How much do brokers make per year
What Real Estate Agents Earn
Real estate agents broker properties, houses, condominiums and commercial and office buildings for sale, rent and lease without purchasing property. They advise interested parties, accompany them during the viewing and prepare contracts. The working hours can be individually designed, especially for inspections, there are usually few specifications on the part of the employer.
Many activities take place in the background. This primarily includes the preparation of the property, such as determining the construction class and determining the official permits, the illustration of the construction plans or the marketing of the property on the Internet, in real estate exchanges, newspapers or locally on advertising boards.
It can take a while, ...
Brokers carry a high economic risk because they are liable for the correctness of their statements and work for their customers free of charge until a successful deal has been concluded. Some apartments are not sold at all or only after many months and countless viewing appointments due to excessive asking prices. Additionally, buyers who short-circuit with the seller in order to bypass the commission pose a commercial risk to the broker.
Communicative sales skills are required for success as a broker. Good knowledge of human nature and a high level of sociability are essential in order to develop a feeling for the needs and motives of potential buyers and to quickly recognize when dealing with customers whether they are seriously interested in an object on offer. At the same time, a certain tenacity and confidence is important.
It can sometimes take years for a broker to do well. Depending on the level of training, there can be large differences in the starting salary: After an apprenticeship as a real estate agent, the gross salary is between 16,900 and 19,000 euros per year, with a university or technical college degree between 26,300 and 29,200 euros gross. There are also alternative training paths, for example through the real estate association ÖVI. In order to become self-employed, a fee-based broker examination must be taken, which costs 2,550 euros on the wifi, for example.
In the professional field, the payment fluctuates strongly with the performance of the broker. Basically, in most real estate agencies, the rule applies that 20 to 50 percent of the commission goes to the employed broker as a success-related salary component. In addition, there are other billing models such as the 80/20 system of franchise networks, in which the broker receives 80 percent of the commission and 20 percent for administrative services, such as the provision of the real estate platforms, goes to the office.
And the big fish
In practice, the average gross turnover of a real estate agent is between 70,000 and 80,000 euros, although there can be large differences depending on the individual commitment and there are almost no upper limits. Especially in the luxury segment, which is thin in Austria, the gross income of real estate agents is well over 100,000 euros per year. (3.7.2015)
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