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What is the starting pay in real estate?

What do you start off receiving as a real estate agent?

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George’s Answer

Hi Joseph, there isn't really a straight forward way to answer this. If you are going to work as a residential real estate agent there is generally no base pay. It is 100 percent commission. Some younger agents start off by joining a team as a buyers agent or other role. A buyers agent will generally do buyer showings for an established agent and then receive an agreed upon percentage of the commission when they buy. The team may also have an opportunity to share in leads that come into the office, for example they may pay for zillow leads that you get a certain number of per month. Again, this is generally not a salaried position but every team is different.

If you are hoping to have some base pay starting out you may be able to get a job as an assistant to an established agent and learn from there. I hope that helps.
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Cam’s Answer

Real estate agent pay depends on the number of real estate transactions they close. The number of real estate transactions depends on how many people are buying/selling properties in a particular area. Real estate has historically been sensitive to interest rates. To get a better sense for compensation, I would look into the average salary for real estate agents in your area. Real estate agents typically start below the average and compensation grows as they build a client base.
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John’s Answer

Hi Joseph,

I agree with George and Cam's answers. Also, real estate can be a very financially rewarding career. But it's not easy to get started. I'm assuming you are still in Highschool which helps a lot. You can build your real estate career now while still living at home. You won't have to worry about paying so many bills wondering if you'll get a listing or a buyer this month! I wrote an article on how to get started as an agent I think you might like. It assumes you start as an assistant. Doing so adds some predictability to your pay and gives you the opportunity to learn from an experienced agent.

https://www.careervillage.org/questions/617038/how-do-become-a-real-estate-agent

Here is an article on where to buy real estate that may interest you:

https://www.careervillage.org/questions/616997/what-is-the-best-place-to-buy-real-estate

Best of luck!

-John

John recommends the following next steps:

Read the attached articles
Get your real estate license (If you are too young by law, go as far as you can.) Some states may require you be 18. But there's no age limit on studying
Get a job as a real estate agent's assistant
Get a job as a handyman's helper
Stay in school. Your classmates will soon be buying houses from YOU!
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