If you’re considering getting your Georgia real estate license, you probably have several questions. Like how much does it cost to get a Georgia license? What can I do with a real estate license? And, as we’ll answer in this article, how much do real estate agents make in Georgia?
Average Salary for Real Estate Agents in Georgia
According to the Bureau of Labor Statistics data from May of 2020, the mean annual wage for a Georgia sales agent is a respectable $69,150. That works out to be $33.24 per hour for full-time agents.
How Does That Measure Up?
Nationwide, the mean annual wage for real estate agents in May 2020 came to $59,210 ($28.47 per hour for full-time agents), meaning that Georgia agents make well above the national average. And when you consider that the cost of living is less in Georgia than in most of the U.S., you find that every dollar of your income goes further in Georgia, giving you an added financial boost.
Georgia is actually the single best-paying state for real estate agents in the entire South. For comparison’s sake, here’s a look at the surrounding states’ averages:
- Alabama: $52,990
- Florida: $61,120
- North Carolina: $52,800
- South Carolina: $45,550
- Tennessee: $48,840
How Much Can Georgia Agents Make?
Location within the state is a major factor in agent income. In the North Georgia nonmetropolitan area, the average agent salary is $76,740, while in the Columbus area, the salary is $36,230. This makes perfect sense; since agents work on a percentage commission, their compensation will vary with home prices. More expensive housing markets will be more lucrative for agents (but also more expensive to live in).
Now, what if you work your way to the top of the pack? What if you invest the time in your business and learn the skills to excel beyond your peers? If you make it to the top 90th percentile, you can be making over $104,000 per year (the 2020 average for the top 10% of earners in GA).
How Georgia Taxes Factor Into Agent Salary
Taxes will also affect your income no matter what profession you choose. Georgia is one of the many states that charge a state income tax in addition to the federal income taxes everyone must pay.
Georgia’s income tax varies from 1% to 5.75%, depending on how much money you earn. As a real estate agent, you need to budget for this expense and set aside money from each of your transactions to submit with your quarterly income tax payments.
How to Boost Your Real Estate Income
Here are a few ways to break into the top tier of elite Georgia real estate agents:
- Build your skills. Once you have your real estate license, invest in a training course that will teach you how to grow your real estate business.
- Focus on the luxury market. You’ll earn more money per sale with these high-value transactions.
- Build your online presence early to establish credibility. Invest in a website and post to social media consistently for free marketing.
- Negotiate a higher commission split. Your broker will get a substantial cut of each of your sales. If you negotiate a high cut for yourself, you keep more of your earnings and boost your income.
How much you earn as a Georgia real estate agent depends on your skills, your niche, the commission split with your broker, your hustle, and your grit. At the end of the day, you’re largely in control of your income. So get out there and start generating leads!
Ready to change careers? Learn more about getting your Georgia real estate license.