Starting a real estate career is an exciting and rewarding journey, but it’s essential to have realistic expectations and a solid understanding of what lies ahead. At Keller Williams, we believe knowledge is power, and our goal is to equip you with the insights needed to succeed.
Here are five key things you should know before diving into real estate.
#1: How Much Money Can You Expect to Make?
One of the biggest perks of a real estate career is that there’s no income ceiling. As a 100% commission-based opportunity, your earning potential depends entirely on your efforts.
While income can vary greatly, we’ve seen new agents make $150,000 or more in their first year by leveraging Keller Williams’ training and systems. To forecast your potential income, multiply the average home price in your area by your state’s average commission rate. Then, multiply that number by the number of homes you aim to sell in your first year.
Example: Average home price × average commission × expected sales = gross commission income.
#2: How Much Does It Cost to Get Started?
Starting your real estate career requires an upfront financial investment. Here are some typical expenses:
- Licensing course fees
- Board of Realtor dues
- Business expenses: Phone, computer, office supplies, signs, and marketing materials
On average, you can expect to spend between $1,300 and $3,500 to get started. This is relatively low compared to starting other businesses.
#3: Do You Have Cash Reserves?
Starting a new business takes time, and real estate is no exception. It’s important to have financial reserves to cover your living expenses while building your business.
We recommend saving 3–6 months of living expenses before diving into real estate full-time. Having cash reserves will reduce stress, allowing you to focus on learning, lead generation, and serving your clients effectively.
#4: How Do You Get Started?
To start your real estate career, you’ll need to:
- Meet your state’s requirements: Research your state’s licensing process.
- Attend real estate school: Choose between in-person or online classes (we recommend online for flexibility).
- Pass your real estate licensing exam: Study diligently to prepare.
- Obtain your license: Once you pass, you’ll officially be ready to start your career.
#5: Join Keller Williams Realty
Once you’ve completed your coursework and are preparing for your exam, it’s time to connect with Keller Williams.
Here’s how we support you:
- Help you identify the best Keller Williams office near you.
- Set up a one-on-one meeting with a Team Leader to discuss opportunities.
- Provide industry-leading training, tools, and resources to kickstart your success.
Final Thoughts
Starting a real estate career is a big step, but with the right knowledge and preparation, it’s a leap worth taking. At Keller Williams, we’re here to guide you every step of the way. Remember, success in real estate comes from desire, courage, and a willingness to learn.
You’ve got this—and we’re excited to help you succeed!