Bonnie is licensed in both Ohio and Kentucky, specializing in residential, commercial, estate sales, and investment portfolios. Bonnie won the Best Of Zillow award for her customer reviews and sales in 2020. She also won Rookie Of The Year and Top Earner award for Ken Perry Realty in 2020. She is a proud member of the Cincinnati Area Board of Realtors Arbitration and Grievance Committee.
How Much Money Will I Make as a Real Estate Agent in Missouri?
Have you ever considered getting your real estate license in Missouri?
Youโre great with people. You admire the architecture and home aesthetics. Every show on HGTV is your favorite show! Why not live your dream by becoming a licensed real estate agent in the sizzling hot Missouri market? But wait. How do I get my real estate license in Missouri? Where do I even begin? You have come to the right place. Our Career Corner is your agent destination for all things real estate. Whether you are just thinking about becoming a real estate agent or are new to the business, we have valuable resources to keep you informed. Use these tools throughout your real estate career journey to gain knowledge in the ever-changing, fast-paced world of real estate.
But how much money will you make? This is an important consideration when starting down any new career path. It is especially important in real estate because you are technically not an employee. You are considered an independent contractor. You will no longer receive an hourly wage or yearly salary. There is no โdraw.โ You will earn your income by real estate commissions. You will have to budget and set aside taxes. The upside is many of the things you use every day can be written off on your taxes. It is wise to speak with a professional accountant to better understand your options.
Now back to the money. What does the average real estate agent in Missouri make? Well, we can start there but keep in mind, youโre not average! The sky is the limit and the real estate industry is one of infinite income potential. It truly is what you make of it. If you put in the hours, make the calls, go to the networking events and actively market yourself, you will be rewarded. Handsomely.
According to the surveys presented by Indeed, the average salary for a real estate agent in Missouri in 2022 was $96,065.
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The average salary for an realtor with 1 to 2 years of experience is $84,751. The average salary for someone with more than 10 years of experience is $105,587.
If you are currently a stay-at-home mom or dad, entering the real estate industry can be a life-changing experience in the ways of added income, savings, and retirement planning. Perhaps you want to finish your basement or build an addition to your home. After all, watching all of those HGTV shows certainly provides a lot of inspiration and creative ideas. What about sending your kids to college? This new career path could be the answer you are looking for, for both you and your loved ones. The first 20% of the tier makes about $25,000 per year which is still a nice income and typical of an agent who only works part-time.
If you already have a day job but are considering getting your real estate license as a means for a 2nd stream of income, this would be a good estimate of what you would be making. Most of your clients will also be working a 9-5 job. They will want to see homes after 5 pm and on weekends. This is when you will put on your superhero of real estate cape and get to work! The top tier of earners makes $86,000 per year. This illustrates agents that go above and beyond the call of duty. They work diligently for their clients and market themselves aggressively. It may also indicate that they work for a real estate brokerage that offers residuals.
This structure is very appealing to agents because you will receive a portion of any agentโs earnings that you recruit. This is very desirable for agents who would like to earn a passive income and plan for retirement. Even if you are no longer selling real estate, as long as the agents you recruit are still active in the market, you will receive residuals from their sales.
Source: CareerExployer
Missouri Realtorsยฎ published Aprilโs stats for this year and they were over the top! Sales have increased by nearly 27% from last year. Sale price up almost 17% as well.
Source: Missouri Realtorsยฎ
Have you convinced that becoming a real estate agent in Missouri is a smart move? If you answered yes, the next question is where do you want to sell houses in Missouri? Go where the market is hot! Many Missouri suburbs are experiencing unprecedented growth and market activity. The data experts at Niche ranked the top places to live in Missouri. They included suburbs like Ballwin, Richmond Heights, and Crestwood. When you begin your new career as a real estate professional in Missouri, you must stay up to date on market trends and what is happening in each neighborhood. Watch the news, follow local reporters on social media and become the local real estate expert. When you show homes and inform your clients that a new school is being built or that a Starbucks is going in down the street, they will see your value.
Real estate is not only your new field of knowledge but also your new field of study. Study daily! 2,414,521 properties in Missouri could be your first sale. You have a lot of options! If you want your career to grow, choose an area that you are familiar with, comfortable with, and know a lot about. You will become the go-to agent of that neighborhood and your brand will continue to grow. Follow the golden rule of real estate and treat clients like you would want to be treated. You will not only gain referrals but more importantly, respect and recognition for being an exemplary agent in your area.
If you would like to get your real estate license in Missouri, check out our online courses here. If you wondering how-to get a license in Missouri click here for our simple step-by-step guide.
About the Author
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