Meet John Tallarigo. John is the education content developer and is working on expanding PREC coursework into new states and additional courses for our current states. His interest in property law led him to get his real estate license while studying for the bar exam! John is a graduate of NKU Chase College of Law '16 and earned his undergraduate degree from Northern Kentucky University '11. He loves the Cincinnati Bengals!
How Much Do Real Estate Agents Make in Virginia?๏ปฟ
“What do I want to do with my life?” That is a question we have all asked ourselves. Some of us find the answer early in our lives, while some of us have this question ever-present in the back of our minds, much like a fruit fly buzzing around overly ripe fruit. If you’ve ever found yourself considering this question, perhaps you’ve thought, “Maybe I could sell real estate”.
Today we will focus on real estate agents in Virginia, how much they make, and what factors to consider when thinking about a real estate agent’s salary. But before we get started, I want to note that while the term “real estate agent” is commonly used across the country, in Virginia the terms “salesperson,” “broker” and “realtor” refers to a real estate professional.
According to the U.S. Bureau of Labor Statistics, the average pay for a sales agent in Virginia is $69,630. This is lower than the reported average from ZipRecruiter ($92,296) and Indeed ($100,167), and it is much higher than Salary.com ($46,600).
When considering the salary of a sales agent, there are many factors that you should examine. For example, the cities and towns you work in, and their corresponding population determine how many opportunities you will have. Other things to consider are the number of years of experience you have, how much education you have, and how many hours you wish to work; more of each of these could give you a nice boost in pay!
Hours Worked
Balance is a keyword for salespeople! Your schedule will be dictated by how busy you are and how many showings you have that day or week. My advice is to set boundaries with your clients and have a set time of the day when you do your showings. For example, you could do all your administrative and business prospecting activities in the morning and set showings for afternoons and weekends. This will keep you from missing those activities that really make a difference in your business. Another note worth mentioning is part-time vs. full-time. While full-time might not be an option for everyone it directly correlates to an agent’s salary.
Location
Location has a major effect on the salary of an agent. If you want to earn more, try going for urban areas that are highly populated and suburban areas with higher prices per home. If you work in a small town, typically the population is small, resulting in less real estate to buy and sell, however, there might be less competition with other real estate professionals in this scenario. When working in a larger city, you will have much more real estate available to buy and sell, but you may have more competition with other professionals in the area.
Specialty
Just like any other business, the niche or specialty is going to decide what kind of real estate agent you are going to be. Some examples might be first-time homebuyers, military, relocation services, luxury properties, etc. Each one is going to bring in a different income but owning the category you chose is where the success is. Your goal is to become the market expert in that specialty or niche.
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Years of Experience
Real estate is a business where knowing people or being top of mind is very important. Creating a sphere of influence and connecting with that audience is crucial to creating business for yourself as an agent. Visit our blog Business Networking with Other Real Estate Agents to hear how one professional worked her way up from the bottom to become a successful sales agent. Networking becomes easier and grows with time and experience. Therefore, the first year in real estate is always the hardest but stick with it and trust the systems that you have set in place!
Being a sales agent can be a fulfilling, mentally stimulating career that offers great opportunities to grow and of course, we can’t forget about the possibility of a flexible schedule! If you think this is the career path for you, make sure to check out our website which has a helpful Beginner’s Guide. Once you are ready to begin your journey check out our blog Helpful Things You Can Do Before You Have Your Real Estate License. Now that you’re ready to start your new career as a sales agent in Virginia, here’s how you get your sales agent license!
Meet John!
Recent Posts
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