@ChastinJMiles Your vid just popped up into my feed and I am so glad that it did. I am interested in changing fields and would love to connect with you. Do you ever host any lives? If so, please send deets. All the best!
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.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
⚠️ ⚠️ 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!!
Damnnnn, do you think that’s the average salary for a Commercial areal estate advisor? Currently I am working a job where I make $160,000 but am thinking about switching to Commercial Real Estate because I was told I could make $250,000 per year.
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
I subscribed $1000 for the questions and answers and paid $500. Then completed my payment to her after my result. I only studied the questions and answers she provided me for few days, and was shocked to see the same questions she provided me on the day of my exam.
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
@@dylang8176 that’s not true. Yes commission is 6%… 3% goes to the seller brokerage and 3% goes to the buyers brokerage. Then the 3% is divided by how you negotiate with your broker. So it might be a 70%-30% split
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
@@lwilson2650 well these last 2 years have been very very lucrative due to the chip shortage I’ve sold motorhomes and trailers for prices that I can’t even imagine selling them for years ago don’t have an exact number without looking at paperwork but I would definitely say I’ve grossed a decent amount over 7 figures probably around 1.2m or 1.3m not counting what I had to pay my employees and I really don’t see the disrespect in you asking that lol
@@romeothompson9389 ok so 1.2 before you pay and take out taxes That’s decent and probably why you aren’t offended Real estate agents get mad cuz they know they’re overpaid Imagine giving house tours and making 500k a year as an employee and barely working Granted that’s only the ones that make it the rest quit cuz they don’t land the cushy job But that’s why they get offended Vs being a business owner with risks and investments that justify your high incomd
Right! Unless he is a broker. He gets a percentage of the 3%. Or more f he is 100% commission he is still getting hit with fees (cap, administrative fee etc)
@@Stricknines lol yeah, when it comes to social media & real estate first thing that comes to mind is: “opinions are like assholes, everybody has one” lol they speak without truly knowing what they’re speaking about. Then will go relay that information with such confidence. Spreading lies.
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!
Commercial RE is even more sporadic in commissions. Been in it since late 2019 specializing in Industrial assets. 1st year I was a tenant rep, built my pipeline, and closed 7 deals. Made 85k after splits with 3.2mil in transaction volume. 2nd year moved to listings and only closed 4 deals but made 178k after splits from 16.6 in volume. This year I've closed 8.3 so far and made 116k after splits. Residential can do so much more volume than us, but we don't have to work weekends or lose a deal over counter tops :). On the flip side, having no emotional attachment leads to quick and unexpected losses, like 10mil (or 140k in income) in a week :(. Avg CRE agent makes 80-150k a year. Top 10% of earners will do 7 figures +.
@@TheDayisMineTrebeck i just turned 20 and im trying to become an agent and investor since i was 18. im in nj and going to re school, what should i expect from this industry? what are the right questions tht i should be asking my teacher?
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
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.
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
@@patrickburton4270 Yes you’re correct but remember heaven helps those who help themselves, try studying if you can’t study then get yourself a good help
I love how he say I sold it for x amount. As if the owner only wanted 10k but he got him 415k. No that's the market. You didn't sell ot for 415k the property demanded that based on market value. Had nothing to do with the agent. these prices are starter homes in the current market
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.
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 👍🏾
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.
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.
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
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.
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.
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!!! `
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
Preferred commission rates are determined by brokers individually but legally they are always negotiable based on the work being done by the agent/brokerage. Standard rates are not allowed, therefore maintaining a competitive environment and avoid price fixing.
You’re correct, he also he omitted whether it was after tax or before tax. The amount he made in one month is not really accurate because settlement days for individual transactions can vary from 30 -60 -90 or 100 + days and therefore commissions aren’t payable until settlement takes place
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
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.
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.
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!
This is very rare. Plus he is not being fair with his numbers. His broker is gong to take a percentage and other costs. This is exactly why NAR was sued and the thinking that agents make too much and 6 percent is too much. The reality is that most agents make way less than 100K a year.
Thanks for your feedback! I aimed to keep it straightforward so everyone can grasp the essentials. If you're interested in diving deeper into real estate topics, feel free to check out more on our channel or visit here powerunitcoaching.com/
@@anakinpimpwalker if the deal doesn’t go through w the buyer and seller, you don’t get paid. If one of the parties sign an agency representation agreement and then try to circumvent you, you are entitled to your commission. Make sure to ask your broker for more insight on the matter because they most likely have dealt with this before.
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 :)
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.
" if I was to ask how much you make you would get offended"... a real estate agent did ask how much I'm made to know if I could afford the house or not 😐 Overall the saying if what it is people normally say that when they get aggravated and upset because they do make a lot of money but they don't want to tell other people because they're living over there means even though they get paid very well. But hey what do I know about numbers. Even though im on the Spectrum
Could also just invest in low-capital entry, high ROI, non-syndication turnkey multifamily real estate that will provide significant monthly passive income and equity. Life changing!
Hey Chastin! I love your content! We are looking for speakers that would want to be a part of our events in Utah, Las Vegas and Arizona. Would this be something you'd be open to hearing more about?
I pay $250 per transaction, $25 broker review fee, and $40 for E&O insurance. Details here th-cam.com/video/pBURgM5gtbs/w-d-xo.html
Hey, Miles. How can we become friends so that I can acquire the skill of being a real estate agent?
@ChastinJMiles Your vid just popped up into my feed and I am so glad that it did. I am interested in changing fields and would love to connect with you. Do you ever host any lives? If so, please send deets. All the best!
Whos your broker?
Isnt that 47,000 still ?
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
Best comment!!
@Mekehl speaking truth brother 🙌🏽
It is because employers don't want employees finding out the differences in their wages/salaries.
@@ayeflippum its the employees who wouldn't share their salary 😕
Correct! Agreed 👍
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.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks, I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
⚠️ ⚠️ 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!!
Even 100k is misery in my area. I would need to make 300k the least to have a decent life and save. Which I do but not coming from RE..lol
Damnnnn, do you think that’s the average salary for a Commercial areal estate advisor? Currently I am working a job where I make $160,000 but am thinking about switching to Commercial Real Estate because I was told I could make $250,000 per year.
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
My dream of becoming a licensed real estate agent is ruined due to my poor performance in the real estate exams
been struggling alot to pass the real estate exam for over a year. does anyone know any alternative to pass the exam please share.
@@Bella-yb8kc Amanda's back door process is the best alternative to pass the real estate exam
What kind of practice test or study materials does she provide you ?
I subscribed $1000 for the questions and answers and paid $500. Then completed my payment to her after my result. I only studied the questions and answers she provided me for few days, and was shocked to see the same questions she provided me on the day of my exam.
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
Unless you work for Homesmart, then you pay a very small fee and keep your entire commission 😃
I was thinking that too.
commission rate is usually 6%, 3% goes to the agent and the other 3% goes to the broker
Can you become your own broker and keep everything?
@@dylang8176 that’s not true. Yes commission is 6%… 3% goes to the seller brokerage and 3% goes to the buyers brokerage. Then the 3% is divided by how you negotiate with your broker. So it might be a 70%-30% split
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
How much do You make?
@@lwilson2650 well these last 2 years have been very very lucrative due to the chip shortage I’ve sold motorhomes and trailers for prices that I can’t even imagine selling them for years ago don’t have an exact number without looking at paperwork but I would definitely say I’ve grossed a decent amount over 7 figures probably around 1.2m or 1.3m not counting what I had to pay my employees and I really don’t see the disrespect in you asking that lol
@@romeothompson9389 ok so 1.2 before you pay and take out taxes
That’s decent and probably why you aren’t offended
Real estate agents get mad cuz they know they’re overpaid
Imagine giving house tours and making 500k a year as an employee and barely working
Granted that’s only the ones that make it the rest quit cuz they don’t land the cushy job
But that’s why they get offended
Vs being a business owner with risks and investments that justify your high incomd
This has been a great year for motor vehicle sales for those who have been able to keep inventory
@@romeothompson9389 my ass
Don’t forget there are fees you pay. Marketing and broker fees to deduct
Right! Unless he is a broker. He gets a percentage of the 3%. Or more f he is 100% commission he is still getting hit with fees (cap, administrative fee etc)
……..it literally said “before the fees”. Gotta pay attention Fam.
@@twenty8988 they can’t read bro
@@twenty8988 but, someone who is not an agent doesn't know what "before the fees" means ppl think we make 20-30k a deal and just pay taxes lol
@@Stricknines lol yeah, when it comes to social media & real estate first thing that comes to mind is: “opinions are like assholes, everybody has one” lol they speak without truly knowing what they’re speaking about. Then will go relay that information with such confidence. Spreading lies.
80% of agents make less than $50k a year.
Wait are your Serious?? 50k a year ?
@@Pw7N yeah but the majority of “real estate agents” (which the money is just measured by how many people have a license) don’t do it full-time
This is how rumors start lol
But if u make that 50k in one month that’s awesome.
Definitely not
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!
In California commission is like a forced 6% and half goes to the state
Just sold my house for 4% total. 2% for my agent and 2% seller agent.
Great thing you said that. Some shark out there would have reported this fellow!
@@jakesmall8875 no it’s not.
@@jakesmall8875 lol no, just bought my house and the agent fee was 3%. Maybe it's that high in certain counties but not CA as a whole
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
Exactly, people acting like I said for the whole year.
@@ChastinJMiles 😂
Commercial RE is even more sporadic in commissions. Been in it since late 2019 specializing in Industrial assets. 1st year I was a tenant rep, built my pipeline, and closed 7 deals. Made 85k after splits with 3.2mil in transaction volume. 2nd year moved to listings and only closed 4 deals but made 178k after splits from 16.6 in volume. This year I've closed 8.3 so far and made 116k after splits. Residential can do so much more volume than us, but we don't have to work weekends or lose a deal over counter tops :). On the flip side, having no emotional attachment leads to quick and unexpected losses, like 10mil (or 140k in income) in a week :(. Avg CRE agent makes 80-150k a year. Top 10% of earners will do 7 figures +.
@@TheDayisMineTrebeck what state are you in?
@@TheDayisMineTrebeck i just turned 20 and im trying to become an agent and investor since i was 18. im in nj and going to re school, what should i expect from this industry? what are the right questions tht i should be asking my teacher?
That “before fees” part though. Lol. Always a killer 😪
I like how transparent you are brotha, also keep up the good work !
Nice!! I just got my license My goal is to sell 4 houses a month!
congrats!🥳 how's it going?
Did you quit yet?
@@Houstonbeach Nope I've sold 2 houses, and have a listing!! Aaand a few more things in the pipeline! God is good! Thank you Jesus!
@@mariaguild2024 awesome! I’m happy for you. This is what I needed to hear.
@@Houstonbeach You got this!!
You work hard and very smart. I like that in people to influence others to do the same
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
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.
Next question. How long did it take to sell each one and get paid from them?
Leave my man's alone the way he says "asked"🤣great vid homie
Lol. Been talking like this for 33 years, no need to change now.
@@ChastinJMiles but bro bro you made 48k in the month?how much did you make that year if you don't mind me asking
You cannot say commission rate in your area. Commission is negotiable anywhere any time.
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
I’ve always believed that Real Estate exam is not for all but studying, you need God’s grace to pass
People keep talking about James all over TH-cam, he must be a very awesome help
@@patrickburton4270 Yes you’re correct but remember heaven helps those who help themselves, try studying if you can’t study then get yourself a good help
I studied for months and couldn’t pass, I guess passing is a blessing
Real Estate exam might seem so tough to pass but studying very hard is a very vital skill to win trust me
I love how he say I sold it for x amount. As if the owner only wanted 10k but he got him 415k. No that's the market. You didn't sell ot for 415k the property demanded that based on market value. Had nothing to do with the agent. these prices are starter homes in the current market
Hater
@@Houstonbeach aren't we all. Lol
@@lordcommander7551 yeah I can’t lie I be hating too 😂
@Napskilla lmao 🤣 😂 😆 boy this tickled me today. First step is acceptance. Haters anonymous
Congrats! Being a Realtor is the best feeling! Keep up the good work.
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.
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
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 👍🏾
Well read my book…it’ll really make your blood boil
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.
How did the test go?
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.
Congratulations bro. Keep up the great work.
Great tips on me learning about commissions before taking my course next year ❤
Sure!
The walk in the beginning 🤣🤣
😂😂 I literally went back to the video just to see it
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 .
All of them.
Not only that you don't get the entire 3% the broker gets his cut minus fees and the advertising for the property
I know we have to save alot and also pay taxes on that amount we make.This was a good easy breakdown for people.
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.
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.
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. 😂
Karen for sure
Congrats on your success keep up the good work 👏 🙌 👍
Thanks
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 think he’s a broker
Appreciate your tips! I’m a loan officer and can relate
How long did it take to sell all of those houses
he said a month 🤷🏻♂️
The houses sell themselves these days
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.
Don't forget commissions and monthly dues. That's the killer. You still got paid though!!! Good job!
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.
That quote from her took me tf out 🤣
Will the %3 commision apply for working under a real estate company?
Yes
But over how many months and what are your brokers splits?
Love how far you’ve come
Is this just commission do get hourly pay as well?
The fees are heavy
What you mean by that? Everything has fees
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!!! `
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
Damn
Most people who ask how much we make are not asking for authentic reasons. Bur to judge us
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.
Yeah there is. It’s 90/10 where i live
@Jus10 Time88 i think he is the agent that represents a broker.
Preferred commission rates are determined by brokers individually but legally they are always negotiable based on the work being done by the agent/brokerage. Standard rates are not allowed, therefore maintaining a competitive environment and avoid price fixing.
You’re correct, he also he omitted whether it was after tax or before tax. The amount he made in one month is not really accurate because settlement days for individual transactions can vary from 30 -60 -90 or 100 + days and therefore commissions aren’t payable until settlement takes place
He said before fees at the end
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
“Axed” vs “Asked”
Julie vs jewel-lee
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
damn, never knew I could axe a question. you learn something new every day
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.
How long doesn't matter, what matters is you
What’s your average for the past 36 months?
What was the brokerage split? That’s a drastic difference
Right now? As much as they want.
Don’t forget fees are also negotiable. Not every agent makes 3%. It depends on the negotiation
More real estate agent than actual homes for sale.
Facts
Depends on the area u live in
How much did you Net? After brokerage fees, taxes, and expenses? That’s the real number.
48k isn't that bad but it's such a small amount compared to how much you sold the houses for
and?
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.
Then you paid expenses, then your firm cut, next came taxes, you're back down to Walmart manager pay
Is it best to b both Agent and Broker in Real Estate in 2003 through 2025+ ??
probably because most buyers find the homes themselves 😂
Yeah but don't you have to split a certain percentage with your broker
You get that "axed" a lot?
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!
😂 Obviously, he’s probably going to avoid this question because he’s trying to sell a dream
Before fees* 😭🤭😂 yae I forgot about those
I definitely have videos longer than 0.52 seconds that get into all of that and more
and set aside at least 30% for taxes
"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
Thanks
If you can't say "asked" correctly then I'm not trusting you with my home purchase
Don't
@kevin day. That's so rude. This gentleman is just trying to be open and honest.
I don’t think he cares my guy. Wow 1 loss for what? He makes more then you do in a month 🤡
Lol I love the before fees caption and emoji. So true lol. Not too mention other expenses
People get mad about their pay because they know they really don’t make shit 🤣🤣🤣
This is very rare. Plus he is not being fair with his numbers. His broker is gong to take a percentage and other costs. This is exactly why NAR was sued and the thinking that agents make too much and 6 percent is too much. The reality is that most agents make way less than 100K a year.
Is this a question you get axed a lot? 😂
Do you sell your future commissions for discounted cash offers now
And still mot enough to learn how to say axed
This was a very simple video thanks
Thanks for your feedback! I aimed to keep it straightforward so everyone can grasp the essentials. If you're interested in diving deeper into real estate topics, feel free to check out more on our channel or visit here powerunitcoaching.com/
Great job!
Isn't commission rate negotiable based on what you bring to your clients?
Yes
But how consistent were your sales all year? Also he had 4 homes which means 4 clients it could've taken 2 months or more to find those homes.
But what about the broker?
Doesn’t the broker get a piece of the 3%
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!
If it's written on paper and if buyer or seller don't want to follow through no more you still entitled to a commission no??
@@anakinpimpwalker if the deal doesn’t go through w the buyer and seller, you don’t get paid. If one of the parties sign an agency representation agreement and then try to circumvent you, you are entitled to your commission. Make sure to ask your broker for more insight on the matter because they most likely have dealt with this before.
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 :)
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.
" if I was to ask how much you make you would get offended"... a real estate agent did ask how much I'm made to know if I could afford the house or not 😐
Overall the saying if what it is people normally say that when they get aggravated and upset because they do make a lot of money but they don't want to tell other people because they're living over there means even though they get paid very well. But hey what do I know about numbers. Even though im on the Spectrum
Could also just invest in low-capital entry, high ROI, non-syndication turnkey multifamily real estate that will provide significant monthly passive income and equity. Life changing!
What was it after the fees?
Hey Chastin! I love your content! We are looking for speakers that would want to be a part of our events in Utah, Las Vegas and Arizona. Would this be something you'd be open to hearing more about?
Sure thing! Shoot me an email please cmiles@chastinjmiles.com
Sent you an email! Looking forward to hearing more from you!
Can someone explain to me in detail what exactly agents do and what I can do to become one? People say get your license and start, but start what?
Watch this th-cam.com/video/M1Y9IPHpg1E/w-d-xo.html
Well i want to make lots of money but not sure to do carpentry or become a real estate agent
How much after “fees”? Like brokerage fees, a guy for the company you work for?
killing it man! Nice
Yeah!
Never mentioned the brokers commission
So how much is it after taxes?
I'm in class now!!!