by Ben Hess, Managing Director, ThirdPool Recruiting
A person transitioning into real estate often has two basic questions:
Can I earn a living in this role?
Is the work going to take over my life?
The recent Redfin agent study gives you some important benchmarks to answer these questions for your prospects.
Most agents earn between $25K and $75K. You’ll only earn more if you’re in the top 30%, and it will take some time to get to the higher income brackets.
It usually takes 6 to 12 months to earn a consistent monthly income.
64% of agents report their work-life balance is manageable.
Agents completing 10 or more transactions per year tend to work 40 – 50 hours per week.
Glenn Kelman summarized this topic by saying,
Real estate gives the best agents a path to significant wealth.
But, the profession is also one of the last career fields where reasonably high earnings can be obtained for a broad set of people, with a very wide range of skills, education levels, and backgrounds.
The [real estate career] is one of the last broad platforms [for creating] middle-class and upper-middle-class level prosperity.
These are positive and realistic messages to provide your recruiting prospects.
Tell them the truth, but don’t short-sell the dream.
