How much do real estate agents make in Canada?
As you know being a real estate agent is commission based position. Most agents work independently and are self employed. The amount of money they can make depends on the brokerage they work with, the commissions they charge ,the total amount of transactions they do per year, minus their marketing expenses.
Also remember as this job is commission based, No sales equals no money. Here is a fact, many real estate agents, work part time jobs to supplement their incomes when sales dry up. And also you may end up listing a million dollar home for over 6 months and not even sell it or work with a buyer for several years without them buying anything.
And Yes this is not like the show million dollar listing, we have no stretch limo, we don’t work with multi million dollar clientele, plus we do not successfully negotiate a contract within a 60 minute tv episode. Thats fantasy versus reality.
In greater vancouver we have about 15,000 real estate agents, and on a month to month basis we have around 3000 sales. So that means 12,000 agents don’t get paid. So if you thinking that being a real estate agent is a very lucrative business you should re-think that idea. To make a living in real estate in greater vancouver you would need to do about 6 transactions per year. 6 Transactions a year is actually the average I would say. And given all of your expenses, splits with your brokerage you would be lucky to earn $45,000 net in your first year of real estate. Obviously I am being very conservative with my numbers, and if you are a total go getter it is possible for you to earn up to 1 million dollars per year in real estate. But as I said its fantasy versus realty. So there you have my observations on how much other real estate agents make in Canada.
Question of the day, would you consider a career in real estate? Yes or No Please leave it in the comments below. I will try my best to personally answer all comments myself.