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Do Realtor really get paid by commission?

My name is Yamelyn I'm 17 years old I'm currently attending Job Corps in El Paso, Texas and will soon be attending an Office Administration class. I took a business class at the last school I was attending and learned much useful information but I would like to know what else would be necessary such as skills or education to become a successful realtor. #business

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Andrew’s Answer

Hi Yamelyn-

My wife recently became a licensed real estate agent and loves the work! In terms of your question, yes, you get paid a commission from the purchase or lease of the home that you are getting on your client's behalf. Typically this is around 5.5% of the total purchase price of the home. Regarding skills, I'd say the biggest one is to be open-minded, a go-getter, and someone who has great patience. There are times where someone might takes weeks or months (or longer) to find a home, which can be frustrating for you because ultimately you want to earn a paycheck, but at the end of the day you are helping someone make an important life decision. Your role is to help them along the way, provide advice, and help them make the best decision. Hope this helps!
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Brittany’s Answer

Yes realtors get paid by commission -- the percentage will vary by state and you have to obtain a realtor's license in the state you will be practicing in. In addition to academic skills, it is also important for a realtor to have strong "soft skills" to work with their clients. Your clients will be a diverse group of people and connecting with them effectively will increase your network of referrals and repeat customers. Often realtors gain a large portion of their business based on referrals from those who have had a pleasant experience working with you rather than purely based on credentials. Practice networking and engaging with people to make them feel comfortable as they navigate the home buying/selling process!
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Misako’s Answer

Yes, realtors are generally paid by commission. In Texas the broker they work for generally collects commission when the sale closes. This is 3% of the sales price. The realtor's commission comes from a portion of that 3% commission collected for the broker.
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