New Guy,
One quick note, as SD R said I highly doubt that agent did 20 transactions a year. My guess is that 1 to 2% of agents do that type of volume and most have a team to accomplish it. I know an agent that does that kind of volume by himself and has for over a decade. He easily works 80 hours per week and is extremely shrewd. Agents that do that much business are not overpaid, they earn what they make through working hard and being at the top of their profession. I would estimate that less than 2% of agents make $200K incomes.
The real culprits of the overpaid are often the stay at home mom’s that get a license and do 1 to 3 transactions a year working part time for friends and acquaintances. They are the same incompetent agents that thought it was easy because real estate always goes up. More often than not, it is these agent’s representing themselves who got into trouble.
