Being a realtor in Metro Boston is a little different than other major cities. Housing costs are less than only 3 other major cities in the US: New York, San Francisco, and Honolulu. Boston comes in at number four in the nation. People have to pay an extraordinary amount for housing, while wages haven’t changed much in Boston in nearly 20 years. You’ll face some unique challenges, but there are definitely some distinct advantages to joining Metro Boston’s community of real estate agents.
Student Driven Market
The student population controls much of the housing demand in Boston. September is the biggest rental month for a reason. In fact, many agents who work exclusively in rentals work only between March and the end of August. Students don’t face closed doors to individual buildings in the way that they do in other cities. Virtually all buildings will accept students, so long as their rental applications include a cosigner with good credit. To learn the most about Metro Boston’s student-driven student market, take your real estate licensing course waltham or a comparable area that where there are a lot of students and young professionals.
Commissions from Multiple Sources
Unlike many US cities, it’s very common for tenants or landlords to pay a rental agent’s commission, so you have more than one source for commissions. Every rental typically generates a commission equivalent to one month’s rent. What percentage of that fee goes directly to the agent depends on the brokerage. Typically, brokers will pay about 50% of the commission, but some brokerages pay as much as 70% of the commission.
A Close-Knit Professional Community
When you’re working as a real estate agent in Boston, you’ll be joining a great professional community. There are a lot of professional associations and networking activities that you can take part in.