Based on the latest survey, the median real estate broker salary in the US is around $55,705 per year, meaning $22.87 per hour. In Canada, the median annual pay for the same job is at C$65,573 ($52,904), while in the UK it can go as low as £18,055 ($24,321). In Australia, it goes up to AU$45,606 ($36,083) per year, while in New Zealand the median annual pay stands at around NZ$47,406 ($34,182).
In India and South Africa, the pays for the same job are the lowest, in India, the median annual pay is at Rs 616,736 ($9,436), while in South Africa it is around R200,000 ($15,021). Below, we will take a look at the main factors influencing the annual salary of real estate brokers.
How Much Does a Real Estate Broker Make per Year by State?
| Real Estate Broker Salary | US | Canada | UK | Australia | New Zealand | India | South Africa |
| Hourly Pay | $22.87 | C$31.52* ($25.43) | £8.00* ($10.78) | AU$20.40 ($16.14) | NZ$22.79* ($16.43) | Rs 296.507* ($4.54) | R96.15* ($7.22*) |
| Annual Pay | $55,705 | C$65,573 ($52,904) | £18,055 ($24,321) | AU$45,606 ($36,083) | NZ$47,406* ($34,182) | Rs 616,736
($9,436) |
R200,000 ($15,021) |
A (*) indicates that the hourly rate was not available and was extrapolated from the annual salary.
Real Estate Broker Salary Influencing Factors
The salary of a real estate broker varies depending on experience, location, and employer. While independent brokers can earn high incomes from commissions based on how many clients they have every month. The data we have gathered here havea as source Payscale, which offers the real estate broker median annual salary for the US, Canada, the correspondent for that being the real estate agent salary for the UK, Australia, New Zealand, India, and South Africa.
Source
1. Location
Real estate broker salary can go from C$38,783, up to C$137,117 per year in Canada, while the real estate agent salary can rise from £12,360 to £40,238 per year in the UK. Meanwhile, in India, same real estate agents make from Rs 273,692 to Rs 1,515,208 per year. With a rise from R48,322 to R595,976 per year in South Africa.
Real estate brokers working in Chicago, New York, and Los Angeles have the highest salaries. In these locations, the annual income ranges between $59,000 and $61,000. Also, the real estate broker salary in Tampa, Seattle, San Diego and Houston is between $49,000 and $55,000 per year. The lowest salaries are in Atlanta, Phoenix, and San Antonio where real estate brokers earn a median annual income ranging between $41,000 and $44,000.
How Much Does a Real Estate Broker Professional Make in the US?
| Real Estate Broker Salary USA | Per Year | Per Hour |
| Minimum | $26,979 | $11.63 |
| Maximum | $124,870 | $41.22 |
| Bonus/Tip | $53,829 | $25.87* |
| Overtime | No additional pay | No additional pay |
| Total Pay | $30,377 to $152,932 |
A (*) indicates that the hourly rate was not available and was extrapolated from the annual pay.
Below, we have prepared a table highlighting the annual real estate broker salary across the United States
| Arizona | $40,000 |
| Arkansas | $50,000 |
| California | $52,000 |
| Colorado | $43,000 |
| Connecticut | $56,000 |
| Delaware | $43,000 |
| District of Columbia | $61,000 |
| Florida | $46,000 |
| Georgia | $56,000 |
| Hawaii | $30,000 |
| Idaho | $32,000 |
| Illinois | $56,000 |
| Indiana | $47,000 |
| Iowa | $48,000 |
| Kansas | $45,000 |
| Kentucky | $42,000 |
| Louisiana | $44,000 |
| Maine | $43,000 |
| Maryland | $50,000 |
| Massachusetts | $59,000 |
| Michigan | $49,000 |
| Minnesota | $43,000 |
| Mississippi | $51,000 |
| Missouri | $48,000 |
| Montana | $41,000 |
| Nebraska | $36,000 |
| Nevada | $37,000 |
| New Hampshire | $48,000 |
| New Jersey | $53,000 |
| New Mexico | $43,000 |
| New York | $59,000 |
| North Carolina | $47,000 |
| North Dakota | $43,000 |
| Ohio | $47,000 |
| Oklahoma | $45,000 |
| Oregon | $47,000 |
| Pennsylvania | $47,000 |
| Puerto Rico | $47,000 |
| Rhode Island | $45,000 |
| South Carolina | $48,000 |
| South Dakota | $37,000 |
| Tennessee | $45,000 |
| Texas | $47,000 |
| Utah | $38,000 |
| Vermont | $43,000 |
| Virginia | $49,000 |
| Washington | $51,000 |
| West Virginia | $46,000 |
| Wisconsin | $44,000 |
| Wyoming | $40,000 |
| US Median | $55,705 |
| Hourly Wage | $22.87 |
How Much Does a Real Estate Broker Professional Make in Canada?
| Real Estate Broker Salary Canada | Per Year | Per Hour |
| Minimum | C$30,056 | C$14.45* |
| Maximum | C$102,953 | C$30.22* |
| Bonus/Tip | C$40,089 | C$19.27* |
| Overtime | No additional pay | No additional pay |
| Total Pay | C$38,783 to C$137,117 |
A (*) also indicates that the hourly rate was not available and was extrapolated from the annual pay.
How Much Does a Real Estate Agent Professional Make in the UK?
| Real Estate Agent Salary UK | Per Year | Per Hour |
| Minimum | £12,176 | £8.00 |
| Maximum | £32,431 | £15.59* |
| Bonus/Tip | £15,670 | £7.53* |
| Overtime | ~£20,800* | £10.00 |
| Total Pay | £12,360 to £40,238 |
A (*) indicates that the hourly rate was not available and was extrapolated from the annual pay.
How Much Does a Real Estate Agent Professional Make in Australia?
| Real Estate Agent Salary Australia | Per Year | Per Hour |
| Minimum | AU$31,868 | AU$15.36 |
| Maximum | AU$81,565 | AU$29.44 |
| Bonus/Tip | AU$50,335 | AU$24,19* |
| Overtime | No additional pay | AU$40.00 |
| Total Pay | AU$32,949 to AU$97,606 |
How Much Does a Real Estate Agent Professional Make in New Zealand?
| Real Estate Agent Salary New Zealand | Per Year | Per Hour |
| Minimum | NZ$41,181* | NZ$19,79* |
| Maximum | NZ$52,074* | NZ$25,03 |
| Bonus/Tip | NZ$6,280* | No additional pay |
| Overtime | No additional pay | No additional pay |
| Total Pay | NZ$40,870 to NZ$59,288 |
A (*) indicates that the hourly rate was not available and was extrapolated from salaries available, respectively from the annual pay.
How Much Does a Real Estate Agent Professional Make in India?
| Real Estate Agent Salary India | Per Year | Per Hour |
| Minimum | Rs 237,567 | Rs 114.214* |
| Maximum | Rs 1,515,208 | Rs 728.465* |
| Bonus/Tip | Rs 15,000 | Rs 7.211* |
| Overtime | No additional pay | No additional pay |
| Total Pay | Rs 273,692 to Rs 1,515,208 |
A (*) also indicates that the hourly rate was not available and was extrapolated from the annual pay.
How Much Does a Real Estate Agent Professional Make in South Africa?
| Real Estate Agent Salary South Africa | Per Year | Per Hour |
| Minimum | R42,282 | R20.32* |
| Maximum | R498,824 | R239.819* |
| Bonus/Tip | R64,341 | R30.93* |
| Overtime | No additional pay | No additional pay |
| Total Pay | R48,322 to R595,976 |
A (*) indicates that the hourly rate was not available and was extrapolated from the annual pay.
2. Experience
Experience is a key factor for people who pursue this career because one must have a comprehensive perspective of the real estate market in order to efficiently deliver the best services for their clients. According to PayScale statistics, in the US real estate brokers with 0-5 years of experience make around $49,500 per year. Furthermore, more experienced brokers with 5 to 15 years in this field can earn an annual salary of $65,000. Last but not least, real estate brokers with over 20 years of experience have annual incomes of around $73,000.
In Canada entry-level real estate brokers win around C$56,000, while more experienced professionals make about C$75,000 per year, only to rise in the late 20 years of career up until C$100,000 and more after that. In the UK there is also a descending rise in salary from ₤18,000 for beginners to ₤23,000 for mid-career professionals, with not such a big rise after 10-20 years in the field – ₤26,000, while a late career of more than 20 years on the job can get this professional ₤36,000 and rising. The situation is different in Australia, where the salary starts at AU$47,000, then rises at AU$64,000 per year in mid-career, remains the same after 10-20 years, then slowly starts to descend until it reaches AU$50,000 after 20 years on the job.
3. Industry
Some brokers work for financial institutions and real estate agencies such as SRS Real Estate Partners, HCM Force, and RKF. In this case, the real estate broker annual salary depends on the size of the financial institution for which they work.
- SRS Real Estate Partners offers a median pay of around $69,457 per year.
- HCM Force coming with the highest salaries, between $55,000 and $110,000 per year, according to Indeed.
- RFK being next, having some minimal salaries of $39,000, but going up to $186,000 per year.
Schedule & Working Hours
Real estate brokers generally work more than 40 hours per week, they work irregular hours because they have to meet with their clients in evenings or weekends, in various locations. Many brokers spend a lot of time networking and attending community events in order to meet potential clients. On the other hand, self-employed real estate brokers have a more flexible schedule. While some can work part time and also have another job in the meantime.
Bonuses & Benefits
A consistent part of real estate brokers are self-employed, so they work mainly on commission which can be as high as $115,000 per year. Besides the annual salary, real estate brokers from the US can also get annual bonuses up to $53,829 and profit sharing up to $5,000 per year from their employer.
The table below shows percents of the healthcare benefits by country. A (–) indicates that there is no health care information available.
| Country | United States | Canada | United Kingdom | Australia | New Zealand | India | South Africa |
| Medical | 42 | 34 | 19 | 9 | — | 17 | 13 |
| Dental | 27 | 28 | — | 6 | — | — | — |
| Vision | 24 | 25 | 4 | 4 | — | — | — |
| None | 57 | 66 | 77 | 89 | — | 83 | 87 |
Career Outlook
According to BLS statistics, the employment rate of real estate brokers will grow 2 percent from 2014 to 2024, slower than the average for all occupations. This is because the real estate marketing can never be constant, meaning that the employment of real estate brokers will always vary.
As the population grows, many people will want to own their own homes, making real estate a long-term investment, continuing to need new brokers and agents.
If interested in another job that implies the sale of services, and where there is a close relationship with the client as well, you can read more about the insurance agent salary.
Conclusion
Given the above, the real estate broker salary is quite motivating for people who prefer working on commission, bonuses, and profit sharing. Even if the future employment rate is not high, the real estate market will always need dedicated professionals to deliver the best services. People will always need to purchase homes, so the real estate broker job is sure to be around a long time from now.