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This question is about real estate agent.
Can you become a billionaire in real estate?
Yes, you can become a billionaire with significant real estate holdings and investments. It is unlikely that you will reach billionaire status as a real estate agent.
Some of the richest people in the world have achieved their wealth through real estate investments. Andrew Carnegie famously stated that 90% of all millionaires achieved their wealth as a result of real estate investment. While that statement was made over 100 years ago, real estate continues to represent one of the best ways of achieving significant wealth.
The term real estate is often used to describe both an investor in properties as well as someone who represents the sellers of properties. While it is true that real estate investors can become billionaires through the buying and selling of commercial real estate holdings, real estate agents typically cannot.
A real estate agent represents the seller and oversees the sale of a piece of property. Agents typically work on commission and can earn a great deal of money. Real estate agents in California, where property values are some of the highest in the country, can earn several million dollars per year based on the total value of property sales.
An agent selling $20 million dollars in a property at a 5% commission will earn approximately $1 million dollars.
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