Mls Campus Blog

Hi all, Thank you for taking the time to explore our blog. This blog is all about real estate.

How Much Money Can Real Estate Agents Make in Florida in 2022?

User Rating: 5 / 5

Star ActiveStar ActiveStar ActiveStar ActiveStar Active
 

Florida home prices are expected to grow by 11% in 2022, according to Zillow.com. Now is a perfect time to consider a career in Florida Real Estate, with Zillow.com naming Tampa and Jacksonville the hottest housing markets for 2022! They are predicting house values in Tampa to grow by almost 25%.
So if you are looking to jump into the world of real estate and get your real estate license, you may be asking yourself what income can real estate agents expect to earn in 2022?
Let’s take a look!

So, what is the average real estate agent income in Florida?

According to Indeed.com, and other popular real estate recruitment sites, the average real estate income in Florida for 2021/2022 is around $84,644 for real estate sales agents with 1-2 years of experience. Furthermore, experienced real estate sales agents with over 10 years of experience were reporting average incomes of $111,059.
This is up from 2020, where the average income for Property, Real Estate & Community Association Managers was $69,310. (Source: Bureau of Labor Statistics)
Some cities in Florida are reporting even higher than average incomes for 2021/2022. In Kissimmee, Florida, average incomes of $97,228 a year have been reported, $95,938 in Tampa, $94,456 in St Petersburg, $94,413 in Lakeland, and Miami was reporting average salaries of $93,894. (Source: Indeed.com)
Your income greatly depends on the number of hours you work. The more time you invest in your career, the more you will reap the benefits. Being knowledgeable about the local real estate market, and finding a successful brokerage to work for, who will mentor you through your first few years of working as a sales agent, will greatly improve your chances of success. Choose your employing brokerage wisely and do some research on your potential employer. Find out their reputation in the local area, and the length of time their employees have worked at the brokerage for. If a brokerage has employed people that have worked in the business for a reasonable length of time, it is a good sign that the business looks after their sales agents and broker associates. Remember, it is not just a case of the brokerage choosing qualified employees. You also have the opportunity to choose your employing broker!
There is also the very important factor of commission earnings.

How is a real estate agent commission calculated?

In Florida, real estate sales associates are only permitted to receive a commission payment from their employing broker. It is unlawful to receive or even negotiate commissions directly from clients or customers.

The fee that a brokerage receives from a seller can vary from 3-7% in regards to residential property transactions. The agent will then receive a percentage of the fee, from their employing broker. The average commission split in Florida, between a broker and their sales agents is around 30/70.

For example, if you sell a house on behalf of your employing broker, for $650,000, and the broker has negotiated a commission with the seller, of 6%, then the commission the brokerage will receive will equal $39,000. But what if there is another agent involved in the transaction? If another agency has also been involved in the transaction the buyer’s brokerage will receive half of the commission. (3% of $650,000) meaning both brokerages receive a 50/50 split of $39,000, which equals $19,500.

Your commission from your employing broker will then be calculated. So, if you receive 70% commission from your employing broker, it would equal 70% of $19,500, meaning you would earn a commission of $13,650 for your hard work. As you can see, a career in real estate can be financially rewarding!

Factors to consider when building a successful career in Florida Real Estate 

Your success and financial rewards in your career as real estate sales professional will heavily rely on your networking ability! Real Estate career progression is based on how well you can create and maintain relationships with buyers and sellers, and members of your local community. Frequent networking will help achieve your goals of becoming a successful real estate agent and increase your potential of earning a rewarding real estate income!
There are many other factors, that can affect your income and commission. Be sure to research the average salaries in your local area, as the average base income for Florida Real Estate Agents fluctuates from city to city.
Florida’s Economy is growing which should have a positive impact on your real estate income. More employment growth and more opportunities for businesses to grow and flourish results in home buyers being attracted to Florida state.
So, are you ready to get your real estate agent in Florida? Enroll in your 63hr Pre License Sales Associate Course in Florida and start your new career now!
Need more information on Florida Real Estate Licensing?

Read our Blog on How to get a Florida Real Estate License

Search