The average salary for a real estate agent in California is around $59,420 per year. Real estate agent salary by state.
|State Name||Average Salary|
Each real estate office sets its own standards for top producers, but it’s safe to say that a top producer would have to sell at least one home a month to qualify. Top producers earn around $112,610 a year to start, according to the BLS. 4 Mega-stars could earn $500,000 per year and up.
According to the Bureau of Labor Statistics, the average income for Real Estate agents in the state of California is $73,450. California is one of the top earning states for Real Estate agents . Hard work is essential to high salaries, however.
Bottom Line: Broker vs Agent Real estate brokers have more experience, undergo more training, and make more money than real estate agents . They are also the only real estate professionals who can open their own brokerage or property management firm.
Detailed List Of Highest Paying Jobs In California
|Rank||Job Title||Average Salary|
|1||Surgeons , Except Ophthalmologists||$248,100|
|3||Obstetricians And Gynecologists||$236,730|
However, our new study, published in our 2019-2020 Real Estate Income Report, reveals a big incentive for sticking around: the average real estate income doubles after year one. Agents in our study reported earning an average of approximately $15,000 when they had been in business for under a year .
The fluctuations within the real estate market have been worse in 2020 due to the COVID-19 pandemic that has caused many sellers to pull off their listings and interest rates to hit a record low. Still, we believe it’s a good time to become a realtor.
But unlike W-2 jobs, a commission-based job like real estate agent or broker has limitless income potential. Some agents make over a million dollars a year. You get back in income what you put into it in effort and time. New agents typically have to give more to their brokers because they require more training.
Real estate can make you a millionaire. Sure, this might sound like the promise of a late-night television salesperson trying to get you to attend the latest “free seminar,” but the reality exists: real estate is a powerful wealth building tool that has made millions of individuals millionaires.
Most agents work under a ”debit-credit” system, where they are paid a monthly wage and if the amount they earn on commissions exceeds that base wage, the difference is added to their pay . Some agents get paid purely on commission, but Sammut says this practice is becoming less common.
1. Wrong Expectations. The number one reason people quit real estate is because they expect to see immediate results. People expect a solid month of hard work to result in a good deal and a lot of money, and when it doesn’t, they are quick to decide real estate must not be for them.
Agent Ben Caballero
They might be associates, real estate consultants, salespersons, independent brokers , or REALTORS®—but they are all licensed to sell real estate. There is some nuance, though. Real estate brokers can work as agents, but agents can ‘t work as brokers unless they have a broker’s license.
Brokers are more experienced and qualified and can work as independent agents or have other agents work for them. Realtors are part of the National Association of Realtors , a trade organization, and can hold any position within the real estate industry.
For starters, real estate brokers make more money on average than agents . According to the U.S. Bureau of Labor Statistics, the average salary of a real estate broker is $75,910. To put this in perspective, the average real estate agent salary is $59,630—that’s 20 percent lower.