Salary of a Residential Leasing Agent
The roles of a residential leasing agent is often fulfilled by real estate sales agents, who are responsible for preparing property listings, obtaining clients, arranging sales and devising lease contracts. There were approximately 151,550 people employed as real estate sales agents in the United States in 2009, according to the Bureau of Labor Statistics.
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National Salary Scales
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The average annual salary of real estate sales agents in 2009, according to the Bureau of Labor Statistics (BLS), was $53,100, equating to a mean hourly wage of $25.53. The median salary was substantially less at $40,100 a year. The top 10 percent of earners made at least $96,410 a year, while the top 25 percent had annual incomes of $63,510 or more.
Local Salary Scales
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The highest salaries for real estate sales agents could be found in the Burlington-South Burlington area in Vermont, with wages averaging $95,390 a year. This was followed by Wilmington in North Carolina, Framingham in Massachusetts and the Raleigh-Cary area in North Carolina. In terms of state, the highest salaries, averaging $85,550 a year, were in Vermont, followed closely by the District of Columbia and New York.
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Salaries by Industry
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The biggest employer of real estate sales agents in 2009 was by far the offices of real estate agents and brokers, which paid an average of $54,740 a year. The second biggest employer was the lessors of real estate, with salaries averaging $46,070, followed by the "activities related to real estate" sector, paying agents averages of $48,800 annually.
Qualifications
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Traditionally, a high school diploma was the minimum educational prerequisite for entry into the field of real estate sales and leasing. However, many firms are increasingly employing college and university graduates. A background in business administration, statistics or English is beneficial for entry to this career. According to the U.S. Department of Labor, 36 percent of real estate sales agents had some college experience but not a degree; 32 percent had a high school diploma as their highest qualification; and 29 percent had less than a high school diploma.
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References
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