UPDATE: I will be in our KW Allen office from 5-6 on Wednesday, February 26th. I’ll answer questions about costs to become an agent, my free group mentoring plan, and the business as a whole. Our address is 1002 Raintree Circle, Allen, Tx 75013
I recently saw this article in the US News and World Report. I have it summarized at the bottom of the page. It really struck me for several reasons.
The article showed the top ten jobs in health care, the salaries, and the degree(s) required. I know some doctors who make a LOT more than what I’m seeing here, but they also incur enormous costs to run their businesses, so that might explain it.
Anyway, take a look at the degrees required to attain those kind of yearly salaries. That’s a lot of years of education and they probably accrued a lot of debt to get to that point. There’s no doubt they love what they’re doing and it’s not all about money, but still, agents can make those salaries and more without those educational sacrifices.
I can only speak for our Keller Williams Allen, Texas office but I want to share our agent GCI (gross commission income). We have around 220 agents in our office and of those, last year 71 made more than $100K. The GCI went well over $1 million too.
Many of those agents are less than 5 years in the business. They’ve come from all professions and even no professions. We have teachers, stay at home moms, retired businessmen, ex-sales people, the entire gamut.
And here’s what really struck me about the article. While many of our high producing agents have college degrees or higher, others only have an associate degree and some just have their high school diploma.
One of the beauties of residential real estate is you aren’t defined by your education. You might never be asked where you went to college or what degrees you have. People just don’t care. What they DO care about is your knowledge of the market and ability to protect their interests in a real estate transaction. That’s it.
The average age of a residential agent is now 54. FIFTY FOUR! What other profession allows you to start a new career at that age, work for yourself, make great money, help people, and all without the crushing costs of insurance or maintaining an office with support personnel. It’s just an incredible opportunity.
I’m the first to warn you, this is a very tough and competitive business but the rewards are there. If you’re determined, stubborn, willing to work hard, work smart, and ready to listen to those who are successful around you, there is no-one stopping you from reaching your goals.
Since I joined KW eight years ago I’ve watched a LOT of agents come and go through our office. But I will tell you first hand, if you can’t make it here in this office you either aren’t working or aren’t listening and learning.
80% of new agents will be out of the business within 2 years per the National Association of Realtors. If you think you can beat those odds, call or email me and I’d be happy to visit with you. My cell phone is 214-850-1519 and my email is tom@grisak.com