Average Starting Salary Of A Real Estate Agent
Introduction
Real estate agents are professionals who help clients buy, sell, and rent properties. They work on behalf of the clients to negotiate deals, provide advice, and guide them through the buying or selling process. If you're considering a career in real estate, it's important to know the average starting salary of a real estate agent.
Factors That Affect Starting Salary
Several factors can affect the starting salary of a real estate agent. These include:
- Location - Real estate agents in high-cost cities may earn more than those in smaller towns.
- Experience - Experienced agents may start with a higher salary than those who are just starting out.
- Brokerage - The brokerage you work for can also affect your starting salary.
- Commission - Real estate agents earn a commission on each sale, which can vary depending on the property's value.
Average Starting Salary
According to the Bureau of Labor Statistics, the median annual salary for real estate agents in 2020 was $51,220. However, the starting salary for a real estate agent can vary widely depending on the factors mentioned above. In general, you can expect to earn between $30,000 and $50,000 in your first year as a real estate agent.
How To Increase Your Starting Salary
If you want to increase your starting salary as a real estate agent, there are several things you can do:
- Get a degree - A degree in business, marketing, or real estate can make you more marketable to potential employers.
- Get licensed - You must be licensed to practice as a real estate agent. The more licenses you have, the more valuable you are to potential employers.
- Get certified - Certification from a professional organization, such as the National Association of Realtors, can increase your credibility and earning potential.
- Join a top brokerage - Working for a top brokerage can provide you with access to better clients and higher commission rates.
Conclusion
Real estate can be a rewarding career, but it's important to know what to expect when it comes to salary. The average starting salary for a real estate agent is between $30,000 and $50,000, but this can vary depending on several factors. By taking steps to increase your education, licensing, and certification, you can increase your earning potential as a real estate agent.