How Much Do Realtors Make in NYC?
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How Much Do Realtors Make
How Much Do Realtors Make in NYC: https://www.hauseit.com/how-much-do-r...
Save up to 6% in Broker Commission: https://www.hauseit.com/fsbo-nyc/
How much money a real estate agent makes in NYC depends on how much business they bring in and what commission split they have with their sponsoring broker.
The first thing you need to understand is that being a real estate agent means being a commission only salesperson. There are no salaries or cushy pensions in real estate sales, and a real estate agent is only paid if and when they close deals.
The only exceptions to this are office managers, or managing brokers, at larger brokerage houses who may receive a salary.
How Much Can Realtors Make in NYC?
Realtors in NYC enjoy some of the highest commission earnings in the country. That’s because property values are the highest in the nation and among the highest in the world. The average home sells for $2 million in NYC while the average property price nationwide is around $200,000. And because commission rates are fairly standard at 6% across the country, New York agents enjoy ten times higher earnings for the same amount of work versus their countrymen.
However, the math is not that simple because of how many agents there are in NYC and the resulting competition. Because potential earnings are so high as a real estate agent in NYC, there are a lot of agents competing for a slice of the dream as you can imagine. In fact, there are approximately 50,000 licensed real estate agents in the NYC metro area!
Considering that there are only on average 5,000 closed deals in a year, that means the average agent closes zero deals! In fact, it is a widely quoted statistic that 90% of the deals in NYC are closed by the top 10% of real estate agents.
Assuming an average 6% commission rate and an average sale price of $2 million, that would mean the average yearly income of a top real estate agent in NYC is $108,000.
How Much Do Realtors Make in NYC Typically?
The truth is that most licensed real estate salespeople in NYC have no deals. Many agents are tempted by the high earnings of top brokers they hear about, so they end up getting their real estate license and parking it with a sponsoring broker in NYC. However, many of these agents will be working full time or part time in another job or industry, and will not be actively working in real estate.
Others get licensed and quickly lose heart and resolve. As a result, there is a wide swath of licensees in New York City that are not even actively trying to source and close deals.
For these typical real estate agents in NYC, the answer to how much do Realtors make is zero.
Looking to buy or sell a home in New York? Learn how you can save on commission and closing costs at https://www.hauseit.com
List Full Service for Just 1%: https://www.hauseit.com/agent-managed...
#hauseit #hauseitnyc
https://www.hauseit.com
Save up to 6% in Broker Commission: https://www.hauseit.com/fsbo-nyc/
How much money a real estate agent makes in NYC depends on how much business they bring in and what commission split they have with their sponsoring broker.
The first thing you need to understand is that being a real estate agent means being a commission only salesperson. There are no salaries or cushy pensions in real estate sales, and a real estate agent is only paid if and when they close deals.
The only exceptions to this are office managers, or managing brokers, at larger brokerage houses who may receive a salary.
How Much Can Realtors Make in NYC?
Realtors in NYC enjoy some of the highest commission earnings in the country. That’s because property values are the highest in the nation and among the highest in the world. The average home sells for $2 million in NYC while the average property price nationwide is around $200,000. And because commission rates are fairly standard at 6% across the country, New York agents enjoy ten times higher earnings for the same amount of work versus their countrymen.
However, the math is not that simple because of how many agents there are in NYC and the resulting competition. Because potential earnings are so high as a real estate agent in NYC, there are a lot of agents competing for a slice of the dream as you can imagine. In fact, there are approximately 50,000 licensed real estate agents in the NYC metro area!
Considering that there are only on average 5,000 closed deals in a year, that means the average agent closes zero deals! In fact, it is a widely quoted statistic that 90% of the deals in NYC are closed by the top 10% of real estate agents.
Assuming an average 6% commission rate and an average sale price of $2 million, that would mean the average yearly income of a top real estate agent in NYC is $108,000.
How Much Do Realtors Make in NYC Typically?
The truth is that most licensed real estate salespeople in NYC have no deals. Many agents are tempted by the high earnings of top brokers they hear about, so they end up getting their real estate license and parking it with a sponsoring broker in NYC. However, many of these agents will be working full time or part time in another job or industry, and will not be actively working in real estate.
Others get licensed and quickly lose heart and resolve. As a result, there is a wide swath of licensees in New York City that are not even actively trying to source and close deals.
For these typical real estate agents in NYC, the answer to how much do Realtors make is zero.
Looking to buy or sell a home in New York? Learn how you can save on commission and closing costs at https://www.hauseit.com
List Full Service for Just 1%: https://www.hauseit.com/agent-managed...
#hauseit #hauseitnyc
https://www.hauseit.com
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