It would not be possible to sell offices, hospitals, banks or factories so quickly without the help of real estate agents. These representatives coordinate the valuation of the properties, develop advertising material, find suitable buyers and negotiate sales and leases. They usually work with high-income buyers who run their own businesses or want to invest in properties. People who want to start an activity as real estate representatives should take several courses or educational programs. In compensation, the annual income they can expect for their services is considerably higher than the average general income.
Salary and skills
According to data from the Indeed site, real estate representatives average an annual income of US $ 90,000 per year as of 2013. This is considerably more than the average general income in the United States that is US $ 51,170, according to a report from the Ministry of Labor Statistics (BLS). However, this information is more inclined towards the side of the agents that commercialize residential areas, which explains the wide variation. Most real estate agents have at least completed high school; They often receive certifications and licenses that accredit them professionally. More and more agencies require their agents to have university studies. Some of the desirable features in a real estate agent include being independent,
Wages by zone
The income of real estate agents can vary greatly within the main regions of the United States: Northeast, West, South and Central-West. Agents located in the Northeast, have an average income ranging from US $ 80,000 to US $ 106,000 – the lowest amounts are in Pennsylvania and the highest in New York. In the West, they reached a maximum of $ 99,000 in California and a minimum of $ 64,000 in Hawaii. In the region that includes Louisiana and Mississippi, agents earned from US $ 76,000 to US $ 105,000, respectively. As for the Midwest region, they received US $ 70,000 in South Dakota and US $ 95,000 in Illinois, representing the largest and smallest amounts.
We can find numerous factors that influence the income of a real estate agent. Those with more experience often earn more, since they have developed certain skills, such as finding new potential clients or selling commercial properties. More experienced representatives are more likely to sell more expensive properties, which positively impacts their profits. The geographical area also influences, as the states of California and New York contain properties that are sold at higher prices. In this way, they earn higher commissions, which are usually determined based on the sale prices of the property.
It is expected that the labor supply, both for commercial agents and homeowners, will grow 11 percent between 2010 and 2020, according to the BLS, which represents a slightly lower growth than 14 percent growth in labor demand. The economy marks the step in terms of job opportunities; Small business owners tend to grow or expand their businesses in growing economies. They need larger properties to house the employees they hire for this purpose. Similarly, corporations require larger locations when they have already exceeded the capacity of their current location.