Realtors and Lenders LOVE what they do, and they do it because they LOVE helping people, but there is almost always a huge misconception on what they do and how they get paid. It’s not a secret, so here you go…. In no other industry does the consumer ask the service provider to give up their paycheck to help them either!

The average FULL TIME Real Estate agent earnings last year was $31,900 @ 40+ hours a week. (Notice I wrote full time 40+ hours, not 0-20 hours a week) which is well below the living wage. As a REALTOR, they do not get paid an hourly wage or salary, and they only get paid if they sell a home and it closes. They can only get paid by broker to broker. As an agent, you could work with someone for days, weeks, months, or years with no guarantee of a sale.

Essentially, they wake up each day unemployed, going on Job Interviews, and they deal with constant rejection. They dedicate time away from family, use their time and gas, pay for babysitters, miss dinner and weekends, and rarely take vacations. They are on 24/7!

You constantly need to be on, or you could miss an opportunity. Once they do close a home, there are upfront expenses that must be paid out before they can get paid:

Broker Splits and Fees

Office rent and utilities

MLS Fees

NAR Fees

Local Association Fees

E&O Business Insurance

Extended Auto Insurance

Self-Employment Tax

State Licensing Fees

Advertising Fees

Showing Service Fees

Website Fees

Assistant’s Salaries

Showing partners

Transaction Coordinator

Yard Signs

Photographers

Videographers

Office Supplies

Business Cards

Property Flyers

Electronic Lockboxes

Continued RE Education

Legal Fees

Gas

Income taxes are not taken out, so they have to put that aside around 25-30%.

Don’t forget health insurance if you don’t have a spouse who provides it.

As a listing agent, they have lots of tasks that can extend well beyond selling a home.

1. Prepare Listing Presentation for Sellers

2. Research Sellers Property Tax Info

3. Research Comparable Sold Properties for Sellers

4. Determine Average Days on the Market

5. Gather Info From Sellers About Their Home

6. Meet With Sellers at Their Home

7. Get To Know Their Home

8. Present Listing Presentation

9. Advise on Repairs and/or Upgrades

10. Provide Home Seller To-Do Checklist

11. Explain Current Market Conditions

12. Discuss Seller’s Goals

13. Share Your Value Proposition

14. Explain the Benefits of Your Brokerage

15. Present Your Marketing Options

16. Explain Video Marketing Strategies

17. Demonstrate 3D Tour Marketing

18. Explain Buyer & Seller Agency Relationships

19. Describe the Buyer Pre-Screening Process

20. Create an Internal File for Transaction

21. Get Listing Agreement & Disclosures Signed

22. Provide Sellers Disclosure Form to Sellers

23. Verify Interior Room Sizes

24. Obtain Current Mortgage Loan Info

25. Confirm Lot Size from County Tax Records

26. Investigate Any Unrecorded Property Easements

27. Establish Showing Instructions for Buyers

28. Agree on Showing Times with Sellers

29. Discuss Different Types of Buyer Financing

30. Explain the Appraisal Process and Pitfalls

31. Verify Home Owners Association Fees

32. Obtain a Copy of HOA Bylaws

33. Gather Transferable Warranties

34. Determine Need for Lead-Based Paint Disclosure

35. Verify Security System Ownership

36. Discuss Video Recording Devices & Showings

37. Determine Property Inclusions & Exclusions

38. Agree on Repairs to Made Before Listing

39. Schedule Staging Consultation

40. Schedule House Cleaners

41. Install Electronic Lockbox & Yard Sign

42. Set-Up Photo/Video Shoot

43. Meet the Photographer at the Property

44. Prepare a Home For the Photographer

45. Schedule Drone & 3D Tour Shoot

46. Get Seller’s Approval of All Marketing Materials

47. Input Property Listing Into The MLS

48. Create Virtual Tour Page

49. Verify Listing Data on 3rd Party Websites

50. Have Listing Proofread

51. Create Property Flyer

52. Have Extra Keys Made for Lockbox

53. Set-Up Showing Services

54. Help Owners Coordinate Showings

55. Gather Feedback After Each Showing

56. Keep track of Showing Activity

57. Update MLS Listing as Needed

58. Schedule Weekly Update Calls with Seller

59. Prepare “Net Sheet” For All Offers

60. Present All Offers to Seller

61. Obtain a Pre-Approval Letter from the Buyer’s Agent

62. Examine & Verify Buyer’s Qualifications

63. Examine & Verify Buyer’s Lender

64. Negotiate All Offers

65. Once Under Contract, Send to the Title Company

66. Check if the Buyer’s Agent Has Received Copies

67. Change Property Status in MLS

68. Deliver Copies of the Contact/Addendum to the Seller

69. Keep Track of Copies for Office File

70. Coordinate Inspections with Sellers

71. Explain the Buyer’s Inspection Objections to the Sellers

72. Determine Seller’s Inspection Resolution

73. Get All Repair Agreements in Writing

74. Refer Trustworthy Contractors to Sellers

75. Meet the Appraiser at the Property

76. Negotiate Any Unsatisfactory Appraisals

77. Confirm Clear-to-Close

78. Coordinate Closing Times & Location

79. Verify Title Company Has All Docs

80. Remind Sellers to Transfer Utilities

81. Make Sure All Parties Are Notified of Closing Time

82. Resolve Any Title Issues Before Closing

83. Receive and Carefully Review Closing Docs

84. Review Closing Figures With Seller

85. Confirm Repairs Have Been Made

86. Resolve Any Last Minute Issues

87. Attend Seller’s Closing

88. Pick Up Sign & Lock Box

89. Change Status in MLS to “Sold.”

90. Close Out the Seller’s File With the Brokerage

As a buyers agent, they also have many tasks.



1. Schedule Time To Meet Buyers

2. Prepare Buyers Guide & Presentation

3. Meet Buyers and Discuss Their Goals

4. Explain Buyer & Seller Agency Relationships

5. Discuss Different Types of Financing Options

6. Help Buyers Find a Mortgage Lender

7. Obtain a Pre-Approval Letter from Their Lender

8. Explain What You Do For Buyers As A Realtor

9. Provide an Overview of Current Market Conditions

10. Explain Your Company’s Value to Buyers

11. Discuss Earnest Money Deposits

12. Explain Home Inspection Process

13. Educate Buyers About Local Neighborhoods

14. Discuss Foreclosures & Short Sales

15. Gather the Needs & Wants Of Their Next Home

16. Explain School Districts Effect on Home Values

17. Explain Recording Devices During Showings

18. Learn All Buyer Goals & Make A Plan

19. Create Internal File for Buyers Records

20. Send Buyers Homes Within Their Criteria

21. Start Showing Buyers Home That They Request

22. Schedule & Organize All Showings

23. Gather Showing Instructions for Each Listing

24. Send Showing Schedule to Buyers

25. Show Up Early and Prepare First Showing

26. Look For Possible Repair Issues While Showing

27. Gather Buyer Feedback After Each Showing

28. Update Buyers When New Homes Hit the Market

29. Share Knowledge & Insight About Homes

30. Guide Buyers Through Their Emotional Journey

31. Listen & Learn From Buyers At Each Showing

32. Keep Records of All Showings

33. Update Listing Agents with Buyer’s Feedback

34. Discuss Home Owner’s Associations

35. Estimate Expected Utility Usage Costs

36. Confirm Water Source and Status

37. Discuss Transferable Warranties

38. Explain the Property Appraisal Process

39. Discuss Multiple Offer Situations

40. Create Practice Offer To Help Buyers Prepare

41. Provide Updated Housing Market Data to Buyers

42. Inform Buyers of Their Showing Activity Weekly

43. Update Buyers On Any Price Drops

44. Discuss MLS Data With Buyers At Showings

45. Find the Right Home for Buyers

46. Determine Property Inclusions & Exclusions

47. Prepare Sales Contract When Buyers are Ready

48. Educate Buyers On Sales Contract Options

49. Determine Need for Lead-Based Paint Disclosure

50. Explain Home Warranty Options

51. Update Buyer’s Pre-Approval Letter

52. Discuss Loan Objection Deadlines

53. Choose a Closing Date

54. Verify Listing Data Is Correct

55. Review Comps With Buyers To Determine Value

56. Prepare & Submit the Buyer’s Offer to the Listing Agent

57. Negotiate Buyers Offer With Listing Agent

58. Execute A Sales Contract & Disclosures

59. Once Under Contract, Send to the Title Company

60. Coordinate Earnest Money Drop Off

61. Deliver Copies to Mortgage Lender

62. Obtain a Copy of the Sellers Disclosure for Buyers

63. Deliver Copies of the Contract/Addendum to Buyers

64. Obtain A Copy of HOA Bylaws

65. Keep Track of Copies for Office File

66. Coordinate Inspections with Buyers

67. Meet the Inspector At The Property

68. Review Home Inspection with Buyers

69. Negotiate Inspection findings

70. Get All Agreed Upon Repair Items in Writing

71. Verify any Existing Lease Agreements

72. Check In With the Lender To Verify the Loan Status

73. Check on the Appraisal Date

74. Negotiate Any Unsatisfactory Appraisals

75. Coordinate Closing Times & Location

76. Make Sure All Documents Are Fully Signed

77. Verify Title Company Has Everything Needed

78. Remind Buyers to Schedule Utilities

79. Make Sure All Parties Are Notified of Closing Time

80. Solve Any Title Problems Before Closing

81. Receive and Review Closing Documents

82. Review Closing Figures With Buyers

83. Confirm Repairs Have Been Made By Sellers

84. Perform Final Walk-Through with Buyers

85. Resolve Any Last Minute Issues

86. Get CDA Signed By Brokerage

87. Attend Closing with Buyers

88. Provide Home Warranty Paperwork

89. Give Keys and Accessories to Buyers

90. Close Out Buyer’s File Brokerage

Whew…exhausting, isn’t it!?!

You don’t need to buy or sell a home to support your agent’s real estate business – here are just a few simple ways to show your support!⁣

By sharing one of their listings, sending a friend or family member their way, letting them connect you with agents outside their area for a broker to broker referral, or leaving them a positive comment or review, this helps them feel seen and supported – (thanks to you)!