Choosing the livelihood of a real estate agent is a bold move, yet salary often ranks highly as the ultimate deal-breaker. However, location, brand and benefits are all considered important in the decision-making process.
Working in such an industry for many years, we have encountered many inquiries of people asking about the topic on salary and a few questions on – questions that everyone wants the answer to, but is too scared to ask.
But no worries, we’ve got you back with answering your burning questions!
First of all, why become a real estate agent?
- Do you like chatting up to people and visiting houses?
- Do you enjoy a bit of flexibility and colour of variety?
- Do you enjoy helping people from all walks of life?
- Do you enjoy being your own boss?
- Do you want to learn many opportunities?
If your answer was yes, yes, yes, yes and yes, your why has become why not. You clearly have the passion and desire to pursue a career in the real estate industry – so why in the world are you still sitting here, holding your phone and reading this article?
Get off your butt – after you bookmarked this page for later – and head to an agency to sign up your future!
But, how much does a real estate agent earn actually?
Wait you are still here? You have your passion, what more do you need? Salary? Oh, you are a curious one.
Disclaimer, what I tell you is a standard answer for many agencies in Malaysia – so listen carefully and closely…
Becoming a real estate agent DOES NOT ensure a monthly wage. Yes, by becoming one you are awarded a large salary but you must be able to continue your sale streak to enjoy life to the fullest.
Before you decided to jump the real estate boat and manoeuvre to the sunset for a happily ever after, think again your choices. Ultimately the choice is up to you, we can only provide guidance.
Now we have those concerns have been answered, shall we continue on to the star of this article?
1. What are the commission rates for project units?
It depends on the project, and the rate can be changed if say the developer increases the overall commission rate, or the company runs additional incentives. The commission rate is published, and agents can get the latest commission rate from their head of the team.
2. What are the commission rates for subsales? (What are the difference in rent and sale difference?)
Subsales commission rates are based on the tiering level achieved by agents. When agents first start with the company and have no proven sales history, they start at level 1. To move to the next level, the agent has to have achieved a specific amount of “collected commission” by the company. The levels start from 40%, and they are additional incentives.
3. Are there tiers for the real estate agent’s commission/ salary rates?
Yes, there are tiers, as explained above.
4. Do real estate agents have a monthly sales target/salary?
No, agents don’t have monthly sales target that will affect their existing commission rates. There are, however, sales target-based incentives.
5.What are the incentives/awards agents will get when they hit the sales target?
There are many incentives and awards available and vary from project to project, region as well as overall company level.
At IQI, we ensure our agents reach their full potential in business and personal. By working hard each day, the agents are offered exciting rewards/incentives to motivate them further.
These incentives come in several categories, including global travel destinations such as Norway and grand luxury cars like BMWs.
6. What is the commission rate breakdown of properties?
Commission rates start from 1.5% of the value of a property and can go up to 3% and sometimes above depending on the details.
An individual with a burning drive to continually improve your skillset? Constantly searching for new ways to improve your real estate marketing skills?
We are looking for passionate people like YOU to join us, drop us your contact, and one of our esteemed agents will get in touch to you.