According to the Bureau of Labor Statistics, the average real estate agent earns $45,990 each year, but the range in income is massive.
One-tenth of real estate agents earned less than $23,000, and 10% earned more than $110,000.
How much do top real estate agents make?
The median income for real estate sales agents was just under $46,000 in 2017, according to the Bureau of Labor Statistics. The top 10% earned more than $109,490, while the bottom 10% made less than $23,130.
Do Realtors make a salary?
The U.S. Department of Labor cites the average real estate agent salary around $61,720, as of May 2018. Some real estate agents make a lot less, and some make a lot more. Typically, as a new real estate agent, you will be working under the guidance of a broker manager with whom you will have to split your commission.
How long does it take to start making money as a real estate agent?
It takes them a year or longer to start making consistent money and some give up before they make it. It is hard to say it will take three months or six months before a new agent will make enough money to support themselves because everyone is different.
Is being a realtor worth it?
Being a realtor is great if you like houses and enjoy working with people, but it’s not always the dream job some imagine it to be. Selling real estate is more work that you might imagine and, although there are some very successful real estate agents, there are many who struggle just to make ends meet.
Why do most real estate agents fail?
Most real estate agents fail in their first year, in large part because they simply don’t believe that they can succeed. This lack of belief, and the high attrition rate that they see that reinforces it, leads them to stop doing the things they need to do to be successful.
How do you become a millionaire in real estate?
My Advice to Millennials: 4 Steps to Becoming a Real Estate Millionaire
- Get off the debt merry-go-round.
- Save 15–20% of every paycheck, and pay yourself first.
- Save at least $5,000–$10,000, and then stop renting (or living with your parents), and buy your first house.
- Repeat Step 3.