What is the average salary of a real estate agent?
The salary of a real estate agent depends on where they work, the type of real estate they specialize in, and how long they’ve been doing it. Based on data from PayScale, the average real estate agent makes between $30,000 and $45,000 per year. The amount of money you make will vary depending on your experience level, how much you sell, where you live, and more. To learn more about what it takes to become a real estate agent and how much you can expect to make as one, read on!
How Much Do Real Estate Agents Earn
Real estate agents’ salaries depend on many factors, such as where they work and how long they’ve been in business. Generally speaking, agents who own and run their own businesses earn more than those who work for others. Real estate agents can also gain income from commissions on properties they sell, but these vary widely by property type and location. According to an annual report compiled by NAR (National Association of Realtors), median commissions earned nationwide were $42,910 in 2017.
Salary Ranges by Experience Level
The median annual salary for real estate sales agents was $43,200 in May 2015. The lowest 10 percent earned less than $28,480, and the top 10 percent earned more than $76,880. Real estate sales agents typically work full time. Many work evenings and weekends to show properties to prospective buyers or to meet with other agents on business matters. Their schedules vary depending on whether they work as independent contractors or on-staff employees for a brokerage company.
Salary Ranges by Specialty Area
Although general salaries can help you to get an idea for what’s possible with a real estate career, it’s also helpful to know exactly what kinds of paychecks are attached to specific specialties. There are many different roles in residential and commercial real estate, which means there are different types of salaries as well. Here’s an overview of some key real estate roles and their corresponding salaries.