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How much money does a real estate agent earn? |
Answer
The median annual earnings of salaried real estate agents in the U.S., according to the Department of Labor was $30,930 in 2002. This is including commissions. Median annual earnings of salaried real estate brokers, including commission, was $50,330 in 2002.
Commissions on sales are the main source of earnings of real estate agents and brokers. The rate of commission varies according to whatever the agent and broker agree on, the type of property, and its value. The percentage paid on the sale of farm and commercial properties or unimproved land usually is higher than the percentage paid for selling a home.
Answer
There's a huge variation in income among Real Estate agents, because earnings are based entirely on how much you sell. Some agents who advertise heavily earn well above $100,000 year after year, while some full-time agents earn as little as $12,500 per year.Real Estate remains an excellent field for women, who earn an average of 96% of their male counterpart's salary, compared to 78% for all industries.
According to a 2005 survey by the National Association of Realtors, sales associates average $38,300 per year. This figure is down from 2002, largely due to the high number of new members.
Experience pays in the real estate field, with sales associates who've been in the business between 6 and 10 years averaging $57,100 and those with over 26 years experience averaging $83,400.
Brokers, who've normally been in the business longer and own thier own firms, saw larger gains - a median of $86,000 while brokers who also sell earned $82,200.
Broker associates (who have a Broker's license but don't own the firm) earned an average of $67,900.
Bear in mind that NAR members probably represent a slightly more qualified group than real estate agents in general, and therefore may earn a bit more
First answer by ID1058248665. Last edit by Miamidolfan3524. Contributor trust: 37 [recommend contributor]. Question popularity: 127 [recommend question]
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