{"id":73920,"date":"2025-02-07T15:46:15","date_gmt":"2025-02-07T15:46:15","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/study-real-estate-income-doubles-after-first-year\/"},"modified":"2025-02-07T15:46:15","modified_gmt":"2025-02-07T15:46:15","slug":"study-real-estate-income-doubles-after-first-year","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=73920","title":{"rendered":"Study: Real Estate Income Doubles After First Year"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>For more real estate professionals, the first year is the hardest in terms of income. However, the <a href=\"https:\/\/www.nar.realtor\/agent-income\">National Association of REALTORS<\/a> reports that 48% of professionals earn $50,000 or more by years three to five. <\/p>\n<h2 class=\"wp-block-heading\">Real Estate Income Grows for Many Reasons<\/h2>\n<p>Other factors influence an agent\u2019s pay. Everything from how many hours they worked a week to their home state and niche plays an important role in impacting how much they could expect to earn annually.\u202f<\/p>\n<p>But it\u2019s undeniable that the longer agents stay in the business, the more they earn.\u202f<\/p>\n<p>This can be welcome news to agents struggling through the early stages of their careers and wondering when they\u2019ll see an uptick in their earnings. On average, the most significant one-time income increase an agent will experience during their real estate career happens after the first year. However, it can be challenging for new agents to stick around long enough to break through.\u202f<\/p>\n<p>Here are some tips to help new agents succeed in the first year of real estate and increase their earnings.\u202f<\/p>\n<h2 class=\"wp-block-heading\">3 Income Tips for First-Year Agents<\/h2>\n<p>Staying in real estate long enough to see that initial income double or triple is crucial, but it can be discouraging to keep going if the results aren\u2019t there. These strategies can help agents stay in the business and continue improving.\u202f<\/p>\n<h3 class=\"wp-block-heading\">Tip 1: Have savings to rely on in your first year<\/h3>\n<p>Do you know\u202fhow much it will cost to get started in real estate? Like any business, real estate requires some investment capital. Here are a few of the initial start-up costs you can expect:\u202f<\/p>\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/www.colibrirealestate.com\/real-estate-license\/\">Pre-licensing real estate classes:<\/a><\/strong> (Estimated cost $500) You\u2019ll need these before taking the real estate exam.\u202f<\/li>\n<li><strong>Brokerage fees:<\/strong>\u202f(Estimated cost $25 to $500 a month) Brokers can take a commission on your real estate earnings, charge you a monthly desk fee, or both.\u202f<\/li>\n<li><strong>Marketing costs:<\/strong> (Estimated cost about $600 annually) Announcing yourself to the community and\u202fdeveloping leads takes time and money. Be prepared to spend a significant amount of energy and resources in your first year on marketing.\u202f<\/li>\n<\/ul>\n<p>Not only does it take money to start your business in the first year, but you\u2019ll also need money for living expenses while waiting for your initial transactions. The more money you have saved, the longer you\u2019ll be able to last in real estate while you\u2019re learning and waiting for your real estate income to increase.\u202f<\/p>\n<p>How can you save money fast before going into real estate? Here are two budget apps that can help you stay on track.\u202f<\/p>\n<p>Use a money management app like\u202f<a href=\"https:\/\/www.quicken.com\/lp\/aff\/general\/?irclickid=1OHS-N26SxyKT8qRI6Vd3QIAUkCRiYQRT2TpXc0&amp;irgwc=1&amp;utm_medium=Affiliate&amp;utm_source=Forbes-MKTP&amp;utm_campaign=Impact&amp;utm_content=&amp;utm_term=1955282\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Quicken<\/a> to track your savings and spending as you work toward your financial goals. Quicken will send you updates to help you stay on target and automatically analyze your finances to let you know where you can cut some expenses.\u202f<\/p>\n<p>Also, find an auto-saving tool.\u202fIf thinking about putting aside money is stressful for you, or if you just forget to do it when you get paid, use an app that will do it for you. Apps like\u202fOportun\u2019s <a href=\"https:\/\/oportun.com\/savings\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Set &amp; Save<\/a> analyze your finances and put small increments of money away automatically so you don\u2019t have to think about it.\u202f\u202f<\/p>\n<h3 class=\"wp-block-heading\">Tip 2: Find a supportive brokerage<\/h3>\n<p>A supportive brokerage can be an impactful ingredient to agent success. Leaning on other agents\u2019 collective wisdom and resources will help you learn how to triple your income.\u202f<\/p>\n<p>Here are some ways to\u202fassess if a brokerage is right for you.\u202f<\/p>\n<ul class=\"wp-block-list\">\n<li>Do they have a track record of being supportive and inclusive?\u202fAsk potential brokerages about how they support new real estate agents. Do they have processes in place for new agents? Can they share examples of how they\u2019ve helped new agents in the past?\u202f<\/li>\n<li>What is the commission split?\u202fYour commission split will vary depending on your market, the brokerage size, and your\u202fniche. Talk to other real estate agents in your market to understand what a good commission split is for you.\u202f<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Tip 3: Find a mentor<\/h3>\n<p>Having a mentor you can look to when learning the ropes can help you triple your real estate income after the first year.\u202f<a href=\"https:\/\/www.colibrirealestate.com\/career-hub\/grow-your-real-estate-career\/finding-a-real-estate-mentor\/\">Finding and cultivating a mentor relationship<\/a> can be the tricky part. One strategy to consider is an\u202finverse mentorship. If you\u2019re good at a skill that more established agents don\u2019t have \u2014 like website building or social media management \u2014 you can offer to teach this skill while they teach you others in real estate.\u202f<\/p>\n<h2 class=\"wp-block-heading\">Tripling Your Real Estate Income is Possible<\/h2>\n<p>The statistics show that the majority of agents who last through their first year will see triple real estate income after that. Learn the essential lessons early on, recover quickly from your mistakes, and start earning top dollar!\u202f<\/p>\n<\/div>\n<p>Editor\u2019s note: this post was originally published on January 2, 2025.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>For more real estate professionals, the first year is the hardest in terms of income. However, the National Association of REALTORS reports that 48% of professionals earn $50,000 or more by years three to five. Real Estate Income Grows for Many Reasons Other factors influence an agent\u2019s pay. Everything from how many hours they worked [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":73921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[38232,4856,10975,482,2677,629],"dealstore":[],"offerexpiration":[],"class_list":["post-73920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-doubles","tag-estate","tag-income","tag-real","tag-study","tag-year"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Study: Real Estate Income Doubles After First Year - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=73920\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Study: Real Estate Income Doubles After First Year - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"For more real estate professionals, the first year is the hardest in terms of income. 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