How Much Money Do Real Estate Agents REALLY Make?

[@Val-de3nu]

Hey Chloe! I have a quick question. How much does an agent usually spend on marketing a property?

[@HomeHunter-in-Moscow]

Hey, Chloe! Watching another video of yours to compare it to the Russian market. I was surprised to learn how big is the agent’s commission share! Well, I do understand that there’s a number of deductions, but still! In Moscow (probably, the other cities even worse), the agent’s share will be starting from 15 to 25% for a beginner! On average it’ll be between 30 to 40%. If you’re top performer/seller, work for a long time in the company you can be getting around 50-60%, but it’s quite rare! And at the same time, most agents are not officially registered at the agency or the agency sets you a minimum allowed salary (not to pay taxes for you). So, when you get commission - it’s up to you what to do with it. Taxes vary from 13% for a physical person, and 6% for an Individual Entrepreneur (at least, we are winning on the taxes size 🤪). Commission for selling properties is usually 3-4%. Some are damping to 2%, in rare cases go up to 6%. Usually are being split 50/50 if the agent from buyer’s side is involved.

[@Milkbear143]

Thank you for the video! I am getting licensed soon & currently looking for a brokerage to work at. Starting off, do you recommend working as a real estate assistant first? Or just work as an agent right away?

[@Perezksvv]

I started as an assistant & I 10/10 recommend . I was doing it for 4 months & then got my license & I felt ready & had an idea of what the job is really like.

[@chloedeverrier]

It depends on what you need. I am a firm believer that you want to avoid getting stuck in the “preparation” phase - sometimes the most impact and learning comes from jumping in head first. That being said, working as an assistant for a short period time could help build a stronger understanding of getting started. There’s no harm in choosing either direction, but eventually you will have to get uncomfortable!

[@Perezksvv]

@Chris Hi ! When I was working on my last course I interviewed brokerages , just so I could be ready as soon I passed my state exam. When I chose the office I was going to hang my license with I asked if I could be an assistant. That is how I got the position !

[@mayraata3786]

Thank you, I like how you explain step by step for new licensed agents is helpful

[@Soula0816]

Very helpful for new agents, thank you so much for sharing!

[@gangsterkitty500]

Would you recommend holding a job and trying to do real estate part time, in an effort to establish yourself before making the transition?

[@LifesAGambleLAG]

you chose the accelerator track for commission structure at CWB?

[@zackbrown2133]

30% is a surprising estiamte for taxes, I think its closer to %45 for those that are high earning & self employed (without expenses) Is it safe to assume that the out of pocket costs to you are high enough to negate that %15 independent contractor tax?

[@acollierr17]

Thanks for this video! I'm getting my license fairly soon (I already finished pre-licensing) and these videos with you breaking down the numbers really help! Keep at is as any new information I can take on, the better.

[@chloedeverrier]

I’m happy this helped!

[@Val-de3nu]

Thanks so much, that's so helpful! Have you ever had an agent who did not make any money in one year (apart from their rookie year)?

[@chloedeverrier]

Yes unfortunately it happens - more often than you think. But don’t let that deter you! If you know in your heart this is what you want to do then do the work and stick with it

[@Val-de3nu]

@@chloedeverrier thanks for the quick response! I will definitely follow my heart and go for it - give it all :)

[@wallstreetdon]

Do you think it’s more churning for leads or do you find it more advantageous to go out and socialize?

[@chloedeverrier]

Real estate is a lead generation business - yes you sell homes and socialize but there are very unglamorous aspects in this career that consist of buckling down and prospecting for business, socializing won’t get you as far!

[@lavinniat]

Totally off topic but your top is so cute! Where is it from ?

[@djpickleballplayer]

When you first start as a real estate agent what about having a full-time job and being an agent part-time? Is that doable?

[@constanceruscher3393]

How come with the last two examples of sells you didn’t include the broker percentage split?

[@LocalHeroCarlos]

i love your videos, they are very intro friendly! I just started realestate courses and it seems so overwhelming but this helps to ease the process 😭💜

[@marciebillen]

I think you did a good job of explaining, it can be so confusing for new agents and the general public

[@therealtormom]

I work for HomeSmart Lifestyles and we get 100% outside of a transaction fee. Thats for all HomeSmart brokerages.

[@jamielenear]

Once I get my license that’s who I want to work for

[@rickycampos4770]

Thank you

[@halo-halo9244]

Wow your commission from both parties is very high as well as your commission split. I wonder how the company you work for make a profit or what else they provide.

[@Val-de3nu]

How many hours do you work a week on average if I may ask?

[@chloedeverrier]

It’s impossible for me to say. Clients reach out to me at any point of the day, so I’m technically always working

[@isaacjmcknight]

These are the details I needed, thank you!

[@christinesanchez9753]

So my question/concern would be every firm is different. I know "personally " firms that do not take so much from you. Why is it that some firms can get away with more commission then another? That is YOUR hard work you are putting in.

[@ericbuckner8182]

I really love the show

[@theproduceract1977]

Love you’re vídeos ♥️♥️♥️

[@GRIMSREVENGE253]

Do you have a video about the best way to find good people if you want to rent someone basement and the steps both parties should take so nobody gets screwed over? People say you can use craigs list, but I don't want to live in the basement of somebody who worships the devil. That would like kill my vibe... ya know? Maybe just some old couple who likes to play checkers or something. Your advice would be very helpful ...Thank You in advance.

[@chloedeverrier]

I always reccomend you interview multiple people and meet them in person to see if living together seems to be a good fit.

[@GRIMSREVENGE253]

@@chloedeverrier What's the best way to even find people who are renting out their basement? I have no clue where to start.

[@TheEmpress119]

Have multiple streams of income.

[@isaacjmcknight]

California prices are nearly astronomical, probably is

[@michaelmutuc5258]

Just received my license! Are you currently taking in new agents yourself? I’d love to work with you! If not is your brokerage accepting new agents?

[@chloedeverrier]

My brokerage is always accepting new agents! I can connect you to any Coldwell Banker manager in the country. Please email me at [e-mail] with your full name, phone number and cities of choice you’re considering working.

[@ReeceReviews19]

You are amazingggggg

[@isaacjmcknight]

Real estate is a tough career, but the only thing that im interested in and the only thing that wont damage my back

[@realtorcaseyprecott6315]

Beautiful ❤

[@dsmith7969]

OK

[@JojayBryant]

Hi Chloe. In light of the recent lawsuits, you may consider taking this video down.

[@isaacjmcknight]

Wym “a years” worth of savings? Or are you saying “8 years” cant really tell ☠️🔫

[@theawsomenothing]

You look so young can I ask how old are u?? Lot of love from Italy🔝

[@chloedeverrier]

I am in my 20s, I got my license at a younger age than most

[@theawsomenothing]

@@chloedeverrier do you think that at 29 (like I am) is too late to begin in real estate??

[@chloedeverrier]

Not at all! I know people getting started in their 50s!

[@theawsomenothing]

@@chloedeverrier woooow 🔝

[@emillyujueta2256]

Hi can you explain how the IRA works a little better please

[@chloedeverrier]

It's a retirement investment account! It follows the same investment, distribution, and rollover rules as traditional IRAs - esentially allowing you to build wealth over the years. There is typically a penalty to withdraw as it is intended for when you retire.