, she never got the help she needed.

But over how many months and what are your brokers splits?

and how much would you have after fees and taxes?

But dang you can kill debt or do good things with chunks of money vs that weekly, bi-weekly mess

Any fees associated with being a realtor can be used as tax deductions and can therefore lower your tax liability just like any other biz .

Sold 4 houses for 1 million and only made48k .. that’s wild

That's pretty much anything I life you get what you give out. Take being a trucker which I am if you always want to be home you won't make too much money but if you a hustler and get at it, you will be pretty happy with your return

Do you sell your future commissions for discounted cash offers now

I want to become real estate agent, how do i start? Where can i get classes?

Hi, I want to go to school and get license. I live in Houston. Any advice?

What part of Texas do you do real estate mostly?

Nice job! Now you have taxes to pay for, advertising costs, transaction fees, also do you split your money or get 100%? There’s a lot to it and it’s not easy as people think it is or everyone would be doing it!

What was the brokerage split? That’s a drastic difference

What is the cost of fees after a home sale other than taxes?

Real estate agent jobs are basically sales jobs, if you are not a good sales person then you won't eat. Obtaining a bachelor degree and a good paying accounting job sounds like a safer thing unless you want to become rich and own your own brokerage.

The better question is where did you get the leads??