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FutureStarrHow Much Does a Real Estate Agent Makeor
Christina Shields, the real estate agent, has been selling residential, commercial, and investment properties for 17 years. “As an agent, your pay starts off with a base salary, which can range anywhere from 10,000 to $75,000 a year,” she says.
At some point in their lives, most people will have enlisted the help of a real estate agent to buy or sell their home. Because of the many steps to complete a real estate transaction, licensed agents are valued members in the field. In this article, we discuss how much money real estate agents make and how they earn it, plus provide tips for pursuing a career as a real estate agent.
It takes a lot of time and dedication to build up a business, and working to expand an agent's clientele is no different. Agents with decades of experience have gained valuable insight into the real estate market, as well as years of knowledge leading to successful habits. With every sale, you’ll learn which techniques work best and how to handle different situations. (Source: www.indeed.com)
Because real estate agents cannot work independently and must work under a brokerage firm, all transactions and commissions get paid directly to the broker who splits the commission with all agents involved in the sale. A typical split in commission will pay the agent 60% while the broker receives 40%. Of course, other agreements may include ratios of 50/50, 70/30 and so on. Some brokerage firms may impose a marketing fee, as well. (Source:
Agents working in large metropolitan areas like New York City and Los Angeles have the opportunity to make more than those who work in smaller or more rural locations. For instance, if a real estate agent lists a home in an expensive neighborhood where the average listing price is $500,000 as opposed to $200,000, the agent can plan on making a higher commission off that sale. Of course, a higher cost of living often comes with living in bustling areas. (Source: www.indeed.com)