Real estate agents’ earnings range quite a bit,from a modest$25,000 or less to more than $1 million annually. Agents’ salaries are usually based on commission攁 percentage of the sales price that they split with their brokerage.
People also ask
How much do real estate agents get paid?
Real estate agents receive income through commissions paid directly to brokers upon successful completion of home sales. The typical commission is 5% to 6% of the home’s listing price, though this number can sometimes vary from 1% to 10% depending on the specific agreement. How do real estate agents earn money?
How much Commission do real estate brokers make?
Many brokers split 50/50 with their agents, so if the commission from the sale was 3%, the broker would be paid 1.5%. Nationally, real estate brokers earn an average of $81,450 per year (U.S. Bureau of Labor Statistics), but their compensation structure isn the same as real estate agents. Unlike agents, brokers are often paid a salary.
How much do real estate agents make in Seattle?
Multiply the average sale price in your area by your expected commission rate to see how much you檒l make per house, on average. In Seattle, the median home price is $726,500 (according to Zillow data from May 2019) ?so at a standard 3% commission rate, an agent will make $21,795 per sale ($726,500 per home x 0.03 commission).
How long does it take to make money as a realtor?
Once you connect with a top real estate company, the writers at REALTYNA claim that it takes an average of six months to start making money. You will make all of your initial money from commissions.