Even with the COVID-19 pandemic, 6 million homes were sold in the USA across 2020, with the average home price up 5%.
And although the real estate sector – and the economy – will continue to face its struggles as the world moves past the worst of the coronavirus crisis, people will always need somewhere to live.
Perhaps you’re thinking about studying to work in the property sector and wondering about a realtor salary. If so, read on to learn about the average real estate agent salaries…
The Average Salary of a Realtor Explained
Based on new stats from the first quarter of 2021, the real estate agent average salary lands between $23,000 and $106,000 per annum in the US. This gives a median salary of $48,803 across the board.
There is a noticeable variation here between the two ends of the pay spectrum. This is explained by the fact that a realtor earns a commission. This commission is based on their sales as an independent contractor. If they don’t make a sale, they are not paid.
The commission usually lands at between 4-6% of the sales price. This means there is a wide range of earning potential based on where you are selling, what kinds of properties you’re working with, when you are selling, and to whom.
Factors such as your experience, qualifications, and reputation will also play a part here.
This also means that, as a realtor, you can set high goals for yourself and reap the rewards. There’s no reason you can’t aim for the top end of the salary spectrum if you want to. It’s largely down to the effort you put into your work – meaning your fate is in your hands.
The Average Real Estate Agent Salary in Massachusetts
Realtors in Massachusetts are among the highest earners in the property sector in the US.
In Boston, for example, the average real estate agent commission in Massachusetts is approximately $30,000. For instance, if a property sells for $457,192 – an average house price in Massachusetts – the realtor commission will be roughly $24,048.
This means a real estate agent salary MA comes in at an average base income of $83,978.
When a property is sold, there is a seller agent and a buyer agent. Both agents will be paid a percentage of the home’s final price when the deal goes through.
It tends to be that, in Massachusetts, the listing agent will earn a fraction more from this percentage than the buyer’s agent.
At the time of writing, Massachusettes is going strong in the property sector, with single-family home and condo prices at a record high.
With all the major shifts and changes the COVID-19 pandemic has forced upon the world, this particular corner of the market is doing very well.
Conclusion
If you’re looking at becoming a realtor in Massachusetts you can expect to reap the rewards based on the current average realtor salary in MA.
Now you know the average income of real estate agents, if you have any questions about getting your realtor license or the Massachusetts real estate course, please contact us. We can also help with real estate agent jobs.
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