According to the latest NAR & CREA stats, realtor agent income varies greatly based on the number of years one has been in the real estate. Yes, it takes time to build the clientele, and you have to gain more experience, exposure and following. But here we are about to discuss the alternative ways of elevating your income right from the start of your real estate career.
The numbers presented below are based on averages and may not exactly reflect income scale in your area but we use them to make a fair comparison and provide with some insight on how to raise the bar of average realtor income in today’s economy.
Realtor Income Range:
First year in business – $30,500 – $49,100
One to four years in business – $30,700 – $59,600
Five to nine years in business – $36,200 – $92,300
Ten to nineteen years in business – $38,600 – $89,800
Twenty years or more – $40,700 – $110,000
These numbers clearly show that even in today’s economy one can make a decent living selling real estate. What is interesting however, that these numbers are based on averages, meaning that most of the data was generated from the traditional brokerage houses where commission splits dominate the compensation guidelines. As agent becomes more experienced and produces more sales his/her commission split scale leans towards more favorable arrangement for the agent.
Why not to start getting paid as a real estate mogul from the very first year of your career in real estate? With Envelope Real Estate Brokerage that is exactly what you will get from the very first day of your real estate employment.
How much of total commissions on average a new real estate agent gets? It’s between 60-80% .With Envelope Real Estate Brokerage we are going to teach and show you how to double the income number in the first year in business and we are looking at a much more appealing income range of $61,000 – $119,200 instead of $30,500 – $49,100. Now, that looks pretty darn good for the first year in real estate career, but is it realistic in today’s economy? The answer depends on the market conditions, no doubt about it, but most of it depends on your ability to learn the business , your work habits and your commission structure.
Let’s make a conservative adjustment given the lack of experience, and market conditions and give it a 25% adjustment. We are looking at the income range $45,750 – $89,400. That makes a huge difference from what an agent can expect from a traditional brokerage house.
Increasing Your Income from the Start
Why not start or rejuvenate your real estate career on a high note and keep it that way for as long as you work?With Envelope Real Estate Brokerage Inc. is exactly what you should expect. Are you concerned about fancy offices, national franchise and broker support? It’s understandable. As an agent you will receive all the support provided by the traditional broker. Do you really want to pay for your right to be with the big names at the price of $15,000 – $30,000 per year?
Let’s go on and keep thinking how to advance your career further. What are you going to do with extra money you are making? The best decision you can make is to wisely invest in yourself and that includes real estate sales seminars, lead generation system, building and promoting your website, organizing your home office, networking, etc. You know…the good stuff. The stuff that will pay off in a short and a long run. If you wisely invest in yourself, you should expect higher income in all consecutive years of your real estate career.
You must build your own brand, not the brokerages! Oh, and don’t forget, no franchise fees, no desk fees, no nickel-dime fees, no coffee club fees, no broker owner retirement plan fees.