88% of homebuyers in 2020 used a real estate agent to help purchase their home. If you want to get a real estate job, you need a real estate license. But once you get your license and start working, you’re probably wondering what your income is going to be.
So how much do real estate agents make in Austin, TX?
What Does a Real Estate Agent Do?
A real estate agent works with buyers and sellers to help sell homes, real estate, and properties. Real estate agents must have a real estate license to work with buying and selling properties. The real estate market in Austin is one of the hottest in the country. Real estate sales blew up, and house prices increased dramatically throughout 2020 and 2021. Successful agents in Austin keep up with the current real estate market trends in the area, including nearby San Antonio.
Real estate agents working with prospective buyers can help them find properties that interest them. Once they have a home, real estate agents can help with paperwork. Additionally, real estate professionals can help with other issues that may arise and ensure that everything goes smoothly.
In the same way, real estate agents work with sellers. They help advertise the home, show it to potential buyers, and answer any questions. They try to make everything run well and ensure the owners can sell the house to their satisfaction. Additionally, they earn a real estate commission on each real estate transaction.
Luxury and Residential vs. Commercial Real Estate
Many agents specialize in particular types of real estate. Some will go for residential real estate, which generally encompasses houses, apartments, condominiums, and other places where people live.
In residential real estate, you should find a niche that’s specific to what you’re interested in. For example, you might deal only with luxury homes and mansions. Or maybe you will decide to only deal with smaller family units.
Since real estate agents are paid on commission, your income may change a lot depending on what types of real estate you sell. You may expect to make more money if you sell only high-end real estate, but those listings are not as common.
Another significant type of real estate is commercial real estate. It runs much the same way as residential real estate. However, it is generally considered a more challenging position requiring more knowledge and research.
A commercial real estate agent can earn more on commission for selling commercial properties, but it is generally much tougher to sell commercial real estate than residential. However, experienced agents can make a decent living in the Austin area.
How Much Do Real Estate Agents Make in Austin, TX?
While estimates vary slightly, the most significant samples of real estate agents show an average real estate agent salary of around $90,000 per year. That’s a pretty decent wage! The real estate business can be pretty lucrative if you are skilled at finding potential clients and navigating negotiations with buyers.
The average income for newer real estate agents in Austin, Texas, is a little bit lower, hovering around $80,000 for people after 1-2 years working as a real estate agent. And people who have worked for six years or more tend to enter into the six-digit territory, making an average of $100,000 in Austin.
That means that if you’re starting your career in the real estate industry, you can probably expect to make a little less than $80,000 a year but will undoubtedly see your income climb as you get more experience, clients, and reputation to help your career grow. Austin is the fourth-largest city in Texas and is a bustling city with plenty of opportunities for real estate professionals.
Learn More About Real Estate!
If you’d like to learn more about real estate, we’d love to help! The Virtuance blog covers topics from homeowner tips to in-depth digital marketing guides for real estate professionals and licensed Realtors across the country. If you’re looking for help building a client base, tune in for Farm Friday every week, where Meaghan Loraas, our digital marketing expert, gives tips for finding more prospective clients, growing your business, and more!
