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 firstname.lastname@example.org
Summary of the US News and World Report Article
There’s no shortage of lucrative jobs in health care.The highest-paying professions in the United States all land in the medical field, each pulling in an average salary of more than $200,000 a year. That’s about $150,000 more than the Bureau of Labor Statistics-estimated $49,000 median annual income.Researchers used federal job and wage data to pinpoint professions with the largest projected number and percentage of openings from 2018 to 2028 and selected the fields with the highest average earnings.
The results are part of a 2020 jobs report from U.S. News & World Report. To be sure, these professions pay big, but the education required to break into them does not come cheap. Four years of medical school in 2019 cost about $250,000 at public universities and $330,180 at private universities, according to the Association of American Medical Colleges. Four years of graduate school runs between $30,000 and $120,000. Here are the top 10 highest-paying jobs in the health profession:
Anesthesiologist Average salary: $267,020 per year, Education needed: Doctorate
Surgeon Average salary: $255,110 per year, Education needed: Doctorate
Oral and maxillofacial surgeons Average salary: $242,370 per year, Education needed: Doctorate
Obstetrician and gynecologist Average salary: $238,320 per year, Education needed: Doctorate
Orthodontist Average salary: $225,760 per year, Education needed: Doctorate degree
Psychiatrist Average salary: $220,380 per year, Education needed: Doctorate
Physician Average salary: $196,490 per year, Education needed: Doctorate
Prosthodontist Average salary: $191,400 per year, Education needed: Doctorate
Pediatrician Average salary: $183,240 per year, Education needed: Doctorate
Dentist Average salary: $175,840 per year, Education needed: Doctorate