When it comes to making money, experience is everything

Rookie real estate agents often have a tough time getting their businesses going, but a new study says it’s worth hanging in there.

According to the 2018 Real Estate Agent Income Guide, a study conducted by pre-licensing firm Real Estate Express, most new agents double their income in the second year of doing business.

Those in their first year reported an average annual income of just $19,375, the study found. However, those who’ve been in business for three years saw their average earnings jump to $41,023, suggesting that it doesn’t take long for most new agents to find their feet.

The study also found that income seems to keep on growing as agent’s experience accumulates. For example, those with four to 10 years of experience pull in an average of $62,138 per year, while those in the business for 11 to 25 years can earn $83,177 per year. And those with 26-plus years in the business earn an average of $86,329, the study found.

Additionally, the study not surprisingly found that agents who work longer hours tend to be better paid. Agents who do 60-plus hours a week make almost four times as much as those who work less than 20 hours a week, the findings show.

“The first year in real estate always is the hardest, but agents that stick with it see the payoff within a year,” researchers note in the report. “Agents that have the most success in the first year are those that find a supportive brokerage and seek out a knowledgeable mentor for guidance.”

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

Recent Posts

Deciding Between A Personal Loan or a 0% APR Credit Card

Whether you are trying to save a down payment for a first home or need…

14 hours ago

Why Real Estate Agents Should Advertise Their Listings Online

It's no secret that we're in the digital age, and real estate agents have had…

14 hours ago


The LGBTQ+ Real Estate Alliance today unveiled its second-annual LGBTQ+ Real Estate Alliance Top Producers…

17 hours ago

Zillow study highlights higher mortgage fees for buyers with lower credit scores

Elevated home prices and rising interest rates are feeding into housing affordability woes for potential…

21 hours ago

Are U-Haul Trucks Affordable With Rising Home and Gas Prices?

Americans are constantly on the move, and using U-Haul trucks is still one of the…

22 hours ago

Why a 15-Year Mortgage is Better than a 30-Year Mortgage

Nearly 87% of people who buy homes finance their home purchases. While many choose 30-year loans, some…

22 hours ago