Transition Into Your Real Estate Career - What Expenses Can You Expect?

career real estate

I am a licensed real estate agent selling homes in the Ft Benning and Columbus GA area. After my 33 year career, selling with a major chemical oil company , I decided to transition into my real estate career. While with the chemical/oil company they provided a new vehicle (annually) and paid all T& E (travel & expenses) all paid. I was always able to eat well, entertain customers, clients and always stay in a nice hotel. I decided to venture out into real estate. This blog will focus on expected real estate expenses in your new real estate career. I never would have believed there would be so many expenses involved with selling homes in Columbus GA and Phenix City AL. Our city is a major military installation, Ft Benning ,where thousands of military personnel and their family PCS, (Permanent Change of Station),or move for you civilians out there.

  • Pre-licensing expenses: You can study on line or class room setting. In retrospect, I would recommend that you participate in a classroom setting instead of the online approach.
  • CE-Continuing education. I spent $1500/year for 3 years to earn the GRI-designation (graduate real estate institute). Only about 5% of all realtors earn this coveted designation. It is well worth the expense to gain this knowledge.
  • Annual State licensing fees: varies by state
  • Regional/national fees.(if with a major firm):I am with RE/MAX-Executive Group and pay $400/year to the national franchise.
  • Monthly office fees: This is dependent on your agreement with your broker/owner of the firm where you post your license. You could be on a 70/30, (70% of commission split to agent & 30% to broker/firm). I currently am on the 95/5 split. Under this plan I pay $1200/month to the office to participate in this program. Since I am a seasoned seller with 37 years sales experience, I had the confidence to select this commission program
  • Columbus GA MLS fees: Included in my monthly office fees
  • State MLS:$40/month, provides expanded coverage for listings
  • Zillow leads: I currently pay $275/month
  • Vehicle expenses:$200-300 fuel expenses,$400/month vehicle payment
  • Smart phone cell expenses: Currently $200/month
  • Marketing expenses:
    • Web site: Initial setup $500 plus maintenance fees for updates
    • SEO site maintenance: My webmaster also shoots my videos & listing photos. He performs web site maintenance, consulting. Can be $150-$300/month.
    • You tube videos: Lots more informative versus a silly slide show.
    • Listing photos: My webmaster takes my photos and videos
    • Radio: Affordable and it can definitely reach lots of potential customers/clients.
    • Vehicle wrap: Mine cost $2300 put have had a 100 fold ROI (return on investment).

In closing, Columbus GA has 658 realtors. In most selling sectors 80% of the sales are produced by 20% of the sellers involved. The bottom line is to do this real estate career “full time” or not at all!

*Disclaimer: The comments of this article are my own views. They are not intended to cover all situations. Certainly contact “The Full Service Realtor” to assist you when buying or selling your next home, or investment property. In special situations, it may be in your best interest to contact a real estate attorney.

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Real estate career expenses. 762 822-6411
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