Do you remember watching Regis every week ask the person in the chair… “Ready to play ‘Who wants to be a Millionaire?’” The lights went down, the music played, and we would all guess along to see if we’d made the right decision.

The decision to become a real estate agent feels a lot like that. Your heart is pounding, everyone’s got an answer about what you should be doing, you’ve got high hopes, and your friends and family are watching along in both admiration and a little bit of terror.

Now, I know what you’re thinking, and YES! This is absolutely an exciting move! I love being in real estate, I know it’s where I’m meant to be, but no one gave me a true picture of what to expect and I’m frustrated by watching new agents full of enthusiasm fail out of real estate in the first three months because no one gave them a true picture of costs. 

To be direct – It is highly unlikely that a new agent will have a sale in their first two months because they are finding people who are looking to make a move, building trust with their friends and family in this new role, showing houses, and praying that their buyers can compete with the multiple offers happening at this moment. 

Below is my best accounting of what to expect in fees, costs, and investments in those first months BEFORE you have your first check.

I realize the number at the end may feel like a mountain, but I promise that if you don’t have a minimum savings in the beginning the lack of a commission check in those first few months will feel like a lack of oxygen as you go to bed each night until you do get someone under contract. Better to over-save in the planning process than run out along the way.

Okay, let’s break down these getting costs: