Don’t let the recession affect your production. In 1969, I was laid off at Bell Helicopter and chose to enter the real estate profession. The average priced home was $8,000 to $10,000. I was on a 50/50 split. The total commission on the listing or sale side was $480 to $600. During my first year in real estate, I doubled my income from what I made in engineering at Bell Helicopter. The average sales price in Dallas-Fort Worth area is approximately $186,221. Using the same commission percentage, the total commission now on the average house would be $11,100.
The North Texas MLS reported that 40,183 homes were sold for approximately $7 billion from January to June 2009. If you take $7 billion times 5.5%, it comes to approximately $413 million paid out in commissions for the first six months. There is still money to be made. You need to get your share.
Read these two articles by Steve Brown with the Dallas Morning News:
- Survey: Recession hasn’t stopped homebuyers from moving up
- Report: Dallas-Fort Worth homeowners likely to see rise in equity
