The number of realtor job opportunities has risen in recent years. The job of a realtor has become more and more attractive, and there are different reasons for it. Firstly, some people love the excitement of the job and its challenges. Next, working with different people all the time can be interesting as well. Another reason why the job of a realtor is so attractive is the freedom. You can be your own boss and act as you like. Last, but not least, there’s the factor of salary. The numbers everyone wants to know are not that easy to find out. The reason for that is that not every realtor earns the same. It depends on their experience, education and the houses they sell. However, let’s try to find out some of the basic info on how much money you can actually make as a realtor.
How much money you can actually make as a realtor – the average
According to the Bureau of Labor Statistics, there’s the average salary of realtors. It’s around $46,000, which, you must admit, is not that bad. However, don’t be tricked by this number. The salaries vary a lot. They can go up to $78,850! And you’ll soon see why.
Why don’t all realtors earn the same amount of money?
The actual information of how much money you can actually make as a realtor is not easy to find out. The reason is that the realtor’s salary depends on many factors. First of all, realtors who are new in the business generally sell fewer houses and therefore have lower salaries. Once they build their client base and gain more experience, the commissions get higher, too. The thing you can do to boost your salary is to become a certified real estate agent by completing the training. Next, more experienced realtors, especially those with more than 20 years of experience, earn much more, up to $78,850 per year. Other factors that affect a realtor’s salary are the industry and location. For example, the states with the highest annual realtor wage are:
- New York
- Rhode Island
Everything about commission
As you may know, most of the real estate agents work on commission. When homes are sold/bought, that’s the time realtors make money. Generally speaking, the average commission rate is 6-7%. However, this rate can be changed if the client and the agent negotiate. Another thing you should know is that the commission percentage is split by the buying and selling agent – they get 3% each. Nevertheless, if both agents are actually the same person – he or she gets 3% twice.
The first commission is important
If you want to become a realtor, you should remember that it’s important to reach the first commission quickly. The reason for that is that before you earn some money, you can have a lot of costs related to advertising, training courses, putting up signs, etc. The longer you stay without a commission, the longer you will have to pay the mentioned costs with your own money. Do everything you can to make that process faster – tell everyone you know that you are an agent, use social media advertising, and you’ll see that referrals help you earn more clients and gain more experience. Also, be sure to consider 2019 Real Estate Market forecast – following the trends can surely help a lot.
How often realtors can sell a home?
If you calculate their earnings according to the median house price – you may wonder how much money you can actually make as a realtor. Well, you should know how many houses realtors actually sell per year. The truth is – experienced realtors (10 years of experience and more) sell around 12 houses per year. However, if you are new in business, this number will probably be lower.
Selling a home?
You are not a realtor yet, but you need to sell your own home? Well, there are some things to consider before putting your house on sale. Be sure to:
- find the right real estate agent – don’t think only about the price, there are some other reminders in finding listing agents to consider.
- be realistic about the price
- advertise your home with attractive photos
- depersonalize your home – remove all the personal items to let the potential buyer imagine themselves living there.
- improve your house’s curb appeal
After you sell a home – you need to move
Moving is the next step after selling your home and finding a new one. It is not only about packing things in boxes – relocation is a tricky process. That’s why you should stay organized and have a moving plan, as well as the moving budget. Also, you should play the safe card and hire a professional and reliable moving company like movingkings.com to help you out. This way you’ll know that your items are in good hands and that you will avoid damage and additional costs.
Moving can be overwhelming
There’s a lot to do when it comes to moving a house or an office. First of all – there’s a lot of packing. If your home or office includes a lot of electronics, antiques, small and tricky items, be sure to get some help. You can always ask the people you know (friends or family) to help you out with some basic things. Furthermore, you can always hire local moving assistance and have a completely stress-free move. They can take care of everything, from local to long-distance moves, to storage and packing services. Just don’t do everything by yourself if it overwhelms you – it’s much better to get help than be too tired, lose or damage some of the items.
Being a real estate agent includes a lot of exciting aspects of the housing business. It’s a dynamic career that requires devotion, resourcefulness and a lot of work. And considering how much money you can actually make as a realtor – it’s a great business. If you feel this is a job for you – go for it! It’s never too late to start!