A week ago, I got a verbal job offer to be a Leasing Agent/Property Manager. They want to give me a base salary of $15K. That is $15 an hour. It is a contract job. They want to start me out part time. If you are familiar with real estate, a lot of agents only make commission with no base salary. They said they are going to teach me the ins and outs of the industry and start me out part time because I do not have my license yet. They want to start me out managing the office, answering phone calls, etc, so I can get a good idea of what property managing is like. Then I will be doing more down the road, as a I obtain my license and more.
Yes, I have the opportunity to make commission. I asked when I would be able to make commission during second interview. They said, “Almost immediately”, but not a specific timeframe.
Commission would be 50%. Luxury apartments start at $2K here, and when I become more established, they want me to close 7 apartments a month. So that would be at least $7K a month. But when I start making commission, that would mean no base salary.
Contract states, “A Temporary Base salary of Fifteen Thousand Dollars per Year up until (my name) has completed a full year of employment. In which time the Temporary Base Salary will be automatically cancelled and (my name) will be a full commission Employee.”
I know I have the opportunity to make commission later down the road, but I feel like I deserve more than $15K in the beginning. Hiring Manager verbally stated I would be part time at first, but it does not state “part time” in the contract. Am I overthinking this? Because what if they overwork me, and I'm not making commission yet, then I am stuck with $15K for the year…
I was making $18 an hour at my old job. I want $18-$22 or more per hour starting for this job at least. Or am I being too greedy? Because I know I will get commission at some point and that base salary will go away, but I just don't know when. How do I ask for more of the base salary? Should I continue with the contract?
I guess this just concerns me because I literally have $162 in my bank account. A leasing agent license costs $240. They made it seem like they were gonna pay for it during the second interview. Though in the contract it states that “out of pocket” expenses they would pay are non applicable. Maybe I just misinterpreted. Though they said that I didn't have to worry about finding licensing online and they would set me up with Chicago Association of Realtors licensing.
Also something else that bothers me:
-They made me wait 20 mins the beginning of the second interview because they were moving stuff.
-Large and different salary ranges for their job posting:
(Indeed: $32,000-$75,000 per year / Company website: $38,000-$85,000+ per year)
From these things that I am saying, does this sound like a good job? If this is a good job, how do I ask for more base salary? Should I sign the contract or not? Because something in me doesn't know if this is right for me…