McKissock Learning has revealed a new guide of income statistics from licensed real estate professionals across the United States as a means of keeping track of trends, and highlighting the methods that are maximizing agents’ earning potential.
McKissock Learning is one of America’s top online real estate schools, and provides educational courses and professional development to hundreds of thousands of agents across the country every year.
In November 2021, the company reached out to thousands of licensed real estate agents and brokers to gain a better understanding of the specific strategies used to increase their earning potential.
Last year, the number of agents that participated was about half of the 9,000 participants in this year’s report. This way, the guide can show a much more accurate picture of what real estate agents are earning and how they’re making it possible.
Real estate income is actually on the rise, despite the many complications the industry has faced throughout the Covid-19 pandemic. 75% of real estate agents reported that they earned more in 2020 than they did in 2019, with an average income of $129,996 for full-time agents.
Another trend that’s helping the market continue to thrive is the fact that more agents are happy with the brokerage they’re a part of. Choosing the right brokerage is an essential part of being a successful agent.
84% of the agents surveyed stated that they were satisfied with their brokerage experience. Only 6% of participants said that they plan on switching brokerages within the next couple of years.
Specializing in a niche has also proven to be one of the keys to maximizing your earning potential. Last year’s report showed the same results, citing that agents who showed eco-friendly properties were able to gain an average income of $263,180.
92% of the participants reported that they feel very optimistic about their future in real estate, which is the highest percentage in the history of McKissock Learning’s reports.
Only 12% of agents said they planned on retiring within the next five years. Real estate allows agents to create their own schedules, to an extent, so it’s easier for certain agents to reduce the number of hours they work per week to best fit their lifestyle and income goals.
The report stated that obviously a reduction in hours could result in a reduction of income for agents, however, individuals can still earn a decent income as a part-time or semi-retired agent.
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at email@example.com.