How much do real estate agents make a year on average?

How much do commercial real estate brokers/agents make per year?

• working for a big firm they say many agents make six figures plus in a few years, is this accurate?

• Answer:

  With all due respect to Jason, his advice couldn't be further from the truth. In fact I would argue it is the best time to become a commercial realtor in that there is a 12-18 month learning curve and to establish relationships with buyers and sellers. Why not do that in a down market so that when things turn around, you are in position to make a lot of money when things turn around. This is the best time to cut your teeth and in the words of the great Frank Sinatra, "If you can make it in this market, you can make it in any market" okay, he didn't quite say that but you get the drift. The statistics are daunting for commercial real estates sales. nearly 95 out of 100 people who enter into the business do not make it past the first year and that number creeps up about another 2% by the end of the second year - regardless of market conditions. There are several reasons for this such as not getting a pay check for a year, not being able to support yourself, etc etc. The main reason however, is lack of motivation. You have to be EXTREMELY motivated to do a considerable amount of hard work and be able to handle significant amount of rejection especially in your first year. Most people lose there motivation within a few months and lack the discipline necessary to be successful. Those that fight through the brick wall and "pound the phones" as well as do all the other things to be successful find that this can be a most rewarding and lucrative way of making a living. If this is something you are considering, ask yourself a few questions: Can I support myself for up to 18 months without a paycheck? Am I willing to sacrifice and work long hours (12-14 a day/ 65-75 a week). Am I willing to pick up the phone hundreds of times a day no matter what the consequences are? Oh and lastly, do I want to be in President Obama's 5% class of people that will see their taxes go up? I made $4,350 in my first year as a broker and $192,000 my second year and with the exception of last year, made more money every year thereafter than the year previously. 2009 has also been tough so far (allthough I believe the stress in the commercial market is about to open up the floodgates of transactions) and there will be other off years but considering I make 12-15 times more money now than I ever did working a 9-5 job, I wouldn't trade this in for the world! Oh and one last thing, ask your accounting buddies if they ever experienced the thrill of closing a deal. Nothing like it my friend, better than sex (ok, perhaps a slight over-exaggeration but pretty damn close).