I think the Straits Times over-glamorised the real estate profession in its multi-page spread on “Rodeo Realtors” yesterday.
In terms of their income.
Maybe the writers were being very selective and showcased only the highly successful property agents.
But I don’t think it’s a stretch to say that the article may mislead a few young minds, much like the way some insurance agencies and MLM firms “encourage” their new recruits (see comment).
The ST article showcased 7 real estate agents:
- Male, 36, 2 months’ experience, $10k average monthly income
- Male, 53, 2 years’ experience, >$50k average monthly income
- Female, 35, 4 years’ experience, $10k average monthly income
- Female, 26, 3 years’ experience, $10k average monthly income
- Female, 38, 7 years’ experience, $7k to $10k average monthly income
- Male, 36, 2 years’ experience, $5k average monthly income
- Female, late 40s, >10 years’ experience, >$26k average monthly income
But, according to the MOM Report on Wages, the top 25% of real estate agents make a gross monthly income of $4,647 (at the 75th-percentile mark). See post.
So the agents listed above are all in the top 25%, with 6 of them hugely successful by most standards.
Or, if these agents are the “average”, there may be a discrepancy between the MOM numbers and reality.
Either way, people will be flocking to be property agents. Hopefully they will not be too disappointed.