The highest earning real estate agents in America are loyal to their firms, but cite better technology, more support staff and a more fitting culture as the biggest reasons to switch, according to a national survey released yesterday by Inman, whereas low income agents seek better commission splits. Then again, the survey found that high grossing agents are already enjoying friendlier splits.
Among agents earning $100,000 or more, 26.5 percent keep their entire commission, and more than one-third of agents making at least $200,000 keep their entire commission. On the other hand, the most common split among agents who earn between $30,000 and $50,000 was 70/30, and just 12.4 percent reported a 100 percent split.
The findings are based on 1,368 responses, which were divided into five groups based on reported income. The National Association of Realtors recently found that the median income of its members was $34,100, with 17 percent earning six figures or more.
Among the Inman survey’s other findings: higher income agents closed more sales, worked longer hours and dealt with pricier properties. Two-thirds of agents who made $100,000 or more closed at least 20 transactions, and 40 percent of agents earning $200,000 or more closed 50 deals. More than two-fifths of agents who earned $30,000 to $50,000 worked 20 to 40 hours in a given week, while more than half of agents who earned $200,000 worked more than 50 hours per week.
Other common themes among high-income agents, include spending more on marketing and technology (with a significant preference for Apple products) and more proficient use of social media. — Adam Fusfeld