You Can Make Almost Double the National Average as a REALTOR® in Tennessee
Having a career in real estate gives you the opportunity to have limitless earning potential, but it all comes down to how hard you work. Luckily, in Tennessee, agents earn well over the national average of all American job salaries, especially when working 40+ hours a week.
Nationally, agents that work around 60 hours a week will earn closer to $100,000 on average. Depending on these Tennessee real estate market factors, this number could be much higher.
- Average home sale price
- Average home square footage
- Market competition
- Hours worked
How Much Do Tennessee REALTORS® Make?
According to Indeed.com, the average salary for a Tennessee REALTOR® is $81,354. That wage is about 36% above the national average for all American job salaries! Now, other bureaus and agencies list different averages, but those statistics usually include part-time agents who are not spending the considerable hours it takes to make a large annual salary.
Real Estate Agent Commission Rates
Real estate agents’ pay mainly comes from the commissions they make on a property sale. Nearly half of a typical agent's earnings come from their commissions. One factor you’ll need to be cognizant of is the commission split between you and your real estate brokerage on the sales price. A traditional real estate commission between a broker and an agent is made up of sharing the gross commission amount that the brokerage will collect, which usually equates to a 50/50 split of the buying agent’s commission. This amount is agreed upon by the agent and their brokerage when negotiating their work contract.
If you’d like a full breakdown of a real estate agent's salary with a commission split, read our blog Salary For A Real Estate Agent Summary.
How to Get Your Tennessee Real Estate License
Becoming a licensed Tennessee real estate agent can seem overwhelming, especially when you consider everything involved with a career change, such as leaving your current job, providing for your family, and studying to pass your state and national exams. This is why we made our Pre-Licensing courses with the busy individual in mind. Our curriculum is catered to your needs, and is available for you whenever you need it.