How Much Do Real Estate Agents Make in Georgia?
One of the first questions most people have when they’re considering a career in real estate is: How much money am I going to make? Of course, the answer varies depending on where you work, but there are some statistics that can give you a better idea of how much 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 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.
How Does That Measure Up?
While that may seem low compared to some other states, it’s actually right in line with the average annual salary for all occupations in Georgia ($48,280). It’s also pretty good considering that the median home price in Georgia was just $198,000 in Q3 of 2019, based on stats from ATTOM Data Solutions.
Another thing to consider is that the median household income in Georgia is $52,977. That means the average real estate agent makes almost as much as many two-income households in the state.
It Depends on Where You Are
Location within the state is a major factor in agent income. In the North Georgia nonmetropolitan area, the average agent salary is $68,770. But down south in Valdosta, the average annual income is $27,120.
If makes sense if you think about it: 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).
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, though there is a bill that may reduce the top tax bracket to 5.5% in 2020.
To give you a sense of how much taxes affect your take-home pay, if you are an average Georgia real estate agent making $50,450 a year (and you take the standard deduction), your annual take-home pay will be $38,850.
It’s All About Your Hustle
How much you earn as a Georgia real estate agent depends on your niche, the commission split with your broker, the size of your referral network and how much you hustle. 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? Here’s how to get your license in Georgia.