How much money can I make as a real estate agent?
One of the best benefits of working as a real estate agent is that you have unlimited earning potential.
The more transactions you close, the more money you will make in commissions.
According to the Bureau of Labor Statistics, the average real estate agent earns $50,730 each year, while the top 10% of real estate agents make over $110,000 per year.
However, these statistics include both part-time and full-time agents.
The National Association of Realtors reported that on average, real estate agents close 12 transactions per year. If the average commission earned on a transaction is $5,000, the average real estate agent earns around $60,000 per year.
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Related FAQs
A REALTOR is a licensed real estate salesperson who also belongs to the National Association of REALTORS. Many people believe that a REALTOR is another word for a real estate agent. However, this is not the case. If a real estate salesperson does not belong to the NAR, they cannot call themselves a REALTOR.
Read More As a real estate agent, you make money in the form of a commission once a sale or rental deal closes. The commission usually equals a percentage of the purchase price, such as 5% or 6%. The total commission will get divided between the seller's and buyer's broker, who in turn, share the commission with the salesperson.
Read More A sponsoring broker is a real estate broker that employs a real estate salesperson. State law requires all real estate salespersons to work under a sponsoring broker. The sponsoring broker will actually hold the license of the real estate salesperson.
Read More Here are the steps you should take to find a sponsoring broker: 1) Google brokers in your area. 2) Reach out to 10 brokers. 3) Schedule interviews with 4 or 5 of the brokers. 4) During the interview, ask them about commission splits and training. 5) Select the broker that best fits your career goals.
Read More A real estate salesperson must work under a real estate broker. A real estate salesperson operates as a sub-agent to their sponsoring broker and can perform all of the duties of a broker. Once you get enough experience as a salesperson, you can qualify to take the broker's exam and get your broker's license.
Read More Yes, you can use your real estate license whenever you wish, including part-time. In fact, many real estate licensees choose not to work full-time. As an independent contractor, your sponsoring broker cannot tell you how many hours you have to work.
Read More Always choose an accredited school when you are looking to get a real estate license. Real Estate U is fully accredited. Learn more here!
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Read More RealEstateU offers the fastest and most affordable way to get your real estate license. RealEstateU produces all of its own content, while most other online schools simply license their content from third parties. RealEstateU also offers excellent customer support and is available 24/7 to answer any of your questions.
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Read More To date, over 100,000 students have started their real estate career with RealEstateU. You can click here to learn more about RealEstateU: https://www.realestateu.com/about-us-real-estate-school/
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