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Just curious about reasonable income expectations. Not for the first couple of years but once you get on your feet. Obviously there are lots of factors, different areas, etc. But I'm curious how common it is to make over $50k. $100k. $200k. More? Whatever info you feel comfortable disclosing, even if it's your "friend's" income range or just a reasonable expectation of income.
Well there is a huge difference between gross commission income and net income...I think all that matters is the net income. Some agents can make $150,000 in commissions but due to splits really only net $75,000 (pre-taxes). Another agent could make $100,000 in commissions and make $80,000.
So it depends on what perspective you are looking at it from. The net or gross?
Well there is a huge difference between gross commission income and net income...I think all that matters is the net income. Some agents can make $150,000 in commissions but due to splits really only net $75,000 (pre-taxes). Another agent could make $100,000 in commissions and make $80,000.
So it depends on what perspective you are looking at it from. The net or gross?
Fewer than one percent of the Realtors in my area net over 100K a year, and there are about four thousand Realtors in my MLS area. There are obviously many "hard working" agents that net much less than 100K per year. The general public has somewhat of a skewed and inaccurate opinion of what Realtors make.
NAR has published stats on Realtor.org --> Field Guide to REALTOR® Income (http://www.realtor.org/library/library/fg103 - broken link). For 2008, the overall average was $42,600.
I would bet that maybe 5% of agents net 6 figures or so, in my area. I bet maybe 1%, if that, get over $200k.
As for hard working...not all highly paid agents are really good agents. They are just great at listing presentations. Then when sellers are stuck in that 6 month contract (which you love to go off on) they are forced to drop their prices in order to sell.
It's kind of an odd dynamic here but I would bet that the agents that make (net) between 50-100k are some of the best. It's enough business to be a good living for my area, but the volume isn't so excessive as to prohibit good customer service.
And it all depends on where you work. What are the demographics of your area? I live in the burbs of Western New York - you can't compare me to California because the average home is probably 200-300k higher than where I am. Here you can get a 2500 sq ft home, in a great school system for 200k - in a lot of the country that would cost you over 500-600k. The homes I sell for say, 250k would go in nyc for a million in the burbs, if not more, 2500 sq feet, 4 bedrooms 2 1/2 baths etc,,,, now I dont sell many of those - my homes typically sell for between 100-200k
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