People also ask
Do real estate agents get paid a salary?
In most cases, agents aren paid a salary. Most real estate agents only make money when they help a client buy or sell a home. This money comes in the form of a commission, or a small percentage of the home total sale price. Agents typically make around 1.5% of the home sale price after closing.
How much does a real estate broker make?
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 does a real estate agent take home?
In reality, agents take home a lot less at the end of each sale ?typically 1.5%. So, for a $250,000 home, an agent takes home approximately $3,750. Since home sales generally involve two agents ?one representing the buyer and one representing the seller ?the seller agent charges the full commission and then splits it with the buyer agent.
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).