Originally Posted by
Red Forman
What is so difficult about becoming a real estate agent. I have many friends that are and they all said it was easy.
You're right- I didn't express that correctly. "Becoming" a real estate agent is easy. It's a couple tests. That's it. Making more money (net, not gross) than a first year RJ FO is not easy. Here is how a typical new agent spends $1,000:
Gross Commission : $1,000.00
Corporate Advertising: -80.00 (8%) $920.00 Remaining
Company Split: -460.00 (50%) $460.00 Remaining
Personal Advertising: - 92.00 (20%) $368.00 Remaining
FICA - All 15.2% - 55.00 (15%) $313.00 Remaining
So, for every $1,000 you make you get to keep around $300.00. That doesn't include income tax either. Of course, in our current economic climate you may not have to pay any anyhow.
Oh- And don't forget about health insurance. That's a fun one too!