Like any job, there’s more to being a real estate agent than meets the eye. For starters, it costs us thousand$ of dollar$ to get licensed and to stay licensed to do our job.
It costs more thousand$ for annual dues to our Americus Board of Realtors, Georgia Association of Realtors and National Association of Realtors.
Locally, we pay monthly dues for membership in our Multiple Listing Service (MLS) and to have lockboxes to attach to listed properties. These dues run, in my case, about $500 a year.
All of that is just so we can work. In addition we pay for websites on which we advertise properties for sale. The seller risks nothing for advertising; we pay for it.
Here’s a situation I’m involved with currently. The seller wants to sell the house. To get the house ready to show it needs some cosmetic help. I have asked three contractors to contact the occupant of the house and arrange a time to look at what is needed and give an estimate of the cost. Will they?
If we can make the house presentable, the seller will list it for sale. With me? Probably, but there’s no guarantee.
I prepared Comparative Market Analyses from two sources so that the seller would have a basis for an asking price. I pay for those sources.
So far I probably have 4-5 hours invested in this property. As the listing agent I’ll invest lots more time, including unlocking the door and showing the house to possible (at best) buyers.
If it all culminates in the house being sold I’ll finally be compensated. If it doesn’t, I won’t be; I’ll have nothing to show for my time and effort, but my expenses will go right on.
Multiply my experience by the number of active Realtors in Americus and you get an idea of what it costs us to be real estate agents – without any guarantee we’ll ever be paid one cent by anyone. What a business!