Interview a real estate agent operating in your city. Ask the agent if training
ID: 376980 • Letter: I
Question
Interview a real estate agent operating in your city. Ask the agent if training is available for new salespeople. If so, what does it consist of and how much does it cost? Is there a mentor program for new agents? How are commissions split among agents? How much do agents have to pay for MLS fees, errors and omissions insurance, Realtor fees, marketing fees, desk fees, and other office fees? How many agents work for the brokerage firm and how long have they worked there as independent contractors? What is their typical annual income from commissions? Are agents required to work in the office at set times? Does the firm have a website? How do agents determine listing prices? Ask about current trends in the number of listings, sales prices, time on the market, and the number of sales. Are agents assigned to certain farming areas? Ask the agent about the future outlook of the real estate profession Ask other related questions.Explanation / Answer
The real estate agent I interviewed works for LJ Hooker one of the largest real estate groups in Australia.
He told me that they accept interns from college graduates who are interested in pursuing a career in sales. It consists of a 12-week program, where the interns are exposed to different aspects of the business.
The commissions are determined by one’s level and the amount of revenue generated over the period of a year.
The MLS fees, errors and omissions insurance are all dependent on the locality, size of the property and the value.
The typical income from commission is 50-60% of their base salary. In an exceptional year, it could go up to as much as 150%. The firm does have a website, where users can look up properties for buying, selling and renting.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.