Real estate agents are known to be one of the most lucrative professions in the United States and most especially in California. A lot of real estate agents make very decent pay based on the volume of sold properties.
In an area like California which is known for its expensive and luxurious properties, it is no news at all that the real estate agents in this state get paid quite well. Well, if you are here I guess you want to know who the highest paid real estate agent in California is.
In this article, however, we went one place up to give you not only the highest paid real estate agent in California but also who the 15 highest paid real estate agents in California are. In this article, we will also discuss how much a luxury real estate agent makes in California among other queries.
So, without wasting any more time, let’s dive right into it.
How much does a Luxury Real Estate Broker make in California?
As of the 9th of July, 2022, an annual salary of $87,964 was considered to be the norm for a Luxury Real Estate Broker working in the state of California. If you want a straightforward calculator for salaries, that comes out to around $42.29 per hour.
This equates to $1,692 per week or $7,330 per month in spending. Although we have received reports of salaries as high as $146,005 and as low as $20,787, the majority of Luxury Real Estate Broker salaries are currently in the range of $53,947 (25th percentile) to $117,794 (75th percentile), with the highest earners (90th percentile) making $123,733 annually in the state of California.
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The salary range for luxury real estate brokers is rather wide (it can go as high as $63,847), which indicates that there may be numerous prospects for growth and improved income depending on one’s skill level, location, and the number of years of experience in the field.
According to the most recent activity regarding job postings, the employment market for Luxury Real Estate Brokers in the state of California is not particularly active because very few businesses are now recruiting.
When looking at compensation for luxury real estate brokers throughout all 50 states, California comes in at number 11 overall. This data is a result of regular searches through a database of millions of active jobs listed locally around the United States to get at the most accurate estimate possible for the yearly income range associated with Luxury Real Estate Broker positions.
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What are the Top 10 Highest Paying Cities for Luxury Real Estate Broker Jobs in California
We have discovered ten places in California where the average compensation for a job working in Luxury Real Estate Brokerage is higher than the statewide average. San Mateo comes in the first place, with Daly City and Berkeley following closely after in second and third respectively.
Berkeley is above the average of California by 23.4 percent, while San Mateo continues this pattern by being higher by 25.7 percent with an additional $22,575 over the average of $87,964. As a result of these 10 cities paying, on average, more than the average for California, the prospects for professional progress that come with relocating to work as a Luxury Real Estate Broker look to be exceptionally promising.
The final consideration to take into account is that there is not much of a difference in average pay between San Mateo and Elk Grove, which reinforces the assumption that there is not much room for significant wage progression. The difference between the two places is just 13 percent.
When determining where to locate a Luxury Real Estate Broker function and what income to provide, the likelihood of a cheaper cost of living is perhaps the most important issue to take into consideration. The Top 10 Highest Paying Cities for Luxury Real Estate Broker Jobs in California are
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- San Mateo
- Daly City
- Berkeley
- Richmond
- Santa Clara
- San Francisco
- Fremont
- San Diego
- San Bernardino
- Elk Grove
What are the Top 5 Best Paying Related Luxury Real Estate Broker Jobs in California?
We identified at least five occupations that are linked to the job category of Luxury Real Estate Broker that pays more per year than the mean salary for Luxury Real Estate Brokers in the state of California. These jobs include Real Estate Professionals, Real Estate Partners, and Real Estate Broker Associates as some of the more prominent examples.
Importantly, the average compensation for a Luxury Real Estate Broker is $87,964, but all of these other careers pay between $23,880 and $76,475 (86.9 percent) more than that. If you are qualified, being recruited for one of these related Luxury Real Estate Broker jobs might help you make more money than the average Luxury Real Estate Broker position pays out.
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Related Luxury Real Estate Broker occupations include:
- Real Estate Professionals – $164,439
- Real Estate Partner – $148,786
- Real Estate Broker Associate – $123,281
- Estate Manager – $119,232
- Real Estate TEAM Leader – $111,845
15 Highest Paid Real Estate Agents in California
We have scoured the internet to bring to you the 15 highest paid real estate agents in California. In our list of highest-paid real estate agents, we ranked them based on the value of their total sales made in their real estate careers.
So let’s get straight to it.
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#1. Jade Mills – $471,474,997.00
Jade Mills is one of the highest paid real estate agents in California. He works for the Coldwell Banker Realty company in the city of Beverly Hills with a volume of $471,474,997.00 in sales.
#2. Ginger Glass – $387,850,415.00
Ranked as one of the highest paid real estate agents in California, Ginger Glass who works in Beverly Hills in the Compass company has $387,850,415.00 in sales.
#3. Tim Allen – $354,561,466.00
Tim Allen works for the Coldwell Banker Realty company in Carmel-by-the- sea and has $354,561,466.00 in sales. It is no surprise he is one of the highest-paid real estate agents in California.
#4. Santiago Arana – $332,629,120.00
Santiago is among the highest paid real estate agents in California with a volume of $332,629,120.00. He works for The Agency, a real estate company in Los Angeles, California.
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#5. Sandro Dazzan – $309,956,909.00
Another amazing real estate agent to make our list of highest paid real estate agents in California is Sandro Dazzan. He works for The Agency in Malibu with a volume of $309,956,909.00.
#6. Judy Citron – $308,103,679.00
Judy has sold roughly $308,103,679.00 in real estate and as such deserves a spot as one of the highest paid real estate agents in California. Citron works for the Compass at Menlo Park.
#7. Shana Rohde-Lynch – $297,842,714.00
Shana Rohde-Lynch is a well esteemed real estate agent in California who has sold $297,842,714.00 worth of real estate. Rhode works for the Compass real estate company in Tiburon, California, and is one of the highest paid real estate agents in California.
#8. Nancy Kogevinas – $296,051,825.00
Nancy works for Berkshire Hathaway HomeServices California Properties in Montecito, California. In her career, she sold $296,051,825.00 worth of properties and is one of the highest paid real estate agents in California.
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#9. Jordan Cohen – $295,403,181.02
Jordan Cohen works for RE/MAX One in Westlake Village, California. He has sold over $295,403,181.02 worth of properties and is one of the highest paid real estate agents in California.
#10. Joshua Flagg – $291,384,154.00
One of the top real estate agents in Rodeo Realty, Inc. in Beverly Hills, Joshua has sold over $291,384,154.00 in properties and is one of the highest paid real estate agents in California.
#11. Stanley Lo – $285,420,989.00
Stanley Lo who works for Green Banker in Burlingame, California is one of the highest-paid real estate agents in California. He has sold over $285,420,989.00 worth of properties in his career as a real estate agent.
#12. Keri Nicholas – $275,314,280.00
Nicholas works for the Parc Agency in Menlo Park California and has sold properties worth about $275,314,280.00. There is no doubt he is one of the highest paid real estate agents in California.
#13. Cristal Clarke – $261,305,918.00
Cristal Clarke is one of the highest paid real estate agents in California with over $261,305,918.00 worth of sold properties to her name. She works for Berkshire Hathaway HomeServices California Properties in Montecito, California.
#14. Tracy McLaughlin – $252,755,000.00
Tracy McLaughlin works for The Agency in Larkspur, California. She is one of the highest paid real estate agents in California with $252,755,000.00 worth of properties sold.
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#15. David Offer – $245,006,534.00
Last on our list of 15 highest paid real estate agents in California is none other than David Offer who has sold $245,006,534.00 worth of properties. David works for Berkshire Hathaway HomeServices California Properties in Los Angeles, California.
Conclusion
The above article gave us a glimpse of how much real estate agents in California make as well as who the 15 highest paid real estate agents are. We also gave information as to the average income of a real estate agent in California. We really hope the article was informative and provided you with all you want.
Frequently Asked Questions
The most successful real estate brokers sometimes run their own brokerages, which allow them to employ a large number of other agents. These best real estate agents may make millions of dollars per year in commissions and commission splits.
No, it is not common for real estate brokers to make a salary as their primary source of income. The majority of real estate agents are compensated through a commission structure based on the properties they sell.
Check out the following indeed career pages for more information on the salary ranges of other careers that are comparable to those of a real estate agent:
Sales Representative
Real Estate Sales Agent and New Home Consultant
Real Estate Agent Property Manager
Administrative Assistant
Real Estate Appraiser
Mortgage Loan Originator
Leasing Consultant
Loan Officer
Commercial Real Estate Agent
Leasing Agent
Property Manager
A good number of real estate brokers are paid a base income in addition to commission on transactions. Earning a commission alone can be enough to keep some of them on track professionally and ensure their continued success. This is something that might change based on the real estate brokerage that a person works with.
According to the wages that were submitted by users of Indeed, real estate brokers make an annual average of $84,459 on average.
No, real estate agents normally only receive payment in the form of commission after assisting a client in the purchase or sale of a property.
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References
- https://www1.realtrends.com/ – Best real estate agents California
- https://www.mbitiontolearn.com/ – Average real estate income California
- https://www.thebalance.com/ – How much do real estate agents make
