Whenever we look for a job, one of the most frequent questions is related to salary. If real estate is your thing, you may be wondering how much a realtor earns in the United States.
This is a profession that can be synonymous with good income. In this article, we are going to tell you how much a real estate agent earns in the USA.
How much does a Realtor earn in the USA?
The salary of a realtor will depend on the number of houses sold, as well as the location. Obviously, a realtor who sells more houses in California is going to earn more than a realtor who sells the same number of houses in Florida (because houses in California are more expensive).
However, if we consider an average, we could say that the Average salary is around $95,922 annually. However, salaries can be over $112,000 annually for the top 10% of real estate agents.
How commissions are paid
You already have an idea of how much a realtor earns in the United States, but how are commissions paid?
Usually, the person selling the property is responsible for paying the commission to the agent. This is usually between 3% and 6% of the property price.
For example, let’s say you want to know how much a realtor in the United States earns for selling a $575,000 house and if you agree to a 5% commission with the seller.
In this case, your commission corresponds to 5% of that $575,000. That is, you would be taking home $28,750 before taxes minus what you will pay to the franchise if you are working for one.
How much does a realtor earn in New York?
The average salary of a real estate agent in New York is $60,000, with a salary range that goes from $57,811 to $112,600.
How much does a realtor earn in California?
The average salary of a real state in California is $73,244, with a salary range that goes from $49,019 to $135,000.
How much does a realtor earn in Florida?
The average salary of a real state in Florida is $62,566, with a salary range that goes from $44,749 to $127,000.
How can I be a realtor in the USA?
Now that you know how much a realtor makes for selling a house, let’s look at the requirements. To work as a real estate agent, you only need to acquire a license to operate.
Although it is not necessary to have a professional degree, you should keep the following points in mind:
Research state requirements
In the United States, there is no single license that is valid nationwide. Each state has its laws and rules you must follow to obtain your license.
Therefore, it is advisable to contact the General Administration of Real Estate Services of the United States to know in detail the requirements in the state in which you want to apply.
Some of the requirements, to give you an idea, are:
- Education level.
- Judicial record notification.
- Criminal record history and fingerprinting.
- Age.
- Testing and being eligible to take it.
- Continuous training.
Take a training
As you may know, to obtain your license you must pass an exam. For this, it is best to contact an accredited school to obtain the necessary preparation and pass the exam on your first attempt.
Take the exam
The price of the exam usually varies depending on the state where it will be taken. The highest price is usually around $300. This exam is usually divided into two parts:
- The first deals with the most common principles and practices in the real estate business.
- The second deals with the legislation that governs the state where you want to operate as a realtor.
Choose a real estate franchise
This is a good way to catapult your growth. It will be difficult to sell houses if no one knows you. However, if you join a franchise that is recognized, it will obviously be easier to make sales.
Once you are successful within a franchise and many people know you then, if you wish, you can think about becoming independent. However, perhaps it is best to initially go to a franchise and start from there.
What does a realtor do in the USA?
Now that you know how much a realtor earns in the United States, let’s see what some of their activities are:
- Plan and coordinate appointments with clients and other real estate agents.
- Stay up to date with real estate market trends.
- Examine lists of clients who have purchased, rented, or are awaiting service.
- Serve clients through calls, email, or other means of communication.
- Carry out marketing strategies through promotions to attract new potential customers.
Frequently asked questions
1. WHICH STATE PAYS THE MOST TO BE A REALTOR?
Considering that California is the state with the most expensive houses in the United States and that a realtor’s salary is determined by their commission on those houses, it could be said that you can earn more in California.
However, keep in mind that competition is also greater and, on the other hand, the cost of living in California is much higher than the national average. These are things that you must evaluate in detail when making a decision.
Conclusion
In this article, we answered the question about how much a realtor earns in the United States, as well as what it takes to become one, and other interesting details.
On the other hand, if you have any questions, remember that at Superdinero we offer you free financial information and professional assistance in the area of loans, credit history, credit cards, and debt management.
