Real estate agent calculating commission
Have you ever wondered how much real estate agents in Kansas make? Well, the answer might surprise you! In this article, we will delve into the world of real estate commissions, average incomes, and the factors that can affect your earning potential in the industry. Whether you're just starting out or looking to take your real estate career to new heights, this article will provide valuable insights to help you succeed.
How much commission do real estate agents make in Kansas?
According to a survey conducted by Clever Real Estate, the average real estate commission rate in Kansas is 6%. This commission is typically split between the buyer's broker and the seller's broker. So, if you're considering a career in real estate, it's important to understand how this commission structure works.
How much do real estate agents make per sale in Kansas?
Real estate agent calculating commission
On average, real estate agents in Kansas make approximately $4,691.25 per sale. To put this into perspective, let's break down the calculation. According to RedFin, the median sale price of houses in Kansas is $312,750. Based on a 6% commission rate, the total commission generated from a sale would be $18,765. Assuming this commission is split equally between the brokers, each real estate brokerage would receive $9,382.5. For starter agents who often have a 50/50 commission split, the amount that ends up in their pocket would be $4,691.25.
It's important to note that as you gain experience and build your business, you can negotiate a higher commission rate with your broker. This is especially true if you have an effective business process and require less support.
Do real estate agents make more in residential or commercial markets?
Kansas real estate agents income distribution
When comparing the average annual incomes of residential and commercial real estate agents in Kansas, we find that commercial agents have a slightly higher average income ($69,385) compared to residential agents ($68,190). However, it's important to note that commercial agents also have wider earning gaps. Some commercial agents earn significantly more, while others may earn less. On the other hand, the income distribution among residential agents is more evenly spread.
So, whether you choose to specialize in residential or commercial real estate, it's essential to focus on building your expertise, establishing trust with clients, and continuously improving your skills.
Top 10 Highest Paying Cities for Real Estate Agents in Kansas
Source: ZipRecruiter (Oct 23, 2021)
According to RedFin, several cities in Kansas offer excellent earning potential for real estate agents. These cities include Kansas City, Overland Park, Shawnee, Olathe, and Lenexa. These areas have witnessed a significant increase in sales prices and are often highly competitive, with multiple offers on properties and frequently waived contingencies.
How much do residential and commercial real estate agents make in Kansas?
Residential real estate agents in Kansas earn an average yearly income of $68,190, with top earners making as much as $92,513 per year. On the other hand, commercial real estate agents earn an average annual income of $59,673, with top earners reaching as high as $138,770 per year.
While the numbers may vary, both residential and commercial real estate markets offer substantial income potential. The key is to find your niche, build your network, and continuously strive for growth.
Discover the Secrets to Real Estate Success in Kansas
Commercial real estate agent talking on the phone about the earning potential
Becoming a successful real estate agent in Kansas involves more than just earning potential. Factors such as education, time invested, and various other variables can significantly impact your income. If you want to learn more about these factors and unlock the secrets to success in the Kansas real estate market, check out our "Real Agent Income Guide."
Explore the Exciting Opportunities in Kansas Real Estate
Are you interested in pursuing a career in real estate? We've got you covered! Our "Kansas Real Estate Career Series" provides valuable insights into the industry. Learn how to obtain a real estate license in Kansas, master the Kansas real estate exam, and discover practical career tips to help you excel. Whether you're a seasoned professional or just starting out, our series will equip you with the knowledge you need to thrive.
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Disclaimer: The information provided in this post is for general informational purposes only and should not be construed as professional advice. The content is subject to change without notice and may not be error-free. The views and opinions expressed in this article are those of individuals not related to JCHQ Publishing and do not necessarily reflect our view or position.
References:
- ZipRecruiter
- Bureau of Labor Statistics - Real Estate Agents
- Clever - What's the Average Kansas Real Estate Commission in 2021
- RedFin - Kansas Housing Market
