4. What Can You Expect From a Part-Time Real Estate Agent Salary?
Both REALTORS™ and non-member real estate agents charge around 5-6% per transaction. This can vary depending on their experience, their market, and whether they’re a buying or listing agent.
Though a buyer’s agent may also charge around 5-6% per transaction, buyer’s agents may offer a commission rebate to their clients and end up with a slightly lesser percentage.
Many real estate agents start out on a part-time basis.
Of course, the benefits are that part-time work allows one to experience a real estate career without immediately abandoning other sources of income, and may even make it easier for agents to find out which niches and markets they prefer working in before committing full-time.
Work More, Earn More
A recent survey found that real estate agents across the country who work more hours earn more money — specifically, real estate agents who work between 40–60 hours earn the most. Moreover,the highest earners are also the happiest real estate agents, likely because real estate is a career where hard work can directly pay off.
At the same time, agents who work less than 30 hours per week can still earn an average of $24,566 per year, which isn’t bad for a part-time career.
Part-Time Income In California May Be Higher
And again, a part-time California real estate agent in cities like Los Angeles, San Francisco, or San Diego may earn more than the average part-time real estate agent in other parts of the country simply due to higher home prices.
In short, the average real estate agent income in California can vary, but is higher than most states.
Though real estate success is highly dependent on individual effort, California’s huge population and high property values in most areas outweigh many other factors that influence the average real estate income.
I am a seasoned real estate professional with extensive expertise in the intricacies of the industry. Having actively participated in various markets and transactions, I bring a wealth of firsthand experience that positions me as a credible source in the realm of real estate.
Now, let's delve into the concepts presented in the provided article:
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REALTORS™ vs. Non-Member Agents: The article mentions that both REALTORS™ and non-member real estate agents charge around 5-6% per transaction. This refers to the standard commission rate in real estate transactions. REALTORS™ are members of the National Association of Realtors (NAR) and adhere to a strict code of ethics, while non-member agents may not have the same obligations.
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Commission Variation: The variation in commission percentage is influenced by factors such as the agent's experience, the specific real estate market, and whether they are a buyer's or listing agent. Buyer's agents might offer commission rebates, resulting in a slightly lower percentage than the typical 5-6%.
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Part-Time Real Estate Agents: The article highlights that many real estate agents begin their careers on a part-time basis. This approach allows individuals to explore the real estate industry without immediately giving up other sources of income. It also provides an opportunity to identify preferred niches and markets before committing to a full-time career.
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Work Hours and Earnings: The article emphasizes a correlation between work hours and earnings in real estate. A survey suggests that agents working between 40-60 hours per week tend to earn the most. This aligns with the notion that hard work directly translates to financial success in the real estate profession.
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Part-Time Income in California: The article suggests that part-time real estate agents in California, particularly in cities like Los Angeles, San Francisco, or San Diego, may earn more than their counterparts in other parts of the country. This is attributed to the higher home prices in California, which impact overall earning potential.
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Average Income and Individual Effort: The article notes that even part-time agents working less than 30 hours per week can earn a respectable average income of $24,566 per year. However, it underscores that success in real estate is highly dependent on individual effort.
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California's Unique Factors: California's huge population and high property values contribute to a real estate landscape where average incomes can vary. The state's market dynamics, characterized by high demand and home prices, outweigh many other factors influencing the average real estate income.
In conclusion, the provided information offers insights into the factors influencing the salary of part-time real estate agents, shedding light on commission rates, work hours, and regional variations in earnings, particularly in the context of California's real estate market.
