According to a recent research from Bureau of Labor Statistics (BLS), almost 200,000 real estate agents are working in the United States. New real estate agent income vary according to the broker/firm they work for. It is necessary to acquire a license to work as a real estate agent. The business of real estate can be divided into two categories, commercial real estate and residential real estate. Based on your interest, you can join anyone of them.
Average Income For A New Real Estate Agent In USA:
The average salary for a new real estate agent in U.S.A was estimated to be $33,000.00 according to a research done in 2014. The major earning factor for real estate business is the commission. Usually, it is from 3-4% of the actual price of the property. But it is also to be noted that the commercial real estate agents have higher chances of making more money since they deal with the sales of offices, commercial properties, and their prices are usually higher than the residential ones.
Average salaries in different regions:
Average salaries for new real estate agents are different in different regions. In Southern Region, it is normally higher than northern region.
The income ranged from as low as $26,000.00 to $53,000.00 at max. In northern region, they varied from $30,000.00 to $40,000.00.
In Western Region, they were recorded from $27,000.00-$38,000.00 while in the Midwest, they were observed to be varying from $26,000.00-$35,000.00 respectively. These stats were taken from Simply-Hired.
However, it is difficult to determine the exact amount of what the new real estate agents make in their first year. Depending on the work ethic and dedication, new real estate agent income vary from person to person. According to some of the most successful REALTORS, they have seen some newbie’s making $10,000.00-$15,000.00 a year while others make over $100,000.00. It just further proves the point that there is not a fixed stat to determine new real estate agent income. The most important point for a real estate agent is to have following things
- A proper plan
- Set goals on daily basis,
- Take risks
- Push themselves to their limits.
What do you need in order to become a real estate agent?
The minimum requirement to become a real estate agent is having a high school diploma. It is also necessary for them to take some real estate courses in order to pass the exam and get the license. It is important to know that you cannot directly appear in the exam for the license. You ought to have at least a year’s experience in order to qualify for the exam. Having problem-solving attributes and computer skill is always a plus point.
The bottom line is that always have faith in yourself. Do not get nervous if you don’t know what you are doing. If you do not explore the new techniques, you will never know what is the main ingredient that you require in order to become a successful real estate agent.