“How much does the typical real estate agent make?” you might question if you’re thinking about changing jobs to real estate. Planning ahead of time to figure out how much you’ll make before starting a new job can help you figure out how much to save and how to manage your budget during the shift. We polled real estate agents around the country to find out how much money they make each year and what variables influence it.
Income increases with longer hours
What is the typical income of a real estate agent? One approach to determine this is to look at the earnings of agents who work an average number of hours. Longer hours in real estate generally equate to better compensation. According to our poll, agents who work 40 to 50 hours a week can expect to earn around $113,054. Agents who work 51 to 59 hours per week may expect to make $143,469 per year. It’s crucial to remember that these figures are simply estimates, and various things can affect them.
Experienced agents earn top dollar
In the real estate industry, greater experience usually equates to higher earnings. In the midst of their career, a realtor may make between $149,000 and $164,000 dollars. This figure is, once again, influenced by various factors that affect the typical real estate agent’s profits.
Niche can play a huge role in determining income
The typical real estate agent’s salary varies depending on the speciality. Residential real estate agents may make less money than commercial real estate agents. In general, real estate wages hover around $130,000, with certain specialties, such as property management or cheap housing, having significantly lower earnings and others, such as luxury residences or green properties, having significantly greater earnings.
How can a real estate agent rise above the average income?
Your wages don’t have to be determined by what’s “average” in your field, your degree of expertise, or the period of time you devote to it. There are always methods to overcome the odds and make more than the typical wage. We’ve discovered that agents that make more are better at managing their marketing budgets, generating quality leads, securing real estate listings, and staying current on industry best practices.
What Do They Do?
What exactly do real estate brokers do during the day? You must first eliminate the word “typical” from your vocabulary before you can comprehend the varied roles that real estate brokers perform on a daily basis. In real estate, there is no such thing as a regular day. Every day brings challenges, new tasks, and new people, whether you’re showing property and have to quickly duck away to move a kitty litter box out of sight, negotiating contracts with international buyers via Skype, or assisting first-time buyers learn more about ways to improve their FICO scores.
However, there are certain rather common activities that make up a real estate agent’s daily agenda.
We’ve arranged these common everyday tasks by the jobs that go along with them to assist answer the question, “What do real estate salespeople do all day?”
Simply put, they take on a variety of jobs on a daily basis. While operating as an all-in-one sole owner, marketer, knowledgeable agent, buyer’s rep, seller’s rep, and lead producer, an agent must learn to balance numerous jobs. It might be difficult to fit all of these real estate agent responsibilities into a single day—or even a week. When it comes down to it, a real estate agent’s day is all about organization, priority, and a long list of tasks to do.
Agents must also replenish their pipeline with up-and-coming sellers and buyers in order to be successful.
Several of the marketing chores stated previously are included, as well as a plethora of lead generating tasks. Building a web presence, controlling lead response and follow-up, keeping a CRM system, marketing planning and budgeting, and making a concerted effort to have your name out there are just a few examples.
Are you interested in the realtor life? Let us know in the comments…