Real Estate Agent Salary

Real estate agent is sort of broking job. A real estate agent should work out a deal for a property sale between a prospective buyer and a prospective seller. It can be a job of high earning potential. But the real estate agent should work hard to achieve that. A lot of real estate agents work as consultants. It may not be their full-time job. This can be done during the free time of another full-time job. But such juggling of jobs needs high-energy quotient and expertise in time management. Since it is not a full-time job, there is no fixed salary. The real estate agent gets a fixed percent of total amount of land sale from both the buyer and the seller.

There is absolutely no limit for the salary of a real estate agent, when working as freelance consultant. As they say in advertisements, sky is the limit for the salary of land brokers. The harder one works and more sales one engineers, the more will be the money one earns. But for earning a good monthly income, the freelance real estate agents should be highly industrious and have good inter-personal communication skills. In general, real estate agents should be well versed with the value of a property. They should be able to do a quick valuation of the property and should be able to explain the aspects that influence the price of the property and convince both parties about a reasonable price.

There are plenty of real estate firms and agencies that employ real estate agents. In such firms, the agents have a fixed monthly salary. The salary varies from agency to agency. Usually it depends on the volume of business done by the agency. There are some agencies that provide a pay based on the number of real estate sales materialized by a particular employee. In general, the annual salary of a real estate agent, who works in any of the established firms, varies from $25000 to $75000. There are a minority of real estate agents who earn a salary even less than $25000. Some agents working in start-up companies only earn an annual salary of only $10000. Such a large variation of salary can be explained by the fact that some real estate agencies have more business volume than some of smaller fish in the real estate fray.

Also the commission-wise salary and sales-wise salary affect the annual pay. There are some months, especially in the winter months of November, December and January, in which conventionally real estate business are somewhat fewer. So in the case sales-wise salary structure, the salary suffers a dip in those months. But the sales move up from March to September. So will be the salary in those months.

Ian Pennington is an accomplished niche website developer and author.

Real Estate Job: Top Three Factors Determining a Real Estate Agent Salary-Lucrative Job!

Since the economy started to spiral down in 2008, many people had difficulties finding jobs because their skills, training and experience that used to be in demand are no longer sought-after or salable. Hence, people have explored other possibilities such as undergoing retraining and having a career shift. On the other hand, while other professions have gone less in demand, people in the real estate market are steadily growing in number. In fact, according to the Bureau Labor of Statistics, the number of agents will increase up to 16 percent at the end of 2018. Despite the bad economy, the real estate agent salary remained fixed. They get 6 percent of the total value of the house they sold or found for a buyer or seller, and they divide it to half to their broker. Their service is very much needed these days because people are selling their properties and homes and they need professional help to be able to dispose their homes to their advantage.

An average agent’s salary is as high as $45,000 per annum. The majority of them earn $65,000 per year, and there are some who earn above $95,000 annually. A real estate agent’s income highly depends on three factors-who they work for, where they are located and the number of deals they closed.

Company

The common place of employment of agents is at a broker’s office. A broker makes money after his agent sells or finds a property for a client. The broker gets 6 percent of the price of the property sold and splits it with his agent. The real estate agent salary is estimated to be around $45,000 to $ 65,000 per annum for those who work under a broker. Agents who work in companies that also have an insurance business on the side earn higher (e.g. those who work in leasing offices and with developers).

Place

The location of properties affects their value and demand. Naturally, the agent’s salary also depends to their location. Agents in New York, Illinois, Vermont and North Carolina earn $65,000 to $85,000 per annum.

Closed Deals

Agents do not have a fixed salary. They receive commissions per successful transaction. An agent’s ability to close deals largely depends on his/her marketing strategy, personality, training and experience. People from all walks in life can become agents if they get training and pass the state licensure exam. People can even enroll in an online program to get a certificate to prepare them for the state exam. It is cheap. For 150 hours online training, you will only spend around $500. For more information about a real estate agent salary, please visit Salary.com.

Real Estate Careers – Information about a Career in Real Estate

Real estate agents are independent licensed professionals. Many people call this a job but it really is an entrepreneurial, independent position, IE: Business. It is better classified as a business because it carries the following characteristics:

1. It has multiple start up costs.

2. Licensed by State or Province.

3. Many agents operate under business names.

4. Expenses such as: Shuttling potential clients around, dinners & lunches with potential clients, advertising costs & office expenses etc.

5. Most agents right off most expenses as a business for tax reasons.

Jobs on the other hand are generally free to find & get started. You do not have the opportunity to right off expenses because you will be classified as an employee.

How much can you make as a real estate agent?

First of all real estate agents get paid by commission. They usually get paid anywhere from 5 to 10 percent of the selling price of the home. This can be good for you if you are a good salesman. The more homes you sell, the more income you can make.

Here are the 2006 US Estimates from the lowest to the highest:

o The lowest 10 percent earned less than approximately $20,170.

o The average agent (25 – 50 %) earned approximately between $26,790 – $39,760

o The top 5 percent earned approximately $111,500 +

How much does it cost to become a real estate agent?

It may cost you anywhere from $2,000 to $5,000 to go through the full licensing procedure depending on what state or province you are located. This is only the bare requirements of obtaining a real estate license. Find a licensed school near you for more detailed information on obtaining your license.

How many positions are there?

Based on the constant up & down real estate market, it would be very hard to say exactly how many positions there are currently. You would have to take in to consideration how many agents may be potentially leaving this industry, the amounts of properties for sale & the current market (buyers or sellers).

In 2006 in the US there were approximately 432,000 positions. You would also have to take in consideration to what area you are planning to business in. Generally if you are in a big city there will be more positions available but also a lot of competition as well.

What does it take to succeed in real estate?

The real estate agents who do extremely well are usually in the top 5 percent. You can drive down any street in your neighbourhood & plainly see the main names of these top earners almost everywhere. Most of these people have one thing in common. They are achievers & very good in sales. More than that, they are very good communicators, quick thinkers, organizers, & excellent in customer service. It takes a special breed to become a top realtor. It all starts with a burning desire or passion for this business. Many have gotten in to this industry & out just as fast mainly because of the transition from employee to entrepreneur. It takes a lot of courage for anyone to make this transition because of the whole principal behind this. Most people want job security & have a hard time digesting the fact that their commissions are not guaranteed. The flip side on this issue is that the top real estate earner has surpassed this level of thinking & reaps the rewards of being an entrepreneur.

If you are considering real estate as a career & are prepared to do what it takes to succeed then this can be a very rewarding career move. If you are the type of person who wants to stay safe with a steady pay check this may not be for you. Please keep in mind that anyone who makes $100,000 + per year most likely has made a commitment to their business & themselves.

The top realtor’s have gone the extra mile in this career & are highly compensated for their efforts.

Other options instead of real estate:

1. Life insurance agents.

2. Mortgage specialists.

3. Car Sales.

4. Travel Agents.

5. Direct Sales Consultants (Home Based)