First Year as a Real Estate Agent

[Derek Woolley]

Hi Everyone,

I'm considering a career change. I own a duplex that I live at and rent out and want to become a real estate agent since I'm not satisfied with what I'm doing now. My question/concern is do you make enough to live off of in your first year as a realtor?  I currently make about mid 50's and would need to make something close to that as a realtor due to my expenses. What were your guys' experiences? I appreciate any feedback.

- Derek

[Russell Brazil]

Im going to give you some numbers you might not like.

87% failure rate for the industry, which is right in line with the failure rate for any small business right at 90%.

Most businesses that succeed, operate at a loss in their first 2 years of business. 

The median income for the industry, so the people who actually "make it" is only aboit $50k per year. 

Income potential is huge in the industry, but you arnt likely to make $50k in year 1.  I operated at a loss in year 1, but I was over $400k by year 3, Im the exception though and by no means the norm.

All small businesses require capital. If you actually want to succeed, make sure you are well capitalized.