Industry News

Rookie Realtor makes minimum wage

Agent examines expenses, time and profit from 45-day work period

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Many people think that Realtors make a lot of money without doing very much work. I used to think that, too, which is one reason why I entered the real estate sales business a little more than a year ago. True, a handful of superstar agents make an enviable living. But the rest of us don't make nearly as much as the general public might believe, especially when our overhead expenses are factored in and our earnings are broken down to an hourly wage. At the start of September–right around the time I made the second sale of my fledgling real estate career–a veteran agent suggested that I start keeping a daily log of how I spend each hour of the day. Order "The Rookie's Toolkit" He also told me to keep track of every single penny I spent on job-related expenses, from the cost of printing marketing flyers all the way down to a Big Mac I might purchase as I rush from one client meeting to another. At the end of 45 days, he promised, we'd sit down together and go through the da...