Are you considering becoming a real estate agent? Here’s how much you can make!
As the real estate market expands and recovers from the recession, we’re seeing more and more real estate agents at work helping clients buy and sell homes. If you’re thinking about becoming a real estate agent, you may be wondering what you can expect to make as a rookie and what your long-term prospects are. Here’s how much you can expect to make in the first few years of becoming a real estate agent!
1) Agents who sell homes in 2018 will likely earn $51,420
The average annual salary for real estate agents is $51,420. This figure varies greatly depending on which state you’re working in. The Bureau of Labor Statistics (BLS) revealed that California, New York and Nevada are among states with some of highest income potential for realtors. If your dream is to own beachfront property in Honolulu or sell multi-million dollar properties in LA, then yes, becoming a successful broker might be right up your alley.
2) Other Considerations when Becoming a Real Estate Agent
Every career has its pros and cons. Becoming a Realtor is no different. While there are several good reasons to join our profession, there are some potential downsides, as well. If you’re interested in working with buyers and sellers (and making money!), read on to discover whether or not it’s right for you.
3) How Much do Real Estate Appraisers Make?
The U.S. Bureau of Labor Statistics estimates that, as of May 2015, about 13,000 people in America were employed as appraisers and assessors of real estate. Overall, these professionals earned an average salary of $51,720 per year—but specific salaries varied widely depending on factors like education level and location.
4) What is Considered a Good Income for a Real Estate Agent?
While there is no formal salary range for people in your role, if you’re able to bring in anywhere from $20,000-$30,000 per year or more, that would be considered a good income. Keep in mind that while some agents will do well and others will flounder and even fail—not because of their hard work and commitment but simply due to market conditions—the average amount an agent brings in each year is $50,000.