How are you your own boss as a real estate sales agent?

In order to be a real estate agent and work in the state where you received your real estate license, all states

require you to work under the licensed of an experienced person, called a real estate broker. This person would be there to solve any potential problems of a newly licensed real estate agent.

The real estate broker would make sure the real estate laws governing sales and listings are legally done. You are accountable to your real estate broker, basically for moral and legal support.

This real estate broker would not be required to pay you a salary as if you worked for General Motors and would be scheduled to perform your job a a certain time and manner.

In order to earn a salary, called a commission, it is required of you to list a house for sale or sale a house that is listed for sale. You would have a contract with your real estate broker as to the percentage of the commission you would be paid for selling a house or listing a house that sold.

You would not earn a single dime if you never sold a listing or list a house that sold.

A seasoned productive real estate agent might be able to demand 75% or more of the real estate commission, while a rookie real estate agent would be limited to around 50% or so.There might be a basic commission of 50% for each house you sell or a house you list that sale and escalation clause might be in your commission agreement. In the event you sell 2 houses or list 2 houses that are sold, you would get the basic commission. If you sell 3-4 your commission could be 65%, over 5 houses you would be able to get 75%.

You would be on your own in preparing and making a marketing plan that would place you in a position to be successful in the real estate career. Without this marketing plan you would not be placing yourself in a

position to succeed.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

As a licensed agent, your income is generated through commissions earned by listing or selling properties at close of escrow. You have to pay for your own expenses (desk space, car, phone and advertising). The Broker provides the building, liability insurance, legal advice and local, regional or national recognition. The commissions are split between the listing and selling agents who then pay a portion to their individual brokers. It is your business because you have expenses and only make money base on sales.

You are not your own boss if you work for a realty company. If you own the company, then you are your own boss. However, realtors do not have regular 8 - 5 hours where they sit at a desk and are monitored by a supervisor. They are out and about showing houses, getting listings, on the internet checking properties. To some degree, their days are flexible. They still have to produce if they want to keep their job because the company they work for gets a portion/percentage of the income they make.

Estate agents don't HAVE to also be brokers. There are plenty of agents who are just self employed agents.

You are your own boss by virtue of setting how hard and how long you work. Yes you will have some dictated hours you must be at the office, but the rest of the hours you work (going and getting listings) is up to you. How hard and how long you work will directly affect how well you are ultimately paid.

you don;t get a paycheck - you only get paid when you participate in a house sale - you get a share of the sales commission and you pay all your your taxes - it can be months between getting paid - especially when first starting out