Do real estate agents make money? That may be true for some, but it’s important to remember that in most cases, the average real estate agent does not. As a matter of fact, only about one in 10 agents is involved in the top 10% of earners.
What is the average income of a real estate agent in Australia? If you are thinking of becoming a real estate agent, you may be wondering what the average income of a real estate agent is. Here are the average annual incomes for different license levels:
Here is an example of what a typical salesperson could expect to earn:
Average gross income: $70,000 to $90,000
The highest earners in the real estate industry have a gross income of $240,717 for salespeople or $300,000+ for licensees.
When it comes to do real estate agents make money really? You’ll find every possible answer by doing a bit of research. And because there are so many different answers out there, it’s important to know the difference between your gross and net income.
An agent’s gross earnings are the total commissions generated from a sale – before the agent has paid any expenses. Expenses include fees paid to the broker owner, any marketing costs that they might have spent in order to generate leads, and other variable costs of doing business such as office supplies and equipment that might be used on a daily basis.
How long does it take to gain traction as a real estate agent? If you want to become a real estate agent, you must know that it takes time. If your goal is to be making money as a real estate agent, you have to have patience and a long-term plan in place. The following are some things that you must do:
1 – Learn the real estate industry. This is the most important step in becoming successful; it will help you avoid common mistakes and pitfalls and give you the ability to identify good opportunities when they arise.
2 – Develop strong sales skills. Most buyers want to deal with agents who like talking with them, who offer solutions to their problems, who get them what they want, and who are willing to take their business seriously.
3 – Create a strong relationship with clients. To be a successful broker, you must develop a relationship with each client, listen to their problems and build trust by being honest and upfront.
4 – Create a positive, professional image. You will have many opportunities to make personal and professional decisions that will influence your image as a broker. Be prepared when you are approached for an interview; do not let an agent who is not qualified take from you your ability to choose who you want to work with.
5 – Take advantage of all your business opportunities.
Real estate agents do certainly make money. Some of the agents at Limnios Property Group average in the hundreds of thousands of dollars per year. But when you look beyond the top earners, there is a lot of variation between what agents earn.
Just how much money do real estate agents make? Sales people make a wide range of salaries and agent commissions. In many cases they are in the lower end of the pay scale. When you learn more about real estate agents and their salaries, it’s important to be aware that gross income includes all sales commission for selling property such as selling a property to an unrepresented buyer or an unpaid seller. This does not include expenses such as marketing fees, advertising costs and office supplies.
If you’re interested in pursuing a real estate career contact Limnios Property Group at www.limnios.com .
