Becoming a real estate agent is one way you can earn a six-figure income, even if you don’t have a college degree.
However, many people earn less than six figures, and most even quit their work as a real estate agent before they earn their first commission.
What’s the most a real estate agent can make?
Overall, real estate brokers and sales agents earned a median income of $50,300 a year in 2018, according to the U.S. Bureau of Labor Statistics (BLS). “Median” means that half earned more than this, and half earned less. Top real estate agents make a lot more, and agents who sell one home every few months earn less.
What is a typical real estate commission?
The typical commission is 6 percent, which is split by the agent for the buyer and the agent for a seller—3 percent each. But it’s only paid by the home seller. If you’re selling your home and buying another with the same agent, they’ll collect that 3 percent twice.
How do Realtors get paid?
Realtors get paid on a commission basis, usually 5 to 6 percent of a home’s sales price, which is split between the listing broker and buyer’s agent. Fees typically come out of the sellers’ proceeds while buyers generally pay nothing to the agent who represents them.
How do Realtors get clients?
Top 25 Expert Tips on How to Get Clients in Real Estate
- Write Strong Web Content.
- Build Your Online Presence.
- Use Webinars to Generate Leads.
- Use an IDX Feed on Your Website.
- Promote Your Properties Using High-quality Photos.
- Work Open Houses.
- Volunteer in Local Communities.
- Inform Your Friends & Family That You’re in the Real Estate Industry.