Study: Real Estate Income Doubles After the First YearBy Tom Davidson
For many real estate professionals, the first year is the hardest; however, our recently released 2018 Real Estate Agent Income Guide reveals a big incentive for sticking around: the average real estate income doubles after year one.
Agents in the study reported earning an average of $19,375 when they had been in business for under a year; agents with 1-3 years of experience saw their earnings increase to $41,023. It doesn't stop there—longevity in the business continued to be a strong predictor of take-home pay throughout an agent's career. Agents with 4-10 years of experience reported an annual income of $62,138, and that number jumped to $83,177 for agents with 11-25 years of experience and went as high as $86,329 for agents who had been active for more than 26 years. Common Challenges for First-Year Real Estate Agents Each new agent comes with their own set of unique challenges in their first year, but there are some common snafus they run into as they're getting started:
The jump in income after one year may be welcome news to agents who are struggling through the early stages of their career. So, what can new agents do to make it through the first 365 days? And how can their brokerages or fellow agents help them out?
Tom Davidson is the general manager of Real Estate Express, the national leader in online learning for pre-licensing, continuing education and professional development. Davidson has nearly 15 years in the real estate industry. From sales training and product development to growing the business, his multi-faceted background encompasses crucial functions to a successful career in the field. |
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