In this article, I will share with you the basic, average, and expert salary for a real estate agent in the world, country-wise. So you can guess how much you can make in your particular area.
Research by Salary Experts says the average salary for a real estate agent will cross over $93,006 in 2027, and the expert will earn more than today, which is $106,078 in 2022. Some agents will make millions of dollars every year by selling homes. This means the future is bright for those who want to build a career here.
Table of Contents
- Salary for a Real Estate Agent in the World
- How Much Does a Real Estate Agent Earn?
- Real Estate Agent vs Broker
- Do you Need a College Degree?
- Educational Qualification of Agents
- How Much Will You Earn as a Part-Time Agent?
- How to Get a Real Estate License?
- Salary for A Real Estate Agent in Every Country
Salary for a Real Estate Agent in the World
Before we begin, I want you to know that a lot of things can make an impact on the salary of a real estate agent, and those are as follows:
- The current market condition
- Demand and supply
- Property prices hike
- New developments
- Market Trend
- The average cost for an employee
- Qualification of the agent
All of these will make a huge impact on the salary you will receive as an agent, as it did during the pandemic.
During that time, real estate agents lost their jobs, brokers were not able to sell homes, and people were afraid to take their first step in becoming real estate agents. But now the market is improving rapidly.
First, we will talk about the basics of becoming a real estate agent. The license requirements, commission, and required educational qualifications will discuss the salary for a real estate agent country-wise. So let’s begin.
How Much Does a Real Estate Agent Earn?
The salary for a real estate agent is commission-based most of the time. You, as an agent, will work with a brokerage firm and earn some commission from a deal your company does, or they will give you a fixed salary to work for them.
The commission varies in every country. It is 1% -2% of the total property value, but sometimes it can go up to 5%. If we take it as 2%, that means if you sell a $1 Million house, you will earn $20,000 as your commission. Is not that good money?
But always take a written paper from your clients like a legal agreement that they will give you 2% as a commission if you sell their homes or any property they want.
A lot of clients scam their agents. After the deal is done they skip the commission, as promised earlier. If you have a legal document for it then they have to pay. The real estate law will take care of that.
Also, read the ten best real estate jobs.
Real Estate Agent vs Broker
You may be thinking that an agent and a broker are the same. No, it is not. An agent means you are working for a company or working alone, and a broker manages a brokerage firm where agents work as an employee.
- Agent – Single
- Broker – A company
Dont miss it up. It’s totally different.
Do you Need a College Degree?
No, it is not required. You don’t need a degree to become an agent. Anyone can become an agent with a simple real estate license. But in some countries, the Govt. asks for a minimum high school pass qualification. But, in some, you need to be a graduate to become a real estate agent.
But if you are looking for a job, then a degree will help you a lot as most companies are looking for the best man for the company who can pull every deal with focus. That is why you might need a degree. But if you want to start your brokerage firm, you might not need it.
I am giving you a list of people from around the world and their qualification status in this industry.
Educational Qualification of Agents
Research says most successful real estate agents are not that educated. But they are making good money. Here is the list you can check education qualifications for real estate agents around the world.
- Less Than HS 0%
- High School 50%
- Associate 8%
- Bachelor 35%
- Master 5%
- Doctorate 2%
You can see here more than 50% of real estate agents are High School passed. That means anyone can become an agent in any country in the world.
Read: richest real estate agents around the world
How Much Will You Earn as a Part-Time Agent?
Many people want to do this business as part-timers. They have a job but want to earn more money by doing it part-time. These guys can make up to $25,000 a year by becoming part-time agents.
But my friend, when you see improvement, I would suggest you resign from your job and do it full time. It will help you build an empire and possibly financial freedom.
How to Get a Real Estate License?
Now the main question is how to get a license. As in every country, you need a real estate license to operate in the industry.
You can apply for a license online or offline, like the traditional way. You need to take a course for the licensing exam. Pass it with 60+ marks, and pay about $320 as a fee. You will have your real estate agent license in 3 months.
It will be valid for five years. Renew it every five years. Otherwise, you will lose the legal protection the license will give you. Visit your state license website and apply with the required documents.
Salary for A Real Estate Agent in Every Country
The below list contains the average salary for a real estate agent (1-3 years of experience) in every country where real estate is popular. But the experts (8+ years of experience) will earn way more money than this (Data by salaryexpert.com).
|Country Wise||Beginner Agent||Intermediate Agent||Expert Agent|
|United Arab Emirates||138,302 (Dirham)||243,305 (Dirham)||310,932 (Dirham) |
|Saudi Arabia||32,783 (Riyal)||95,027 (Riyal)||213,640 (Riyal)|
|France||32 168 €||56 905 €||72 321 €|
|Germany||36.711 €||64.903 €||82.534 €|
|Israel||105,997 ₪||187,343 ₪||238,303 ₪|
|Italy||28.133 €||49.781 €||63.249 €|
|Iraq||15,702,180 (Dinar)||27,623,647 (Dinar)||35,301,663 (Dinar)|
|Indonesia||Rp 172.103.142||Rp 300.425.664||Rp 386.922.532|
|Morocco||106.683 (Dirham)||187.891 (Dirham)||239.846 (Dirham)|
|Netherlands||€ 35.514||€ 62.824||€ 79.844|
|Pakistan||PKR 993,771||PKR 1,728,733||PKR 2,234,197|
|Russia||667 873 (Ruble)||1 501 513 (Ruble)||1 168 170 (Ruble)|
|Portugal||20 413 €||36 178 €||45 893 €|
|Spain||26.299 €||46.579 €||59.126 €|
|Switzerland||CHF 52’596||CHF 93’246||CHF 118’247|
|South Africa||ZAR 280,158||ZAR 491,076||ZAR 629,852|
I have listed top countries in the world where the salary for a real estate agent is good. If you can’t find your country in the above list, you can search for it here on the Salary expert website.
Please note: All these pieces of information are taken from various internet sources. With time and market conditions, the average salary for a real estate agent will change. Dont take it for granted. Do your research.
So here is your complete information on salary for real estate in the world. I hope now you know, every related detail about an agent’s basic, average, and expert salaries in every country in the world and what you need to do to get a job. Good luck. See you soon.