In this salary guide, you will find out how much do Real Estate Brokers make.
After reading this, you will be able to make a decision if working as a Real Estate Broker will suit your financial goals (e.g: buying a home, BMW or just your target salary goal).
$79340 per year
$38.140 per hour
One of the most popular questions we get from our readers here at OwlGuru is how much do Real Estate Brokers make per year and what is their hourly wage.
According to BLS, the average annual salary of Real Estate Brokers is $79340. Their salary can also be as low as $24370 if you’re still a newbie with no experience to over $162260 if you have a ton of experience under your belt.
The typical hourly pay is $38.140 and can range from $11.720 to $78.010 which also depends if you’re a newbie or a professional.
Just like any other job, the salary of A Real Estate Broker will vary based on your education and experience level.
# = Over $100 per hour or $200,000 per year.
We wanted to make it easy for our readers to compare the salary of A Real Estate Broker to all the other careers out there. So we created Salary Rank.
This compares the salary of all careers and we give them a rank of A, B, C or D depending on how high or low is their average salary.
After comparing how much do Real Estate Brokers make with other careers, they have a salary rank of A.
|Highest (Top 10%)||$78.010||$162260|
|Senior (Top 25%)||$45.690||$95030|
|Middle (Mid 50%)||$27.300||$56790|
|Junior (Bottom 25%)||$16.440||$34190|
|No experience (Bottom 10%)||$11.720||$24370|
Entry-level Real Estate Brokers who starts out at $34190 can expect to make $56790 after 3-5 years of experience in the field.
The bottom 10% makes less than $11.720 per hour while the top 10% makes over $78.010 per hour.
While the median wage is $56790 per annum or $27.300 per hour.
Depending on who you work for, you might also get overtime pay.
# = Over $100 per hour or $200,000 per year.
Highest paying industries
|Industry name||Hourly wage||Annual salary|
|Insurance Agencies and Brokerages||65.77||136800|
|Securities, Commodity Contracts, and Other Financial Investments and Related Activities||61.79||128520|
|Nondepository Credit Intermediation||51.06||106200|
|Other Nondepository Credit Intermediation||51.06||106200|
|Business, Professional, Labor, Political, and Similar Organizations||48.47||100830|
|Other Services (except Federal, State, and Local Government)||48.38||100640|
|Religious, Grantmaking, Civic, Professional, and Similar Organizations||48.38||100640|
|Residential Building Construction||47.68||99180|
|Construction of Buildings||47.6||99000|
|Finance and Insurance||42.32||88030|
|Credit Intermediation and Related Activities||42.28||87930|
|Insurance Carriers and Related Activities||41.65||86640|
|Offices of Real Estate Agents and Brokers||40.46||84150|
|All industries, private ownership only||38.79||80690|
|Activities Related to Credit Intermediation||38.42||79910|
|Real Estate and Rental and Leasing||38.31||79680|
|Oil and Gas Extraction||37.51||78030|
|Lessors of Real Estate||37.29||77570|
|Colleges, Universities, and Professional Schools (including private, state, and local government schools)||36.56||76040|
|Educational Services, State government owned||35.97||74820|
|Colleges, universities, and professional schools, State government owned||35.97||74820|
|Management of Companies and Enterprises||35.68||74210|
|Educational Services (including private, state, and local government schools)||35.25||73320|
|Activities Related to Real Estate||32.53||67660|
|Local Government, excluding schools and hospitals||30.12||62650|
|Local government, including schools and hospitals||30.09||62580|
|Federal, state, and local government, including government owned schools and hospitals, and the US Postal Service||28.25||58770|
|Federal, State, and Local Government||27.57||57340|
|Federal, State, and Local Government, excluding state and local schools and hospitals, and the US Postal Service||27.57||57340|
|State government, including schools and hospitals||26.17||54420|
|Direct Insurance (except Life, Health, and Medical) Carriers||24.58||51120|
|State Government, excluding schools and hospitals||24.17||50280|
|Depository Credit Intermediation||21.6||44930|
Not all industries pay the same for Real Estate Brokers.
One of the easiest way to increase your salary is to change industries and find a higher paying one.
Highest paying states
Another simple way to boost your pay as A Real Estate Broker is to move to a higher paying state. However moving to a higher paying state like DC doesn’t mean you will make more overall. This is because the expenses at DC may be 2x higher than where you are currently living at right now.
According to the BLS, the highest paid / most successful Real Estate Brokers are in the states of DC, NH, NV, OH and HI. The average salary in DC is $148730.
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They rent, buy, or sell property for clients. Perform duties, such as study property listings, interview prospective clients, accompany clients to property site, discuss conditions of sale, and draw up real estate contracts. Includes agents who represent buyer.
They evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
They appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
They plan, direct, or coordinate the selling, buying, leasing, or governance activities of commercial, industrial, or residential real estate properties. Includes managers of homeowner and condominium associations, rented or leased housing units, buildings, or land (including rights-of-way).
They sell or solicit advertising space, time, or media in publications, signage, TV, radio, or the Internet. Includes individuals who obtain leases for outdoor advertising sites or persuade retailers to use sales promotion display items.
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