Thursday, January 7, 2016
Why California is a Great Place for a Real Estate Career
California is known for its' beautiful weather, people, and luxurious lifestyle. It seems like it's everybody's dream to live in California. And while California is certainly a great place to live, it's an even better place to work. California has some of the highest wages in the country, although taxes are still higher than any other state.
Regardless, California remains a great place to work, and outside of Hollywood, the industry that does the best in California is arguably its' real estate industry. If you've never thought about a real estate career, then you're missing out on a huge opportunity. California is a gold mine for real estate agents, and here's why California is a great place for a real estate career:
Home prices are high
Wages in California are higher than most other states, particularly in Southern California. This means home prices are typically more expensive than most areas in the United States. A $150,000 house in Illinois can cost as much as $700,000 in certain areas of California like Palo Alto.
California home prices are incredibly valuable thanks to the allure of living there and the various industries in the state. This means real estate agents can strike gold by simply selling a few properties a month. At 2%, a real estate agent can make $70,000 per month selling just 5 homes valued at 700k. Imagine what the top real estate agents make.
The demand is always incredibly high
California real estate is always in demand, and parts of the state it's so high that home prices are downright ridiculous. There never seems to be enough homes in California, and this does well for real estate agents, since they can essentially take on as many clients as they want. They really never is any downtime unless they want there to be.
Earnings potential is almost unlimited
We've hinted at this already a little bit, but working in real estate generally implies that you'll be paid via commission. You'll still get a salary, but the majority of your income is made via commission. This means one thing - your earnings is essentially uncapped. The more property you sell, the more you'll make - it's really that easy.
Well, it's not necessarily easy, but if you've got sales skills, then you can potentially earn six figures without question every year for the rest of your life. Heck, the top 10% make well over $150,000 per year, and the top 5% clear $250,000 even after taxes.
Working in real estate in California is an incredible thing that can make you a significant amount of money. It's rewarding to know you're helping your clients find properties they truly love, and if you decide to make the right choice by working in real estate, then you'll undoubtedly enjoy success for the foreseeable future.