How Much Does A Real Estate Broker Make?
Do you think you are a business minded person? Do you enjoy engaging in conversations about prices, profits and the economy in general? And do you want to be in an industry that revolves around buying and selling? If you answered yes to all three questions, then you might want to become a real estate broker.
How much does a real estate broker make?
If you have enough experience, formal training and a strong client base, your real estate career could become rewarding. As long as you put in a lot of effort in sealing deals with numerous clients, you can expect your account to slowly fill up. You are now probably wondering how much you can earn as a real estate broker.
- In the 2010 records, the Bureau of Labor Statistics show that real estate brokers earned anywhere between $34,000 and $58,000 a year. And in 2009, BLS showed that the number of real estate brokers increased by 11%. The job is generally stressful since you will have to work long hours, during the holidays. You also have to make sure that your schedule is flexible enough to make time for future and returning clients.
- Real estate brokers who have worked in the industry for at least 4 or 5 years earn an average of $41,000 a year including commissions.
- The highest recorded salary for a US-based real estate broker in a highly metropolitan area was $102,000 annually. While the lowest was at $21,000 a year for entry-level brokers. Income level greatly varies depending on how long you have been in the industry, popularity level, economic situations and the extent of your client base.
- According to BLS, the highest paying states for real estate brokers are New York, Pennsylvania, New Jersey, Massachusetts and Maryland with income levels ranging from $102,350 to $131,410 annually. The states with the highest employment rate for real estate professionals are Florida, North Carolina, California, New York and Texas.
The commissions and salary are not all that determine how much a real estate broker makes. Most brokers build a personal portfolio of investment properties.
Related posts:
- What Does A Real Estate Broker Do?
- What Are The Requirements To Be A Real Estate Broker?
- How To Become A Real Estate Broker
- How Long Does It Take To Be A Real Estate Broker?
