The Truth About Real Estate Agents Income 💰

Everyone thinks real estate agents are rich, so l am going to explain how much real estate agents actually make 💰
🚨(Disclaimer this is only for NYC agents)
1. The average deal is about $1Million which means the average commission check is around 6% of the Million dollars so that $60,000.
2. 90% of the deals are done with two agents which means one agent take home about $30,000.
3. Out of that $30,000 you have to give 30% to your broker so now you have $21,000.If you represented the seller on the transaction, you paid marketing expenses.
4. Marketing expenses are about 5% of the overall commission and thats about $1,500 Now you have $19,500.
5. Most Transaction are done in condo and co-op buildings which required board application, if you are busy agent you going to outsources that which you will paid about $1,500, now you have $18,000.
6. Out of the $18,000, you will have to pay the men so that means you will have to set aside about 30% for taxes.
7. Now you have $12,600 you also need a savings account which you will stet aside 10% now you have $11,340.
8. As a single person in NYC you will need to make about $150,000 after taxes which means agents will need to do about 14 deals of this million dollar transaction to live comfortably in NYC.
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[@Linda-xm2cb]

💪 "promo sm"