Updated: Dec 29, 2022
Real estate agents in Florida, like in any other state, are paid on a commission basis. This means that their income is based on the sale or rental of properties. The amount that real estate agents make can vary significantly, depending on a variety of factors such as the agent's experience, the location and type of properties they sell or rent, and the overall state of the real estate market.
According to the Bureau of Labor Statistics (BLS), the median annual wage for real estate brokers and sales agents in Florida was $50,470 in 2019. The lowest 10% of earners made less than $27,490 per year, while the highest 10% earned more than $93,420 per year.
There are several factors that can influence a real estate agent's earning potential in Florida. These include:
Experience: As with any career, experience can be a key factor in earning potential. Real estate agents who have been in the business for a longer period of time may have a larger network of clients and may be more successful at closing deals, leading to higher commissions.
Location: Real estate agents in areas with high demand for housing or commercial properties may have more opportunities to sell or rent properties and potentially earn higher commissions.
Type of properties: Real estate agents who specialize in high-end properties or commercial properties may be able to earn higher commissions due to the higher sale or rental prices of these properties.
Market conditions: The overall state of the real estate market can also impact a real estate agent's earning potential. In a strong market with high demand for properties, agents may be able to close more deals and potentially earn higher commissions.
It's important to note that real estate agents in Florida, like in other states, are generally responsible for covering their own expenses, such as marketing and advertising costs, office expenses, and professional development.
Brought to you by Palm Beach Commercial Division
Bureau of Labor Statistics: Real Estate Brokers and Sales Agents (https://www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm)
Salary.com: Real Estate Agent Salary in Florida (https://www.salary.com/research/salary/benchmark/real-estate-agent-salary/fl)