Most Lubbock area Realtors enjoy a respectable income.
The exact salary amounts are difficult to pinpoint because Realtor income is typically 100% commission-based. Your earnings are directly tied to your sales. If you only want to work 20 hours per week, you probably won’t be able to close as many sales (or earn as much) as a full-timer. But if you work smart and hard, the sky’s the limit!
And that’s the best thing about a career in real estate: you’re in control. You decide how long and how hard you’re willing to work to create a lifestyle that makes you happy.
Having said all that, you probably still want to look at some average Realtor incomes. The Lubbock area averages will help you set realistic income goals.
In this post, we’ll discuss: how much the average Lubbock area Realtor makes how much you could make with your Realtor license in Lubbock * how to increase your potential income
How much do Lubbock Realtors make on average?
The National Association of Realtors® (NAR) reported that the median gross income for all Realtors was $39,200 in 2015. But when the Bureau of Labor Statistics analyzed Lubbock real estate agents in 2017, they found that the mean wage was $46,660 !
$46,660 is a reasonable income, especially when you consider that no degree is needed to get your Texas Realtor license. Even so, this figure may actually be on the low end of what you can expect as a Lubbock area Realtor. Keep in mind many agents choose real estate because they have the option to work part-time. These part-time incomes naturally drag down the industry averages.
Additionally, many agents in the Lubbock area are fairly new to the business, having just earned their Realtor license within the last year or two. It takes time (usually 1-2 years) to position yourself as a credible Realtor and to fill your pipeline with qualified buyers and sellers.
The good news is that your income will likely climb every year after that initial phase. The same NAR report that shows a median of $39,200 for all Realtors shows a median of $73,400 for agents who have been in business for over 16 years. So stick with it!
How much could Lubbock Realtors make?
The Bureau of Labor Statistics published the following chart to provide more information on real estate agents’ salaries across the country.
Take a look at the Lubbock area figures. The agents in the 10th percentile are likely new agents, working to build their business. And you’ll have many part-timers in the 25th percentile. But by the time you get to the 75th percentile, you could be making nearly $60,000 per year. And in the 90th percentile, you’re making nearly $80,000!
How do I maximize my Realtor income?
Here are a few ways to boost your Realtor income: Negotiate for a higher commission split. Focus on the luxury markets. * Invest in a website and blog as soon as you get your Realtor license. A website provides instant credibility to new agents. And blogging consistently will drive buyers and sellers to your site.
Remember: there is no limit to the income you can make in real estate! And it all starts with your Realtor license.
Your career is waiting; find your pre-license course today.
Image Sources: Bureau of Labor Statistics