FAQs for Real Estate Agents

How much does a real estate agent make in Australia?

 Glassdoor states the average base pay for a real estate agent in Australia is $50,000 - $80,000 per year. 

Now, this can increase with bonuses, however with bonuses, your expenses will go up.  Most agents find, they need to spend 10-20% of their desired Gross Commission on Marketing themselves.  Many of these costs will be post tax, thereby lowering their take home pay after tax and expenses.

The longer you are in a real estate career, generally you'll receive more referrals and have a better following allowing you to either work just as hard and make more money, or work less and make just as much money.

Different Australian states have different ways on how to make money as a real estate agent with conjunction being more common in Victoria than it is in Queensland (i.e. splitting a commission).

How do you become a real estate agent in Australia?

Every state in Australia has different rules and requirements to become a real estate agent, but effectively you need to do the correct training and apply to the office of fair trading for your license.  This process could take anywhere from 4 - 8 weeks.

Once you have your license the most common way to become a real estate agent is to apply to be an associate for an experienced and successful real estate agent.  You will effectively serve as their apprentice.

Keep in mind, people rarely simply walk into a real estate office, see a person in a suit and ask them to sell their house.  A seller needs to know, like, and trust that you will do the best job for them.

What is the difference between a property agent and a real estate agent?

A property agent is generally a real estate agent who primarily looks after the property management and tenants in a landlord's property.

A real estate agent is usually the name people use for a property sales agent.  Someone who handles the transaction between seller and buyer in the transfer of a property.

 Is it worth being a real estate agent in Australia?

People often choose to become a real estate agent because they see agents in their nice suits driving flash cars.  A lot of this glitz and glamour isn't the real deal and it can take many years to actually get to this point.  If your aim of doing real estate is simply lining your pockets, you might be in for a short career as people who realise this will be quick to judge.

Real estate agents can have tremendous financial success, however a commission based career may not be for everyone with lean months meaning there could be no money coming in from time to time.