Meet Hannah McArdle. Hannah has a background in child development, elementary education, and instructional design. She attended Eastern Kentucky University, earning a Bachelor of Science in Elementary Education. She went on to work with children in a variety of capacities as she pursued her Master of Education in Learning and Technology.
What is the Average Realtor Salary for in Indiana?
โWhat do I want to do with my life?โ That is a question we have all asked ourselves. Some of us find the answer early in our life, while some of us have this question ever-present in the back of our mind, much like a fruit fly buzzing around overly ripe fruit. If youโve ever found yourself considering this question, perhaps youโve thought โmaybe I could sell real estateโ. Today we will focus on real estate agents in Indiana, how much they make, and what factors to consider when thinking about a real estate agentโs salary. But before we get started, I want to note that while the term โreal estate agentsโ is commonly used across the country, in Indiana the term โbrokerโ refers to a real estate professional.
According to the surveys presented by Indeed, the average salary for a real estate agent in Indiana was $92,313.
The average salary for an realtor with 1 to 2 years of experience is $81,441. The average salary for someone with more than 10 years of experience is $101,464.
Letโs break down the four topics that impact agentโs pay besides market conditions: hours worked, location, specialty, and years of experience.
Hours Worked
Balance is a keyword for brokers! 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 agentโs 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 ect. 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.
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 broker. 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 broker can be a fulfilling, mentally stimulating career that offers great opportunities to grow and of course, we canโt 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 Beginnerโs 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.๏ปฟ
About the Author, Hannah M.
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