I am pleased to share my real estate agent salary calculator with the online world. The calculator is designed for newer agents trying to determine how much they will earn. Think carefully about how many homes you can realistically sell. Have some fun with it.
How to Use This Calculator
Please see the below video for a demonstration.
Note, if the video does not load on your browser, you can watch it directly on pyvt by clicking here.
Corrections. #1) 3:55 NAR, liability insurance, and MLS fees are generally flat fees. They only amount to 10% of an agent’s salary if they are not making much, such as part-timers like I mention. #2) 5:25 I said every week when I meant to say every other week.
The real estate salary calculator is intended for newer agents who are self-employed. Note, the calculator does not include a field for rentals. Rentals usually only pay out a fraction of a commission of a home sale (usually 1/2 month rent, where I am located). So, if you intend to do a few rentals on the side, simply add a home sale or two to your first line total. Taxes are not included either, but many of an agent’s expenses may be able to be written off.
Fill out each line of the real estate agent salary calculator to estimate how much your total salary will be. Feel free to delete the placeholder content. Check out the info boxes next to each question: I have included information to help you better estimate the correct answers for your specific situation. The gross salary is automatically tabulated. Hopefully the calculator shows you how many moving parts there are when determining a real estate agent’s salary.
Real Estate Agent Commission Calculator
Note, you can use the above calculator to determine the real estate commission of a single deal. Simply put “1” in line one, and then type in the sale price of the home in line two. You can put “0” in the later lines that pertain to expenses.
Remember, commission in real estate is always negotiable. There is never a set fee. Play around with the calculator a bit to see how charging a different gross sales price percentage impacts your take home pay.
How Much Does the Average Real Estate Agent Make?
According to the U.S. Bureau of Labor Statistics, the average real estate agent makes about $50,000 a year. Don’t sweat it though, I personally know agents who are pulling in six and even seven figures. You read that right.
Additionally, some agents are independent contractors (1099), while others are salaried employees (W-2). Salaried employees usually have a higher starting salary while self-employed, independent contractors, make less during their first few years, but can make more as they gain more experience.
Very generally speaking, agents who work in cities tend to make more than those in rural areas. However, there is more competition in cities. Also, some agents in suburban and rural areas have done very well for themselves by utilizing innovative sales strategies.
Salary Estimates per State
According to Indeed, here are the highest to lowing paying states for average real estate agents.
Higher Than The National Average Salary Per Agent
Washington, Maryland, Nebraska, Virginia, New York, Delaware, New Hampshire and Oklahoma.
Average Salary Per Agent
California, Massachusetts, Vermont, Hawaii, Wyoming, Idaho, Connecticut, Maine, West Virginia, Pennsylvania, Rhode Island, Texas, Alaska, New Jersey, Montana and Nevada.
Lower Than The National Average Salary Per Agent
North Dakota, Arizona, Indiana, Minnesota, Tennessee, Wisconsin, South Dakota, Ohio, Kentucky, Oregon, Utah, Georgia, Louisiana, South Carolina, Colorado, Kansas, Alabama, Iowa, New Mexico, Florida, Arkansas, Michigan, Mississippi, Illinois, Missouri and North Carolina.
How Do I Become a Real Estate Agent?
If you want to find success as a real estate agent, that takes time and practice. Most agents wash out within the first few years. Check out the resources page to learn more about the field before you decide to jump in. Questions? Please fill out the form on the contact page.