will list a house on the M.L.S. for as little as $99 per listing, the M.L.S. charges about $500 per year. The M.L.S. is a money saver if an agent lists more than five properties per year. The problem is that most agents will also have to join N.A.R. in order to acquire M.L.S. membership, and N.A.R. membership will cost an average of $4,000 per year. In a nutshell, an agent typically needs about $5,500 to get their foot in the real estate industry door, and that's no walk in the park. Furthermore, if your real estate career doesn't end in the first year, neither will the expenses. In fact, according to The National Association of Realtors member profile in 2019, N.A.R. members' total continuing business expenses were a little under $5,000 per year. That figure includes some maintenance costs described above but mainly will cover: • Professional association memberships (N.A.R., state and local boards) • Multiple Listing Service (M.L.S.) membership • Yearly lockbox fees • Office space (whether cubicle, semi-private, or private) • Office Supplies • Professional website • Business cards • Marketing materials • Computer hardware and software • Phone and internet service • Client lunches, entertainment, and gifts • Vehicle expenses • Professional development, conferences, and other networking opportunities Money... With the average American having less than $1,000 in savings, xxi
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