I don’t know about you, but when I hear the word “licensed” or “accredited” I think about someone who has gone through rigorous training to pass a state exam or industry credentialing.
We might also assume that with the magical credential one also receives a fixed payment for his or her services. And while this might be true for some credentialed professions, many more only get paid based on what they produce.
Think of these professionals as season ticket holders who have to first purchase a ‘seat license’ before they have the ‘privilege’ of paying for their actual tickets.
Why do doctors need to be licensed?
That is a great question, and besides the fact we all want competent folks performing surgeries, making diagnosis, etc. There is also a darker side to medical licensing. The sad fact is that it’s kind of a racket. But we will examine the merits of healthcare licensure in another blog post. Let’s get back to the specific issue of what type of “commission only” professionals need to be licensed.
One of most obvious professions that requires a license a pays only on commission is a Realtor. Real Estate Agents only get paid when a property is either bought or sold. Can you think of other professions that have commission only compensation structure?
The point of the post isn’t so much to come up with the definitive list of ‘commission only’ careers. The point is to get you think about how you will make money in your chosen career, especially if you are going to be working on commission. It’s been said that every profession is a “sales profession”, and to a certain extent this is a true statement.