Real Estate Agent Income
As noted in Real Estate Careers, many people are drawn to real estate careers because there is an unlimited earning potential. Note the word potential. There are excellent agents out there who make millions in the real estate industry, but they are the exceptions, rather than the norm. The general trend is for beginning real estate agents to make a low income for the first two years and having it grow as his/her experience and list of loyal clients develop.
The following statistics are provided by the U.S. Department of Labor Bureau of Labor Statistics:
- The median earnings for real estate sales representatives is $40,030
- The bottom 10 percent of representatives earned $20,460
- The top 10 percent of earners made an average of $95,220
"But house prices and commissions are high," you argue.
If possible, start your real estate career with at least six months savings to get through the initial slow period.