The American school of real estate agents is the oldest in the world. In its present form, it has existed for more than 100 years, ever since honest American real estate agents united and created their own ethical code. But does this law book help to make a lot of money? Let’s find out how prestigious this job is and what an average real estate agent’s salary is!
Does a Specialty Impact the Real Estate Agent Salary?
The land agent job is all about knowing how to do everything. One person has to combine the skills of a sales manager, a lawyer, an economist, and a psychologist. All of these qualities are necessary for the successful completion of transactions. The most important thing for a realtor is his or her versatility and ability to adapt. In addition, realtors fall into categories that can affect an average real estate agent’s salary.
Agents who work with owners
They set the price, photograph the property, put it in the database, do showings, and promote the future home. These agents need to spend their own money to promote the property. Thus, agents often work on an exclusive contract and can organize their work to spend a minimum of time on the deal. As a result, it takes much less time per sale.
Agents who work with buyers
They help find a dream house and lead a person through the entire deal. Most of these agents’ clients are first-time buyers, so realtors have to help newcomers every step of the way. They go to showings with clients, answer all questions, tell them how the laws work, and explain how to avoid problems. Such real estate agents cannot conclude an exclusive contract, as nobody guarantees that a client will not leave the day before the deal.
Real Estate Agent Salary Between States
As a rule, the income depends on the commission fee, the value of the property, and how many houses or apartments the realtor manages to sell per month or year. The average real estate agent salary is about $4,800 after taxes in the USA. The dynamics by region is shown in the following table:
| State | Salary per month | Salary per year |
| Real estate agent salary, New York | $ 5,327 | $ 63,924 |
| Real estate agent salary, California | $ 5,055 | $ 60,660 |
| Real estate agent salary, Florida | $ 4,270 | $ 51,240 |
| Real estate agent salary, Ohio | $ 4,526 | $54,312 |
| Real estate agent salary, Texas | $ 4,681 | $56,172 |
| Real estate agent salary, Chicago | $ 5,404 | $64,848 |
| Real estate agent salary, Georgia | $ 4,478 | $53,736 |
How to Get Real Estate Agent Salary?
The average real estate agent salary consists of commission. An American house may cost $120,000. The commission is 4-6%, paid by the owner. The fee is split in half between the seller’s agent and the buyer’s agent. If realtors sold a house for $ 120,000 and took 6%, the commission fee will be $7,200. Each will earn $3,600. The broker will take a certain amount of money. For example, a newcomer pays 50%, but an experienced agent is charged only 10-20%.
Who Can Become a Real Estate Agent?
A high school graduate who is 18 years old, from a law-abiding family, with no arrests or convictions can become a realtor and claim on an average real estate agent salary. Applicants must live in the U.S. legally, have an insurance number, and be fingerprinted. In some states, only U.S. citizens are licensed.
The U.S. Department of Real Estate checks the candidate’s background to allow the person to work. One check costs about $ 100 and takes 30 days. If a candidate has violated the law in the past or lied when submitting a form, he or she will be declined since the Department does not like liars and criminals.
American real estate sales assistants are subject to licensing. An agent cannot work without documents – it is fraught with fines and charges of fraud. This system helps protect buyers and owners from the incompetence of fresh agents. To get a license, an agent must take a realtor’s course, pass a state exam, and have an approval process in the real estate department. Usually, it takes 1.5-2 months to get a license.
The course price depends on the state and the form of training. Typically, the cost ranges from $ 400-500 for in-person and $200-300 for the online format. However, the real estate agent salary will pay off all the costs in the future. The course length depends on the region and varies from 45 academic hours in California to 180 in Texas. A particular state’s license is valid only within that state. If a person has decided to move from Virginia to Florida and continue to work with real estate, they will have to take another course and pass the exam to know the new rules of the job.
FAQ: Real Estate Agent Salary
📍How to become a real estate agent?
In America, a realtor cannot work without a license. To obtain it, a would-be agent must complete a special course, pass two exams, and go through the process of approval by the department. Training lasts from 45 to 180 academic hours, depending on the state and form. The license must be renewed every 2 years.
📍 How much does a real estate agent make?
The real estate agent salary greatly depends on the agent’s activity as they work for a commission. As a rule, the commission is 4-6%, and the owner pays. Generally, the salary depends on the state, and above, you can find a table with more realistic salary figures.
📍What does a real estate agent do?
A real estate agent’s job is very varied. They search for clients and real estate objects, show objects to possible buyers, prepare the required documentation, give consultations about contracts within their competence, and advertise the property for sale or rent.
