The real estate market is about more than finding a place to live or work. Real estate is one of the most important investments the average American family will make, and it’s a huge engine of wealth generation. People stake their retirements, their savings, and their future prosperity on their houses.
Real estate has built more fortunes than any other industry. When you earn your real estate license, you can start thinking about how you can make the industry work for you. You don’t need a fortune to become successful in the real estate industry.
A career in real estate can be highly remunerative, even if you start out, like most do, without much capital to start with. You don’t need credit, startup capital, or any major assets. You can start by getting your real estate license.
Earning your real estate license is one of the most cost-effective ways to qualify for a new career. You can find online real estate courses from online schools like RealEstateU at affordable prices. While the costs may vary in different states, you should expect to pay around $100. In New York, there’s a 75 hour real estate course, while other states have different course requirements and lengths. Before you sign up for real estate courses, stop by RealEstateU for more information about the process of becoming a real estate agent.
Working as a real estate agent is a great way to start your career. The average yearly income of a real estate agent is $46,808, though there a lot of factors at play. Experience and knowledge pay off in the real estate industry. Agents just starting out tend to make the least, averaging $44K, a number that goes up to $60K with 5-10 years of experience, $62K with 10-15 years, and $75K for those with 20 years of experience and more.
However, a career as a real estate agent can look very different for different people. Many agents choose to work part time, or even restrict their business to their own property purchases or helping out family and friends.
In a sample of one North American market, there were some fascinating findings:
• 20% of agents in the sample market sold 0 houses in the previous year
• 52% of agents sold between 1 and 6 homes, suggesting part time work
• 14% of agents sold 7-12 homes
• 10% of agents sold 12-24 homes
• 2.5% sold 25-50
• and only 0.4% of agents sold 50-99 homes, with 61 individuals selling over 100 each
Real estate is a commission-based industry, so the more homes you sell, the bigger the payday. You can’t expect to be selling 100 homes in your first year in the business, but it’s not impossible to reach that number at some point in your career.
Selling real estate can also put you in a position to become a real estate investor, flipping houses or buying income properties. Once you start investing in real estate, there’s really no saying how much money you could earn.
Make it all start happening by earning your real estate license today.