09/12/2023
We never really understand what work goes into different careers. We just see the finished product and think, they're lucky when we see success.
When it comes to being a Realtor, this is what it looks like:
When someone asks what a real estate agent does to earn their commission. This is the best response I’ve ever seen:
"The public has a lot of misconceptions of REALTORS. I have decided to educate my friends here. The average full time REALTORs salary last year was $31,900 which is below the living wage. As a REALTOR we do not get paid a hourly wage or salary and we only get paid if we sell a home and it closes. We can only get paid by broker to broker. As an agent you could work with someone days, weeks, months, or years with no guarantee of a sale ever. Essentially we wake up each day unemployed going on Job Interviews and we deal with constant rejection. We dedicate time away from family, use our time, gas, pay for babysitters, miss dinner and weekends. You constantly need to be on, or you could miss a opportunity. Once we do close a home, half goes to the other persons agent From the remaining half. We have lots of upfront expenses that are paid out before we even get paid. Broker Splits and Fees
MLS Fees
NAR Fees
Local Association Fees
E&O Business Insurance
Extended Auto Insurance
Self-Employment Tax
State Licensing Fees
Advertising Fees
Showing Service Fees
Website Fees
Assistant's Salaries
Yard Signs
Photographers
Videographers
Office Supplies
Business Cards
Property Flyers
Electronic Lockboxes
Continued RE Education
Legal Fees
Gas
Transaction Coordinator Fees
Income taxes are not taken out so we have to put that aside around 25-30%.
As a listing agent we have lots of tasks far more then just selling a home.
1. Prepare Listing Presentation for Sellers
2. Research Sellers Property Tax Info
3. Research Comparable Sold Properties for Sellers
4. Determine Average Days on Market
5. Gather Info From Sellers About Their Home
6. Meet With Sellers at Their Home
7. Get To Know Their Home
8. Present Listing Presentation
9. Advise on Repairs and/or Upgrades
10. Provide Home Seller To-Do Checklist
11. Explain Current Market Conditions
12. Discuss Seller’s Goals
13. Share Your Value Proposition
14. Explain Benefits of Your Brokerage
15. Present Your Marketing Options
16. Explain Video Marketing Strategies
17. Demonstrate 3D Tour Marketing
18. Explain Buyer & Seller Agency Relationships
19. Describe the Buyer Pre-Screening Process
20. Create Internal File for Transaction.. any much, much, super much more
As a buyers agent we also have many tasks.
1. Schedule Time To Meet Buyers
2. Prepare Buyers Guide & Presentation
3. Meet Buyers and Discuss Their Goals
4. Explain Buyer & Seller Agency Relationships
5. Discuss Different Types of Financing Options
6. Help Buyers Find a Mortgage Lender
7. Obtain Pre-Approval Letter from Their Lender
8. Explain What You Do For Buyers As A Realtor
9. Provide Overview of Current Market Conditions
10. Explain Your Company’s Value to Buyers
11. Discuss Earnest Money Deposits
12. Explain Home Inspection Process
13. Educate Buyers About Local Neighborhoods
14. Discuss Foreclosures & Short Sales
15. Gather Needs & Wants Of Their Next Home
16. Explain School Districts Effect on Home Values
17. Explain Recording Devices During Showings
18. Learn All Buyer Goals & Make A Plan
19. Create Internal File for Buyers Records
20. Send Buyers Homes Within Their Criteria.. any much, much, super much more
We also act as a counselor, advocate, make or set up repairs, clean up messes in homes, yard, pools, provide accommodations, drive and entertain the clients with our time and money before a sale is ever made.
You don't need to buy or sell a home to support my real estate business – here are just a few simple ways to show your support! By sharing one of my listings, sending a friend or family member my way, letting me connect you with agents outside my area for a broker to broker referral, or leaving me a positive comment or review, this helps me feel seen and supported - (thanks to you)!.
And that... That’s exactly what friends are for.
There is a price to pay when you choose Freedom over Security!
