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How Much Do Real Estate Agents Make a Year?

by AEA Staff

Retired couple discover the benefits of hiring a real estate agent to sell their house.

There are certain things in life that just need a real estate agent to go through them to expedite the process. Selling your house is one of those things that sometime seems like a really tough job, and sometimes it doesn’t matter if you want to sell it quickly, or put in the time doing it yourself. Another question is do you want to wait until someone comes knocking and do the wholesale work they have no experience nor knowledge about?

What Is The Job of A Real Estate Agent?

A REAL ESTATE AGENT IS A PERSON WHO BRINGS BUYERS AND SELLERS OF HOUSES, LAND, AND OTHER REAL ESTATE TOGETHER NECESSARILY BY RECOMMENDING FEATURES OF A POSSIBLE PURCHASE. A real estate agent, who is known as being a “hospitality broker” acts as a third party, without whom both parties wouldn’t be there.

The real estate agent might familiarize buyers with houses they might be interested in and talks about the pros and cons of each. In real estate exchanges, the agent typically suggests the terms of sale for purchase and sale; negotiates the contracts; collects necessary signatures on behalf of his or her client; hires an escrow officer to manage sales contracts; holds any advance payments made by prospective buyers or sellers; and receives money for commission from the seller after closing. There are many other tasks that are not mentioned such as preview sessions and showing property to prospective buyers.

So How Much Money do they Make?

The median salary for a residential real estate agents is $38k/yr according to indeed.com. They also gave some other salaries based off position that include:
-$50k/yr – I’m not sure how they got this, but when they asked retried couple who hired an agent (this was the total final sale price)
-$80k/yr – Housing Associate Broker or Saleslady – This term was not used with me, but would be comparable to my position

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