According to the Bureau of Labor Statistics, the average income for Real Estate agents in the state of California is $73,450. California is one of the top earning states for Real Estate agents. Hard work is essential to high salaries, however. While the average represents a high number, the salary range for California Real Estate agents falls between $24,970 on the low end and $123,700 for top earners. In order to become a top earner, agents must commit time, energy, and money. Like any career, real estate agents who build a solid foundation of hard work will find the most success. The first few years are essential for real estate agents - it is important to lay groundwork with marketing and networking. Some first time agents may be discouraged when they see their cash flowing out more than in, but persistence will eventually pay off. After your first deal is closed and you’ve built a solid network, your sales will pick up as your experience grows. The most successful real estate agents are those that have been in the business for 10-20+ years as they have had time to learn the tricks of the trade. Once you’ve obtained your California real estate license, you’ve got a long road to success ahead of you. If you are persistent with hard work, marketing, and networking, you could become one of the top earners in the state, making 6+ figures annually. A career in real estate is an exciting opportunity to earn a substantial salary and grow as a well-rounded professional. Many real estate agents are self-motivated entrepreneurs that possess qualities such as honesty, integrity, and strong communication skills. If you have the drive for success and passion for great customer service, you can very easily become one of the top real estate agents in California.
How Much Can Top Real Estate Agents Make?
While the average real estate agent in California makes around $75,000, California is a very large state and the real estate market varies from area to area. Multi-million dollar homes in Los Angeles and other areas mean there are real estate agents making well above the average salary. Star real estate agents in the state of California can make millions annually. These agents need to average at least $50 million in sales annually with an average commission of 2%. While these numbers may seem out of reach, if you are a real estate agent in California your chances of multi-million dollar sales are higher than any other state. Becoming a rock star real estate agent depends on your skill, your location, and your connections. Agents practicing in areas like Los Angeles and Beverly Hills are more likely to earn higher sales. As a real estate agent in California, the dream of a lavish life is within reach. If you’re wondering how much the average real estate agent in California makes, you’ll be happy to know that the Golden State is one of the best places to practice real estate. While you may not become a multi-million dollar rockstar agent, the chances of earning $60,000 or more annually are higher in California than in many other states.
How Real Estate Commissions are Paid
One important thing to consider when pondering how much the average real estate agent in California makes is how real estate commissions are paid. A real estate agent’s salary depends on how many yearly transactions they make, the commission that is paid to the brokerage, and the commission split they make with their sponsoring broker. Agents that are new to the business typically start at a lower commission rate and earn more as they learn the business. Each location and brokerage will have varying commission splits and there may be additional fees that apply. New real estate agents can expect lower end commissions while those who have more experience can earn upwards of 70% of the sales commission. In order to earn a higher average salary, you will need to put in a few years of work as a real estate agent.
While there are many factors that influence your earnings, as a real estate agent you will never have a salary cap. Your earning abilities are determined by how hard you work, how much time you invest, and your passion for success. The opportunity of vast salary growth is close at hand as a California real estate agent. While you may have to start small, hardwork and drive can take you very far. If you’re wondering how to get into real estate in California so you can begin earning, you’ll need to first obtain a license. Mbition is your ultimate solution when it comes to breaking into the real estate market of California.
How to Get Into Real Estate in California
Anyone interested in a career in real estate in California must first meet a simple set of requirements. All candidates must be at least 18 years old, have proof of California residency, be free of any criminal convictions, and possess an honest character. If these requirements are met, 135 hours of education must be completed and a passing score earned on the real estate salesperson examination before candidates can apply for licensure. These requirements are set by the California Department of Real Estate. Mbition is a department approved resource for all of those seeking licensure. You can begin your education and prepare for your examination with various course options:
- California Real Estate Pre-licensing Silver Solution - The most basic package, the Silver Solution contains “Principles, Practices and Finance,” the state required 135 hour course; 3 different eBooks; instructor support, customer and technical support. This in-depth course provides all the essentials needed for a career in California real estate.
- California Real Estate Pre-licensing Gold Solution - The Gold Solution contains everything offered in the Silver Solution plus the following: the Mathmaster course; “California Real Estate Exam Prep,” a comprehensive, multi-material exam prep guide; and the guarantee of a passing score on your exam. This package is our most popular, and a must for those who want extra exam help.
- California Real Estate Pre-licensing Platinum Solution - The Platinum Solution, our premium package, is the most comprehensive real estate pre licensing education course available. Containing everything that is offered in the Gold Solution, this package also includes: the California exam prep eBook; three textbooks (Real Estate Principles, Real Estate Practice, and Real Estate Finance); and multiple exam prep materials like flashcards and test taking tips.
Don’t waste anymore time wondering how to get into real estate in California. Mbition provides everything you need to obtain your license and launch a successful career. Our courses prepare you with the professional skills and knowledge to become a successful real estate agent in California. All of the course packages were designed for flexibility and convenience - students can study online wherever, whenever. With Mbition, you can get a headstart in your real estate career. A strong foundation of professional knowledge plus persistent hard work can take you to the top. Start earning big today! Contact us to learn more about California state requirements and what packages or educational materials may benefit you.