North Carolina is making headlines for having some of the hottest real estate markets in the U.S. But what does that mean for your bottom line as a real estate agent? You can make a decent income in NC, and the best part is, the amount you make isn't capped by a boss. Being self-employed, your earning potential lies in your own hands. So how much are agents making, on average? Here are some industry estimations.
How Much Do North Carolina Real Estate Agents Make?
The amount you make as a real estate agent in North Carolina will vary greatly depending on the time and effort you put in, your years of experience, where you work, what brokerage you work with, and more. However, you can get a ballpark idea by looking at industry averages.
Here are five estimations on the average annual earnings of real estate agents in NC:
Indeed reports an average base salary of $96,175, based on 969 reported salaries.
ZipRecruiter reports average earnings of $61,087 per year, with the majority of agents making between $41,831 and $80,444. The highest earners made around $120,000 while the lowest made around $10,000.
Glassdoor reports an average salary of $67,000, based on 66 reported salaries.
Salary.com reports an average of $41,581, with the majority of salaries falling between $40,000 and $52,000.
CareerExplorer says the average annual salary is about $60,000.
The above annual salary estimations range from about $40,000 up to $96,000, with the average being about $65,000. That means a full-time real estate agent would likely average around $65,000 — but there is a good potential to earn more.
How Do Real Estate Commissions Work?
The commissions you'll earn as a real estate agent will be a percentage of the purchase price on each home you help clients to buy or sell. In most cases, 6% of the sale price goes towards commissions. The 6% gets split between the buying and selling agents. Then, the commission often gets split again on each side by the brokerage and the provisional broker.
So, let's say you helped a client to buy a home for $350,000. A 6% commission payout would equal $21,000. If the $21,000 was split evenly between the buying and selling agents, each side would get paid $10,500. Then, if you and your brokerage agree to a 50/50 split, your payment on the sale would be $5,250.
If you wanted to make $65,000 a year selling homes around $350,000, you'd have to sell 12 to 13 throughout the year, or about one per month. If you're selling homes below that price, you'd need to sell more while homes above that price would require selling fewer. By understanding your commission structure and target market, you can set goals and break them down to figure out what you'll need to do each day, week, and month to meet your annual target.
Get Your North Carolina Real Estate License!
Ready to start a new career in NC real estate? Getting your license is easier than ever, as you can complete the required education requirement online. Aceable provides engaging courses that you can take from a computer or mobile device. Work through the 75-hour course from wherever works best whenever it fits into your schedule. Then, you can apply, take the final exam, and get started building your real estate business.
Learn more about Aceable's North Carolina online real estate courses!