If you are a Floridian considering entering the real estate industry, you may wonder, “How much do real estate agents make in Florida?” We’ll tell you what to expect, including the average Florida real estate agent salary in 10 of the state’s largest markets.
Average Florida Real Estate Agent Salary
According to a recent survey of Gold Coast School alumni, the average salary for a real estate agent in Florida is $181,250. While we use the word “salary,” it’s essential that you understand that most real estate agents work solely on commission. The commission is typically based on a percentage of the property’s sale price.
For those starting the pre-licensing process, you must also understand that you’ll share a percentage of your commission with your brokerage company in exchange for supervision, training, and marketing materials.
Now that you understand the average salary for a real estate agent in Florida, especially how much you could make your first year, let’s discuss the average commission rate we see in the Florida real estate industry.
How Much Commission Does a Real Estate Agent Make in FL?
The average real estate commission rate in Florida is 5.53%. (For comparison purposes, the national average real estate commission rate is 5.57%.)
According to Zillow, the average home value in Florida is currently $393,698. This means that real estate professionals may earn $21,771 for services related to the average real estate transaction.
$393,698 x 5.53% = $21,771
It’s a great time to become a real estate agent in the Sunshine State, as Florida continues to experience many hot housing markets. Polk County is one of the fastest-growing counties in Florida and the seventh-fastest in the nation. Other growing counties include Orange, Hillsborough, Lee, and Palm Beach. Orlando and Southwest Florida may see 20% growth over the next decade.
Additionally, Florida is expected to experience high population growth over the next five years. This means demand for homes will increase, as will the average property price. Of course, you understand that this also means higher real estate commissions.
What Is the Average Real Estate Broker Salary in Florida?
The average real estate broker salary is $285,000, according to Glassdoor.
It’s worth noting that even though “real estate agent,” “REALTOR®,” and “broker” are often used interchangeably, there’s a distinct difference among the titles. Real estate agent is the general term for licensed real estate salespeople. The term REALTOR® is reserved for members of the National Association of REALTORS®. Finally, a real estate broker in Florida is an agent with at least two years of experience who has completed additional licensing coursework and passed a broker exam.
Real estate broker salary vs agent
A real estate broker generally earns more than an agent. Here’s why:
- Real estate brokers tend to have more experience. As real estate professionals gain experience, their salaries typically increase. More seasoned agents have more extensive networks, receive more referrals, and can leverage positive reviews to negotiate higher commission rates.
- Real estate brokers undergo additional training. In Florida, brokers must take additional courses in Business Economics, Business Law, Financial Management, and Human Resource Management. This extra training better equips them to manage more complex (and often more profitable) transactions than most agents.
- Real estate brokers can start their own brokerages. Many agents become brokers to work independently, allowing them to keep their full commissions rather than sharing them with a brokerage. Some brokers also open their own firms, hiring agents to manage, which can further boost their income.
- Brokers often secure better commission splits than agents. Since brokers don’t require supervision or mentoring, they are often able to negotiate higher commission splits, further increasing their earnings.
FAQs – Average Real Estate Agent Salary in Florida
You may have many questions if you are new to a commission-based income. After all, working on commission means you are responsible for paying for your own taxes and insurance – and putting money aside for retirement. Here are some answers to other FAQs about how much real estate agents make.
Who pays the real estate commission in Florida?
In Florida, the real estate commission is typically paid by the seller. A listing agreement outlines this compensation, which is usually a percentage of the sale price.
However, commission arrangements can vary, and it’s important for both agents to clarify the terms in their respective agreements.
How much do part-time real estate agents make in Florida?
Part-time real estate agents in Florida make $45,000. This is an excellent side hustle for those wishing to increase their income by doing something they enjoy. Plus, becoming licensed is relatively inexpensive compared with other job training programs or college degrees.
Do real estate agents get paid hourly?
No, most real estate agents work on commission based on a percentage of a property’s sale price. However, some online real estate companies may pay agents an hourly wage to show homes to buyers.
Download our latest income guide to learn how much real estate agents make in Florida.
What are the highest-paying real estate jobs in Florida?
Real estate agents and brokers earn high incomes in Florida. However, people in other real estate-related fields also earn good salaries.
- Property Manager: $63,007
- Commercial Property Manager: $69,032
- Real Estate Appraiser: $58,738
- Real Estate Transaction Coordinator: $66,068
- Community Association Manager: $68,272
- Mortgage Loan Officer: $168,765
Source: Average Base Salaries in Florida, Indeed October 2024
Average Florida Real Estate Commission Rate by Market
Below is the average home value in Florida’s ten most populated cities. Based on a 5.53% commission rate, here’s how much real estate professionals may earn by selling an average property.
Average Real Estate Commission for 10 Florida Cities
| City | Average Home Value | 5.53% Real Estate Commission |
| Jacksonville, FL | $296,379 | $16,390 |
| Miami, FL | $581,466 | $32,155 |
| Tampa, FL | $375,947 | $20,790 |
| Orlando, FL | $381,942 | $21,121 |
| St. Petersburg, FL | $376,876 | $20,841 |
| Port St. Lucie, FL | $396,848 | $21,946 |
| Cape Coral, FL | $374,566 | $20,713 |
| Hialeah, FL | $452,997 | $25,051 |
| Tallahassee, FL | $284,179 | $15,715 |
| Fort Lauderdale, FL | $521,684 | $28,849 |
Source for Average Home Value: Zillow. October 2024
Note: This commission is typically split four ways – among the buyer’s and seller’s agents and their brokerages.
Are you excited to earn a great income as a Florida real estate agent? The first step toward success is to earn your real estate license. Gold Coast Schools offers in-person, livestream, and take-at-your-own-pace online Florida pre-licensing courses. Enroll today!
Source:
Matarazzo, Steph. “Average Real Estate Agent Commissions by State (2024 Survey).” FastExpert. January 23, 2024. https://www.fastexpert.com/blog/real-estate-agent-commissions-by-state/.