Dennis is a new licensee who's estimating his annual gross income for his first year. He plans to close at least five transactions that year, and he's researched average home prices in the area where he'll be working. Dennis finds that the average sale price is $280,000. What other data point does he need to complete his estimate?

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The Alabama 30-hour post-licensing course is required for new salespersons to transition from temporary to permanent licensure, covering practical topics like risk management, contracts, and agency. It includes module quizzes and a proctored final exam, often requiring a 70% or higher passing score to satisfy the Alabama Real Estate Commission (AREC).  Key Details About Post-Licensing Course Exams: Course Content: The 30-hour course focuses on real estate business planning, prospecting, and documents. Structure: The course is divided into units/modules, each typically requiring a passing... Show more

1. Dennis is a new licensee who's estimating his annual gross income for his first year. He plans to close at least five transactions that year, and he's researched average home prices in the area where he'll be working. Dennis finds that the average sale price is $280,000. What other data point does he need to complete his estimate?