How much do real estate agents make in GA? Real estate agents in Georgia can earn various incomes depending on their experience, location, and the number of transactions they complete. According to the Bureau of Labor Statistics, the median annual wage for real estate agents in Georgia was $51,730 in May 2020. However, it is important to note that top-performing agents can earn significantly more than this amount through commissions and bonuses.
How Much Do Real Estate Agents Make in GA?
If you’re considering becoming a real estate agent, you might wonder how much you can expect to earn. In general, real estate agents in Georgia make a commission on each sale they make. The commission depends on the home’s price and the sale terms, but it typically ranges from 3% to 6% of the sale price.
If you sell a $300,000 home, you could earn a commission of $9,000 to $18,000. Of course, this is just a rough estimate, and your actual earnings will depend on several factors, including the number of homes you sell, the prices of the homes, and the terms of the sale.
If you’re starting as a real estate agent, you may not make as much as experienced agents. But, with time and experience, you can earn a good income as a real estate agent in Georgia.
The Average Salary of a Real Estate Agent in Georgia
In Georgia, a real estate agent makes an average of $48,000 annually. This depends on several things, like how many years of experience they have, how big their company is, where they are, and what kind of real estate agent they are. For Example, let’s look at the average salary of a real estate agent according to the above-given factors.
- The average salary for a real estate agent with 1-3 years of experience is $39,000. The average salary for a real estate agent with 4-6 years of experience is $48,000. The average salary for a real estate agent with 7–9 years of experience is $54,000. The average salary for a real estate agent with 10 years or more of experience is $60,000.
- The company’s size also affects the average salary of a real estate agent in GA. The average salary for a real estate agent working for a small company is $43,000. The average salary for a real estate agent working for a medium-sized company is $49,000. The average salary for a real estate agent working for a large company is $54,000.
- The location also affects the average salary of a real estate agent in GA. The average salary for a real estate agent in Atlanta is $52,000. The average salary for a real estate agent in Augusta is $48,000. The average salary for a real estate agent in Savannah is $49,000.
- The type of real estate agent also affects the average salary of a real estate agent in GA. The average salary for a residential real estate agent is $48,000. The average salary for a commercial real estate agent is $54,000. The average salary for an industrial real estate agent is $60,000.
The Different Factors That Affect Real Estate Agents’ Salaries in GA
Some different factors can affect how much money a real estate agent in Georgia makes. Here are four of the most important ones:
1. The Size of the Real Estate Firm
The size of the real estate firm an agent works for can greatly impact their salary. Generally speaking, the larger the firm, the higher the salary. This is because larger firms tend to have more resources and can afford to pay their agents more.
2. The Location of the Firm
The location of the firm can also affect an agent’s salary. Firms in more expensive areas, such as Atlanta, will typically pay their agents more than those in less expensive areas. This is because agents in more expensive areas have to deal with higher living costs and thus must be paid more to make the same amount of money.
3. The Type of Property Sold
The type of property that an agent sells can also affect their salary. Agents who sell more expensive properties, such as luxury homes, will typically make more money than agents who sell less expensive properties, such as condos. This is because more expensive properties tend to take longer to sell and thus require more work from the agent.
4. The Agent’s Experience Level
Finally, the agent’s experience level can also affect their salary. Agents in the business for a long time will typically make more money than those just starting. This is because experienced agents are more likely to close deals and thus earn more commission.
How to Become a Real Estate Agent in GA
You must first complete a 75-hour pre-license course approved by the Georgia Real Estate Commission (GREC) to become a licensed real estate agent in Georgia. Once you have completed the course, you must pass the state real estate exam. After passing the exam, you must submit a fingerprint-based background check to Georgia.
Real Estate Commission
The Georgia Real Estate Commission (GREC) has approved a 75-hour pre-license course to become a licensed real estate agent in Georgia. These courses cover various real estate-related topics and are available from various schools and organizations.
Some of the topics that you can expect to learn about in a pre-license course include:
- Real estate law
- Property ownership and rights
- Brokerage relationships
- Contracts
- Fair housing
- Agency
- Ethics
- Property valuation
- Financing
- Closing real estate transactions
After completing a pre-license course, you must pass the state real estate exam. PSI Services, LLC administers this exam, and you will need to register for the exam in advance. The exam consists of two parts: a national portion and a state-specific portion. You must pass both parts of the exam to become licensed.
Once you have passed the state real estate exam, you must submit a fingerprint-based background check to the Georgia Real Estate Commission. A background check is required to ensure that you are of good moral character and have not been convicted of felonies.
After completing all of the above steps, you will be issued a real estate license by the Georgia Real Estate Commission. Once you have your license, you will be able to start working as a real estate agent in the state of Georgia. Suppose you want to learn more about generating leads and building a successful real estate business. In that case, you can learn how to generate leads as a new agent for valuable information and advice.
Final Thoughts
The real estate market in Georgia offers numerous opportunities for aspiring agents to earn a substantial living. Although real estate agents in Georgia earn an average of $48,000 per year, it’s important to note that this amount can vary greatly based on factors such as experience, location, the type of property sold, and the size of the firm they work for.
Additionally, successful agents often have a strong network of clients and are skilled at negotiating deals, which can significantly increase their earnings potential. It’s also worth considering that real estate is a commission-based industry, so an agent’s income is directly tied to their sales performance. Therefore, it’s crucial for aspiring agents to not only develop their sales skills but also to continuously build and maintain relationships with clients to maximize their earning potential.