How Much Money Do Real Estate Agents Make In Ontario

How much does a real estate agent make in Ontario now?

It seems like everyone has been hopping onto the real estate bandwagon recently. Checked out my Facebook and Instagram, and it seems like there is at least one newly minted real estate agent a month.

Funny thing is I would NEVER buy a house from these people ever.

But on a serious note, are there stats on the compensation for a RE agent? Just a genuine curiosity....

level 1

Based on anecdotal info from a friend who's an agent < 2 years ago... easily 300k annually. He's a hustler tho but also similar to you, he would never be my realtor

level 1

A lot of people are trying it as a side hustle, some people are entrenched and sell plenty of homes each year.

level 1

Pareto principle definitely applies here. The top 20% of agents are involved in 80% of transactions. If you are in the top 10% you are making a good living and once you are in the top 5% you start to do great. The bottom 80% would be better off doing just about anything else by the time they pay their fees.

level 1

This is a slightly older stat but more than 50% of agents do one deal or less per year (https://www.realestatemagazine.ca/many-transactions-average-toronto-realtor-2017/). Therefore salaries range drastically. I'd say your average realtor is probably only making around $50k per year because so many do next to no business. But that being said I know some that are easily making a few million per year. Most top producing agents (20+ transactions per year) are somewhere between $250k-$500k/year. This level is the top few % of all realtors and takes a lot of work to get there, being a neighbourhood/property type expert, or an amazing network and means you are likely consistently working 60+ hrs per week.

level 2

This... competition is fierce.

I had a agent helping me rent my place. He was working with me for 2 weeks and 8 viewings. He got paid 1900 dollars.

Not bad, not great either.

level 1

With average prices at 900k, and everyone seems to want to buy and sell these days, even two sales a year is better than working a job that pays $25/hr, while min wage earners make what roughly 30k a year working their butts off? It's kind of wack

level 1

it varies a lot.. you have really well known agents selling multiple mansions and penthouses a year making over a million and then you have agents who are lucky to get small apartments to lease or those that do it as a side hustle. The average for a full time agent with some experience is probably like 50-60k.