As a real estate agent in Georgia, it’s typical to want to compare your salary to your colleagues in the rest of the country.
Real estate is a flexible career, and you could easily use your skills in other states if it means a higher salary for the same job. In fact, there are some real estate licenses that are reciprocal from state to state.
So, how does Georgia measure up to the rest of the country?
Average Salary for Real Estate Agents in Georgia
According to the Bureau of Labor Statistics data from May of 2018, the average salary for a Georgia sales agent is $50,450. That works out to be $24.25 an hour for full-time agents.
Average Salary for Real Estate Agents in the Rest of the United States
According to U.S. News, Real Estate Agents made a median salary of $48,690 in 2018. The best-paid 25 percent made $74,530 that year, while the lowest-paid 25 percent made $33,020. This means that Georgia real estate agents earn a salary that is slightly above the average of the rest of the country.
Breakdown by States
The U.S. Bureau of Labor Statistics also collected data on real estate agents’ salaries across the country.
Here are the top 5 states where real estate agents make the most money on average:
New York ($116,460)
Rhode Island ($84,280)
Here are the bottom 5 states where real estate agents make the least amount of money on average (from most to least):
Now, if you take these numbers at face value, it may seem like Georgia’s real estate agents salaries are somewhat low. But, it’s important to think about the statistics of the states that are being listed here.
As they always say -- location, location, location!
State where real estate agents make the most money
Let’s look at New York. While many people live in the state of New York, the city of New York is home to 8 million people alone. New York City also tops the charts as the most expensive place to live in the United States. According to Investopedia, the cost of living in New York City is 120% higher than the national average. And homes in Manhattan are worth millions of dollars.
So, it makes sense that New York real estate agents make the most out of all the real estate agents in the country. They are working with the most expensive properties this country has to offer.
State where real estate agents make the least amount of money
Now, take Arkansas on the other hand. According to Zillow, the median cost of an Arkansas home is $128,777. There are only 2 states with lower average home costs than that. The median household income in Arkansas is $47,062. Although the average income of a real estate in Arkansas is still low, it makes more sense when you put it into perspective with the average home value and household income.
Where does Georgia fit in?
Now, let’s see where Georgia falls in this spectrum. The average cost of a house in Georgia is about $201,713. That ranks about 34th highest in the typical home cost in each state. The average mean wage of all occupations in Georgia is $48,280. As you recall, the average salary for a real estate agent in Georgia is $50,450. This means that Georgia's real estate agents make slightly more than the average person in Georgia makes. That statistic is also really good considering the value of homes and property in Georgia.
Want to make more as a Georgia real estate agent?
Since real estate agents work on commission, the higher the value of the property, the more money the real estate agent makes on the commission. Although it will cost you as the agent more money to live in an area with a higher property value, it may be worth the risk.
In a big city like Atlanta, the average home price and value is about $284,365. That’s about $83,000 higher than the state average. You can also go on the hunt for hidden gems -- high property value homes that can sell in areas outside the city. It’s all about how you market the place.
Needless to say, if you are a real estate agent in Georgia, there’s a good chance you will be able to earn a good living and be financially stable in your state’s economy.