How Much Do Real Estate Agents Make?

Discussion in 'Starting & Running a Business' started by 2FAST4U, 15th Jul, 2015.

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  1. Beachy

    Beachy Active Member

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    Depends on the average property price in some ways for the agent's core area. I know some agents selling 100 properties at $350k a pop per year and making $500k - $700k per year, whereas others are selling $1.5m properties at 40 per year and pulling $800k - $1.2m in fees. And then you have the prestige agents selling $5-$10m properties and they might only sell 15 a year but pull in $1m - $2m in comm. Depends on where you live and specialise. Most of the top tier agents have a team of 2-3 PA's to assist. I think James Tostevin from Melbourne pulls in around $4m in comm
     
    Beachy, 17th Jul, 2015
    #41
  2. WattleIdo

    WattleIdo midas touch

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    Now that sounds like fun!
     
    WattleIdo, 17th Jul, 2015
    #42
  3. TMNT

    TMNT Well-Known Member

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    maybe its actually a ethical franchisor!!!! (do they even exist!!!)

    the last time I tried to work out what an agent earns, if I recall, base was $35-$45k, with about 30% comissions off the sales fees

    so using your example, $425k 2.2% ( I havent seen many places for 2% , maybe you are a gun negotiator!)

    one sale per week - $190k
    one sale per fortnight-$107k
    one per 3 week-$83k
    one per month-$69k

    in a hot market I can see them selling one per week,

    does anyone know averages???
     
    TMNT, 29th Jul, 2015
    #43
  4. johnpendlebury

    johnpendlebury Well-Known Member

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    no idea, but all the REA i run into drive pretty fancy cars.

    -Porsche Cayenne's
    -BMW 6 series
    -Merc GLE's

    etc etc

    I get that part of it is giving off a perception of success and also their cars are a tax write-off, but still. I reckon some of the Adelaide agents are making a killing.
     
    johnpendlebury, 20th Dec, 2015
    #44
  5. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    It depends on many things as has been already pointed out. Other things I have noticed in some selling agents I know is that they are convinced they need an expensive-looking car to be taken seriously. So now they need to earn more to pay for the car. Then there is the phone to pay for ... they make los of calls. You get the idea. Covering your base costs is kind of high in the selling agent game.

    Yes it is location dependent in both the selling agent field and that of property management. One property manager might be earning $40k pa while someone an hour down the road gets $100k and doesn't have to work weekends.
     
    JacM, 20th Dec, 2015
    #45
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