In last week’s post, we discussed the NAR’s report about the member realtor income increase, almost 10% higher than last year. While many of you reading this may be seasoned veterans of the real estate industry, some of you may also be part of the growing next generation of realtors. Or for those realtors looking to increase their income this year or making the jump into luxury real estate sales, keep reading for more information on what you really can expect to make in 2014.
Thanks to the NAR, we at least have statistical evidence that supports the assumption that as the housing market comes out of recovery and home prices increase, so will commissions in 2014. The Wall Street Journal Online published an article at the beginning of the year, discussing the reality of a career in real estate specifically luxury real estate sales. It suggests that while breaking into real estate may be easy, it may not make you rich.
To read more, click here. You can also take their “Are You Smarter Than a Real-Estate Agent?” quiz to make sure you are on the right track.
Mark Ferguson, author of “How to Make it Big in Real Estate, From a Millionaire Agent”, wrote an article for LinkedIn last month describing in detail the topic of how much real estate agents make. He also discusses the average realtor income as well as corresponding hours worked. Some of the questions he answers are:
How much money does a traditional buyer’s agent make?
How much money can a listing agent make?
How much money can a REO agent make?
How much money can a real estate agent make by building a team?
The Motley Fool also published an article stating that “The higher earners are also much more likely to actively blog about real estate in order to attract potential buyers and sellers, and they are are much more likely to use online video sites such as YouTube to broadcast videos of their listings and other real estate topics.” So having a tool like Clearview Elite can clearly help increase realtor income this year. Across the board, utilizing real estate sales technology seems to be one of the hallmarks of a successful real estate professional.
So how much will a Real Estate Agent make in 2014?
Point 2 provides a great image below on “How much will a Real Estate Agent make each year?” This infographic breaks down the formula to help you know how many houses you’ll need to sell this year to make the NAR’s updated median realtor income of $47,700 and beyond.