It’s no secret that commission rates have been declining and it’s also no secret that rate will continue to decline. According to real trends, the average commission rate is under 5%, yet when you ask a lot of agents or consumers they’ll tell you that commissions are 6%. It is this false narrative that is a driving factor in the overabundance of real estate agents in the US. In fact, there are about 5.6 million existing home sales per year, and an estimated two million real estate agents. That’s one agent for every 2.6 houses that sell. This perception that the job is easy, and that you get 3%, is a driving force that brings so many people into the industry, but the reality of lower commissions and incredibly hard work is what causes 80% of new agents to quit within two years.
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