How Much Do Real Estate Agents Make?

How Much Do Real Estate Agents Make

A career as a real estate agent is one way you could work from home, decide your own hours, and still make $50,300 a year.

Explore this Guide:

What Do Real Estate Agents Do?

In the real estate business there are real estate brokers and then there are real estate agents. Both of these professions primarily help their clients buy or sell houses and rental properties. They do this by showing properties, negotiating on behalf of their clients, and handling all the complicated paperwork involved in purchasing or selling a home.

But real estate brokers are a little farther in their career path. They are the ones that in charge of real estate businesses and manage all the real estate agents that work in their area.

How to Become a Real Estate Agents

1. Get licensed

Some real estate employers prefer to hire real estate agents with college degrees. If you have a higher education in business and real estate then you might have an easier time finding success as a real estate agent. You might also get paid a higher wage if you have a college background.

But real estate agents only need to complete a few courses to receive their real estate license and begin working in the industry. To get licensed they’ll have to take educational courses and pass an exam with their state.

Skills Real Estate Agents Need

Communication Skills real estate agents have to talk to people every day, so if you aren’t a very social person, this job might not be for you. Agents spend lots of one on one time with house buyers, couples, and families to guide them through the home shopping and buying process.

Mediator Skills real estate agents also spend a lot of time mediating needs and negotiating prices and contracts. They have to be a voice for their client in many situations and mediate contractual needs between buyers and sellers.

Organizational Skills real estate agents work with multiple clients at one time and deal with a lot of paperwork. They need to be able to stay organized and manage the legal and paperwork side real estate so that their clients don’t have to.

Business Know-How real estate agents work in the real estate business. They need to know how to keep tabs on business trends within their industry so they can advise their clients.

How Much Do Real Estate Agents Make a Year?

How Much Do Real Estate Agents Make a Year

Real estate agents can expect to make anything between $23,130 and $109,490 as their annual salary with $59,630 a year being the median annual salary for real estate agents.

How Much Do Real Estate Agents Make a Month?

How Much Do Real Estate Agents Make a Month

Real estate agents can expect to make anything between $1,927 and $9,124 as their monthly income with $4,969 a month being the median annual salary for real estate agents.

How Much Do Real Estate Agents Make a Week?

How Much Do Real Estate Agents Make a Week

Real estate agents can expect to make anything between $481and $2,281 as their weekly salary with $1,242 a week being the median annual salary for real estate agents.

How Much Do Real Estate Agents Make an Hour?

How Much Do Real Estate Agents Make an Hour

Real estate agents can expect to make anything between $11.12 and $52.64 as their hourly wage with $28.67 an hour being the median annual salary for real estate agents.

Real Estate Agents Pay by Location

Real Estate Agents Pay by Location

  • How Much Do Real Estate Agents Make in Texas? $72,480
  • How Much Do Real Estate Agents Make in California? $68,860
  • How Much Do Real Estate Agents Make in Florida? $57,520
  • How Much Do Real Estate Agents Make in NC (North Carolina)? $61,580
  • How Much Do Real Estate Agents Make in NYC (New York City)? $104,180
  • How Much Do Real Estate Agents Make in PA (Pennsylvania)? $66,550
  • How Much Do Real Estate Agents Make in Utah? $62,050
  • How Much Do Real Estate Agents Make in Ohio? $41,650

Real Estate Agents Pay by Experience

Real Estate Agents Pay by Experience

  • How Much Do Real Estate Agents Make with Less Than 1 year of Experience? $41,001
  • How Much Do Real Estate Agents Make with 1–4 years of experience? $45,735
  • How Much Do Real Estate Agents Make with 5–9 years of experience? $51,512
  • How Much Do Real Estate Agents Make with 10–19 years of experience? $60,968
  • How Much Do Real Estate Agents Make with 20 or more years of experience? $68,467

How Much Commission Do Real Estate Agents Make?

Most often, real estate agents receive their pay through commission. The commission is the pay a sales agent receives after a sale has successfully gone through. How much agents make in commission is usually determined as a percentage of the final price of the home. This percentage is often negotiated between the agent and the client, but the most common commission is 6% of the sale price.

How Much Do Real Estate Agents Make Per Sale?

This means that generally, real estate agents will make 6% of the sale, per sale they finalize. For example, if a home costs $500,000 then the real estate who closed that sale will make $30,000 per sale. In this way, real estate agents can make a lot of money each year, depending on how many home sales they are able to close.

How Much Do Commercial Real Estate Agents Make?

Real estate agents don’t sell homes. Instead, they sell commercial properties like buildings, offices, medical centers, hotels, malls, stores, and warehouses. Rather than working with families looking for a forever home, they work with a company’s residential needs. A commercial real estate agent can expect to make about $85,000 per year.

How Much Do Part-Time Real Estate Agents Make?

Many real estate agents choose to work from home and only work part-time. This job is an especially smart choice for anyone looking to only work part-time. Part-time real estate agents can expect to make around $573 a week.

 

Working from home can provide a lot of benefits to your bank account and your lifestyle and working as a real estate agent can potentially make this happen. But if you need help covering expenses while you figure out where you want to take your career, consider taking out a Check City Personal Loan.


Sources


US Bureau of Labor Statistics. “Real Estate Brokers and Sales Agents.”

Street Easy. “In NYC, the Average Real Estate Agent Salary is $104,180.”

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