Real estate agents typically don’t receive a salary or hourly rate; rather, they are paid a commission when a transaction is complete and closed.
In Florida, this fee typically ranges between 5% and 6% of the home’s selling price. Usually, the seller covers this expense and deducts it from their sale proceeds at closing.
Real Estate Agent Salary in Florida
If you’re thinking about a new career, it’s essential to research the average salary for the over 200k real estate agents in Florida. Doing this will help determine if it is suitable for you.
Agent salaries are determined by several factors, including experience level and hours worked. But one of the most crucial variables is what type of property they are working with.
The price point of a property can have an impact on an agent’s earnings. Luxury homes usually command higher commissions than more affordable units, meaning those specializing in high-end real estate may reap significant rewards from their efforts.
Selecting an area with a vibrant market is wise; this can significantly boost your income in the long run.
Miami, for instance, boasts a highly-priced real estate market and provides an ideal opportunity for new agents to begin earning money. Furthermore, it’s popular among tourists so there’s always plenty of activity in the area.
Jacksonville, Florida, boasts an exciting real estate market for agents. Additionally, it’s one of the fastest-growing cities in America – making it an ideal place to launch your career in real estate.
Highest-Paying Cities for Real Estate Agents in FL
If you’re searching for an exciting career in real estate, there are plenty of cities to choose from. However, some locations offer higher salaries than others.
Real estate agents in Florida tend to make the highest salaries when working in Miami, Fort Lauderdale, and Orlando. These cities boast vibrant markets with excellent housing prospects.
These cities not only offer competitive salaries to their employees, but they also provide a host of other benefits as well. Many real estate firms provide vacation days and flexible work hours as part of the package deal.
The highest-paying cities for Florida real estate agents include:
- Pembroke Pines – $100K per year
- Kissimmee – $99K per year
- Delray Beach – $99K per year
- Davenport – $96K per year
- Boynton Beach – $95K per year
- Orlando – $94K per year
- Tampa $93K per year
- Fort Myers – $93K per year
All of these markets have salaries higher than the average for the state of Florida for real estate agents.
Salary Range for Real Estate Agents in Florida
Real estate agents in Florida make a range of salaries depending on their location, experience, and specialty. Salaries can range anywhere from $25,000 per year up to over $1 million annually.
According to Indeed.com, the average real estate agent in Florida makes about $93K per year. However, Salary.com puts the median salary for a real estate agent in Florida at $42K per year. Both have a range that is much lower and much higher than the average salary.
Real estate can be a highly rewarding career path, but it requires hard work and dedication to achieve significant earnings. On average, first-year agents earn around $83,000, but experienced agents often double that income after just a few years in the field.
A major factor in calculating how much a real estate agent makes is their commission. This percentage of the sale price that they earn from selling or leasing property is typically agreed upon between them and their brokerage, and it’s typically paid once a deal closes.
In addition to the actual commission, a real estate agent must also cover various business costs. These may include expenses related to advertising, promotion, income taxes, real estate career training, and other necessary overhead.
Commission for Real Estate Agents in Florida
In Florida, real estate agents receive a commission when they sell or assist someone buy a home. This fee typically ranges between 3 and 6% of the home’s price and is paid by either the seller of the property or the buyer.
A real estate agent’s earnings will depend on their skills and knowledge. For instance, if they possess strong marketing and sales abilities, then they can charge higher commission rates. Knowledge of WordPress, Google Ads, and Market Analysis tend to be the skills that help real estate agents make higher salaries in Florida.
