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How much does it cost to be an Realtor (maintenance costs not startup)?

What does it cost you to be an agent- break it down for us that don't know.
  • April 04 2012 - Oklahoma City
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Answers (3)

Monthly office, advertising, dues, education, Board, website, auto, mailing, copy etc.... costs totaling over $3,000 per month here.
  • May 06 2012
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National and Local MLS Dues are around 1,500 dollars annually.  If you decide to go into the local print magazines you can buy ads as inexpensive as 100 dollars to 1,250 dollars per print.  If you just want to sale 3 to 4 houses per year, just pay the National and Local Dues, if you want to make a living at selling homes you are looking around 500 dollars monthly in costs, i.e. Licensing Fees and Dues spread over the 12 months along w/ advertising Fees, Meetings, Signage and continuing ed. 

If you are thinking about becoming a Realtor, you should contact Rob Cowger of Metro First Realty, he is my Broker and he can explain what it takes to win at Real Estate.

Hope this helps,

Josh Barnett, Realtor
Metro First Realty
  • May 06 2012
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Being a (successful) full time agent is a financial commitment.

It's different for each state and market area, but after you're licensed there are always some fixed costs. Let's say you work only with buyers, as an agent you pay out of pocket:

Local, State, and National Association of Realtors memberships $600-$1200 per local membership annually.
Access to the local MLS around DC is $700 per year. This varies greatly by area.
Electronic Lockbox access (Supra, Sentrilock, etc) $200 per year.
E&O insurance around $700 per year.
Online Access to contract forms $200 per year.

Electronic signature program $200 per year.

Bare minimum continuing education $300 per year.
Budget a minimum of $500 for office supplies.

You can sometimes find company or association discounts on a few products.

This doesn't factor in costs to generate business, referral fees, online advertising, mailings, transportation, additional car insurance, professional development, website maintenance, technology like home & work computers, a smartphone with data plan, any client gifts or meals.

If you want health/vision/dental insurance that's another major out of pocket expense. Add on more if you have kids.  

When listing properties for sale, it takes about 1% of the sales price to properly market a home. Experienced listing agents with high volume can be more cost efficient with buying bulk service packages from photographers, videographers, printers, and other vendors.

Unless you're a sole proprietor broker working out of your basement, firms generally charge 20-50% of every commission OR flat monthly fees of $500-2000. In exchange you receive a broker who will help develop your career, space to work and meet clients, basic office supplies, the benefit of your company's brand reputation and access to well developed resources.

  • April 04 2012
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