USAToday on the life of a Realtor
USA Today had a recent article, Housing slowdown smacks Realtors hard, full of interesting tidbits:
- Realtors with two years’ experience or less earned a median income of just $15,300 last year, according to the National Association of Realtors. After taxes, association fees and marketing costs, they pocketed a mere $9,400.
- The broker gets the commission check from the seller, then splits it with the agent, who’s an independent contractor. It’s common for new agents to take home just 50% of their commission. More senior producers might pocket 70%.
- 93% of agents must find their own health insurance elsewhere, usually through a working spouse.
- Nearly 60% of Realtors are women, and many people imagine that the flexible hours make real estate an ideal job for mothers. But that’s hardly true when the market dries up.
- In fact, 15% of all Realtors worked more than 60 hours a week last year, according to the NAR.
- Here’s the payoff: Realtors nationwide who stick with it for six to 15 years earn a median income of $64,600. Those with 16 or more years’ experience bring in a median of $76,200, according to the NAR.
Redfin isn’t just trying to provide a great website and a rebate on real estate commissions but we’re also changing the nature of the job for the agents themselves. Consider some of the Redfin benefits:
- Salary
- Health, dental and vision benfits
- Paid vacation
- Bonuses based on customer satisfaction
Interested in finding out more about working at Redfin? Don’t hesitate to e-mail me: matt.goyer *at* redfin.com.