Home Buyers, Home Selling

How Do Realtors Get Paid?


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An age old question that comes up more often than you may think! How do Realtor’s get paid? It’s really a great question and that’s why I’ve dedicated a full podcast episode to that – listen to it on you favorite podcast app.

Subscribe to our podcast on SpotifyApple Podcast or Google Play. Search: “The Real Wausau Real Estate Show”.

Unlike most careers that have an hourly or salary rate that slowly grows over your tenure, Realtors get paid on commission. Commission in the real estate industry is often a percentage of the gross sale amount that is earned upon the successful closing of a home or land or real property.

For some, this is fantastic because there is no glass ceiling. The harder you work, the more you earn and the less you work, the less you earn. For others, this sort of income can cause anxiety and fear not knowing where the next deal is coming from… and I think that idea can be true in all of us in varying degrees.

Earning a commission-based income requires you to be thoughtful in how you’re saving / planning so you can sustain your business as an agent over your career. It can be exciting when you get that check after a successful closing, but realizing that your next closing is a couple of weeks or a few months out, will help you keep that “spending” mentality in check.

So… how much do Realtors actually make? Well, that depends too. It depends on the sale price of the home, their commission and a few other factors like area & location. In Central Wisconsin, with the homes being reasonably priced and the economic conditions staying pretty stable, I’d say about $40,000 – $60,000 would be a common average for a full-time agent. That may be quite a bit lower for first-year agents just getting in the industry or part-time agents that do a bit of business on the side, but that is just an average – remember that depends on a number of factors.

The location matters too. In larger cities, Realtors may make more per transaction and therefore they may not do as many deals but have a higher gross commission per sale so they are still making a decent wage. I’ve said it before but it really all depends!

If you’re considering the career, check out this podcast episode on what the career is like and how to get started? Maybe commission gets you excited because you like helping others and working in a sales environment.

If you have a chance to check out either podcast, or both, let me know what you think! I’d love to hear your feedback!

Brought to you by Austin Solomon | 715-212-4693 | Coldwell Banker Action

 

 

 

Team Member Highlight

Ranked #2 Nationally


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Our team is honored to be ranked #2 Nationally by Coldwell Banker for Small Teams by Total Units!

Thank you to all of our clients who’ve trusted us during their sale or purchase & a special thanks to each of our team members & office staff who’ve supported us along the way!

It truly takes a team. A special thanks to each team member – Austin Solomon, Dakota Karlen, Allison Karlen, Holly Hettinga and Angie Rhode for you work day in and day out!

Solomon Group Ranked #2 Nationally
Solomon Group Ranked #2 Nationally
Team Member Highlight

Meet Holly Hettinga, Marketing Coordinator


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Holly Hettinga, The Solomon Group
Holly Hettinga, The Solomon Group

Meet Holly Hettinga, Marketing Coordinator with The Solomon Group – Coldwell Banker Action.

Hi there! I’m Holly and I’m the one writing this blog today. I am Austin’s marketing coordinator and sister. Our team wants to highlight each of our members because each of us is so important to serving our clients and our team.

I started working with Austin in March of 2018, but let’s rewind a bit more. After graduating from D.C. Everest, I attended UW- Eau Claire for two years and graduated from UW-Stout with my degree in digital marketing technology.

After graduating, or actually during, I worked at D.R. Horton – America’s Largest Home Builder, in the Minneapolis – Minnesota Division office. My Digital Marketing Specialist role offered a ton of great learning experience and was fun, but after few years in a larger city (truly just the suburbs), I moved back to Wausau.

Shortly after my return, I started working with Austin primarily assisting with his paperwork. I was fully licensed at the time (and still am), so that came in handy for us both. The market was hot and we were running 24/7 it seemed like.

In 2017, Austin did 117 transactions on his own. In 2018, we just about doubled that with over 200. We can all agree Austin is a great Realtor, but together we were able to accomplish more and provide better service. Austin is still a rockstar!

After a year, I got very burned out and left my full-time roll with Austin later to come back after about 8 months… That was not an easy decision because I had a great job, great colleagues and didn’t know if making the transition back was the right move.

The truth is, you never know 100% of most things, you know about 90%, and it takes faith to fill in that 10% gap.

So, I went for it! It’s been great working alongside him (again) since September 2019. A lot of people ask me what I do and that’s a great question! I primarily assist with the marketing of Austin’s listings, his digital marketing, traditional signage marketing and other operational team duties as needed for the team to operate smoothly. We have a great team locally and our Coldwell office as well. So I enjoy both the work I do and the people I get to work with. Not to mention the clients we get to help, they are so great, that’s an added bonus!

Thanks for virtually meeting me and hope to connect soon! Connect with me on LinkedIn or like our Team Facebook Page.

We are always looking for good agents to join our team, so if you or someone you know is interested in real estate or is already licensed and wants to join a great team, contact Austin Solomon at (715) 212-4693 | austin@coldwellaction.com.

Home Buyers, New Home Construction

New Construction Homes


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New Construction Homes

Thinking about purchasing a new construction home in Central Wisconsin?

There are many new construction communities near you that you may be interested in, but before you jump into visiting homes, it’s a good idea to sit down with a Realtor to discuss what you’re looking for in a new construction home. New home constructions sale representatives are great to work with, but it can be helpful having a real estate agent who is solely representing you and can negotiate and offer experiential advice to help guide you throughout your purchase.

A real estate agent who is familiar with the local market and area builders may be able to offer additional insight based on your needs and wants based on their experience with builders.

There are two common new construction options buyer wills consider. The first is selecting or building a new home in a subdivision built by one primary builder. The second is purchasing a parcel of land and having a custom home builder built your custom dream home.

The first step I’d recommend is talking with your lender on your plans for new construction and talking over the loan programs available. It’s important to start here before getting attached to a particular plan or dream home, as having the funding is the first step.

From here I recommend finding a great local real estate agent near you and a local real estate company that can support you throughout your search and purchase. I often like to sit down with my buyers and have a brief consultation to learn about them and their goals.

From here we can look at what’s on the market that’s new and move-in ready, and what is under construction, including the estimated completion dates. “Spec homes” are a speculative builds the builder creates based on common market trends. They often build a few different varieties to appeal to the majority of consumers. These homes are often slightly cheaper in cost because they don’t have many custom features.

If you find a spec home that you like, that could be the golden ticket for you! If you don’t, your Realtor can help you stay on top of local building schedules for the next one or you can talk through purchasing a lot and your own plan.

Whatever your new construction goals are, our team is here to help those make a reality. Contact The Solomon Group to learn more or set-up a time to talk about your new construction needs.

This resource is brought to you by:

Austin Solomon | Realtor with The Solomon Group – Coldwell Banker Action (715) 212-4693

Coldwell Banker Action, Commercial Real Estate

Commercial Real Estate


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Commercial Real Estate

Thinking of selling or buying commercial real estate in Central Wisconsin? What are some things to consider if that transaction?

Commercial and residential real estate vary quite a bit. Not only are the contracts different, the use / purpose of the transaction varies vastly as well including the daily use, loan programs available, lender requirements, etc.

For this reason, selecting a competent Realtor to help with your commercial real estate transaction is very important, because a great Realtor may not always be a great commercial representative.

In my experience as a Realtor, I’ve helped with a few commercial transactions, but not many in comparison to my residential sales. With that being said, I choose to partner with Coldwell Banker Action Commercial Team to help our clients achieve their commercial goals, while providing the support of a commercial-focused team. Together, we specialize in marketing commercial real estate, negotiating contracts and supporting our clients each step of the way.

If you have a commercial property you’re looking to sell, lease or purchase, contact our team. We’d like to learn about your goals and how we can best support you and your business goals.

This resource is brought to you by:

Austin Solomon | Realtor with The Solomon Group – Coldwell Banker Action (715) 212-4693