If you’re considering getting your Florida real estate license, you probably want to know how much money you’re likely to make as a real estate agent in Florida.
It’s not always easy to predict real estate agent income because your income as an agent is 100% dependent on your performance. Real estate income is typically commission-only. So your pay is directly tied to your sales. You can work (and earn!) as much or as little as you choose.
But it’s still useful to know how much other Florida real estate agents make. This information can help guide you in setting realistic expectations and achievable income goals.
In this post, we’ll discuss:
factors that affect your real estate income
how much the average real estate agent makes in Florida
how much agents can make in Florida
how to maximize your income potential in Florida
Factors that Affect Your Real Estate Income
Several key factors contribute to your income as a commission-only real estate agent. Before we look at the average incomes for real estate agents in Florida, let’s take a quick look at these key factors, paying attention to how they could skew the averages.
Working Part-Time vs Full-Time
Since real estate agents get to make their own schedules, many agents choose to work part-time. Many agents practice real estate while semi-retired, many work while raising a family, and some work in real estate as a side hustle.
These part-timers naturally bring the average income figures down since most part-time agents earn less than full-time agents.
Ability to Generate Leads and Close Deals
With your income tied to your sales, your earning potential is directly related to your ability to generate new leads and close deals. Focus on that and hire a virtual assistant or transaction coordinator to handle the paperwork side to increase your income.
Your commission is a percentage of the sales price, so the higher the price, the more money you make on a transaction. Agents who work in lower-value markets typically earn less than those working in higher-value markets because each commission check is lower in a low-value market.
Number of Years in the Industry
As a real estate agent, you need time to develop a list of clients, nurture your relationships, and earn referrals. So it makes sense that newer agents earn less than more experienced agents.
How much do Florida real estate agents make on average?
According to the Bureau of Labor Statistics (BLS), the annual mean wage for Florida real estate agents in 2019 was a respectable $62,790.
Considering that this figure takes all the part-timers, new agents, and low-value markets into account, the earning potential of full-time, experienced agents in high-value markets is actually much higher than this annual mean.
How much can Florida real estate agents make?
Take another look at the income-by-state chart above. Notice how the BLS outlines income by percentile? Florida real estate agents who are willing to hustle and earn their way into the top 90th percentile are making an impressive $125,200 on average.
But that’s not even the top. Depending on your area, you can make far more money. The top 90th percentile of Florida real estate agents serving the Naples-Immokalee-Marco Island area are making an average of $147,140 per year!
How do I maximize my real estate income?
Here are a few ways to get yourself into that 90th percentile:
Focus on luxury listings to make more money with fewer transactions.
Invest in a website and start building your online presence through blogging immediately after getting your license. Buyers and sellers find agents online, so you need to be easy to find.
Negotiate with your broker for a higher commission split.
Keep working! The 2020 Member Profile for the National Association of Realtors reported that the average American Realtor made $49,700 in 2019, but Realtors with over 16 years’ experience were averaging $86,500.
If you’re willing to invest the time and effort in building your real estate business, you can earn an exceptionally comfortable living. And it all starts with your Florida real estate license.
*This article was updated on 1/6/2021.