The average weekly income rose to $938 in 2015, which represents an average annual salary of roughly $50,000. Real estate professionals saw a 2.5% increase in weekly earnings from January 2014 to January 2015. Meeting the Initial Eligibility Requirements. The average salary for a Real Estate Agent is $88,287 per year in Alberta, which is 16% below the national average. Realtor in Edmonton, AB. This is the average yearly salary including housing, transport, and other benefits. How much does a real estate agent usually make? These amounts are shared 50/50 with the cooperating Realtor (the buyer’s agent). The estimated Vacancy Rate is calculated using the following formula: Number of positions vacant for over four months (at the time of the survey) divided by the sum of the number of vacant positions + the number of employees at employers that responded to the vacancy question. Q: How much do you charge? In Alberta, Real estate agents and salespersons earn an average of $30.35/hour or $61,168.00/year. Salary estimated from 66 employees, users, and past and present job advertisements on Indeed in the past 36 months. It is important to note that the information below is a snapshot in time and represents the opinions of the organizations that responded to the survey. Now learn how to keep it, and maybe even get a promotion. Salary ranges can vary widely depending on many important factors, including education , certifications, additional skills, the number of years you have spent in your profession. The fee remains the same regardless of the sale price. If this property sells for $500,000, then the commission will be $100,000 X 7% + $400,000 (the balance) X 3%, or $7,000 + $12,000 = $19,000 + GST. Average wages were weighted by the number of employees and post-stratification employer weighting. * All wage estimates are hourly except where otherwise indicated. You got the job. The following is an average salary list of industries within the specific occupation. By using this website or closing this message, you are agreeing to our cookie policy. However, like most things associated with real estate, the realtor’s fees and commission may be negotiated. The question we're gonna answer is: What's a typical real estate agent commission? Real estate brokers and sales agents help clients buy, sell, and rent properties. For example, 7% on the first $100,000 and 3% on the balance. How much does a Commercial Real Estate make? The answer really depends on the individual. In order to make an informed wage and salary decision, we recommend you research other wage sources available to supplement the Alberta Wage and Salary Survey results. How Much do Realtors Get Paid for Presales? The primary factor in determining realtor fees is the final cost of the house plus closing costs. The Shane Meahan Realty Team Real Estate Agent, Real Estate Partners With Re/Max First Real Estate Agent, Tink International Real Estate Real Estate Agent, The Chamberlain Group Real Estate Experts Real Estate Agent, Brent MacIntosh Real Estate Group Real Estate Agent, Lee Yousef Real Estate Group Real Estate Agent. How much do realtors make in Alberta? The traditional real estate commission in Alberta and B.C. However, real estate can often be a feast or famine proposition. But what does this mean in real terms? While I believe real estate agents do indeed provide a service and should be paid for it, there is absolutely no way they can justify the absurd commission’s they get. Discover what it takes to stand out at work, how to handle challenges and how to be safe in your workplace. Flat Fee. Remember: all real estate fees are negotiable. Start Planning Your Career Now, 5 Things To Do in 5 Minutes...To Help You Figure Out Your Career Path, Plan Ahead: 4 Steps to Finding Work in Your Field of Study, Additional Resources for Specific Audiences, Occupations - Post-Secondary Schools and Programs - Salaries, Time to Choose Your Post-Secondary Education, Post-Secondary Education and Training Testimonials, Earnings by Post-Secondary Field of Study, Student Services at Post-Secondary Schools, Learn About Employment Laws and Standards, Low Literacy Resources for Career Advisors, Publications for Educators and Counsellors. If you’re interested in being a real estate agent in Alberta, you’ve come to the right place. In some instances, anomalies have occurred as a result of the occurrence of outliers or employers not responding to all the survey questions. Get an estimated calculation of how much you should be earning and insight into your career options. First things first: it is mandatory to have a licence to practice real estate in Alberta. This website uses cookies to give you a better online experience. Some agents will try for an uneven split (for example, 3.5% for the listing agent and 2.5% for the buying agent), but that is not a typical practice. For some wage levels for other occupations the information has been entirely suppressed. Salary estimates are based on 71 salaries submitted anonymously to Indeed by Real Estate Agent employees, users, and collected from past and present job advertisements on Indeed in the past 36 months. Looking for an Alberta Supports Centre? GO About Alberta. Each agent then owes a percentage to their brokerage. The Canadian Real Estate Association (CREA) reported that there were 58,645 homes sold in August—an increase of 33.5% vs. a year ago. These figures are given to the Indeed users for the purpose of generalized comparison only. In a red-hot market like Toronto, where a $1-million home sells in 24 hours and a realtor puts in a few hours of work for a $25,000 commission, the numbers might work Please visit alberta.ca for up-to-date information about these impacts. In most cases, the inconsistency is fairly small and within the margin of error for the survey. Wages and salaries do not include overtime hours, tips, benefits, profit shares, bonuses (unrelated to production) and other forms of compensation. Employers were asked if they recruited to this occupation over the past two years and had experienced hiring difficulties or currently have vacancies of over four months for the occupation. Good Reliability, represents a CV of between 6.01% and 15.00% and/or fewer than 30 survey observations and/or if survey observations represent less than 50% of all estimated employment for the occupation. Total real estate commission* $12,000. Swipe left and right to view all data. There are many benefits of working as a real estate agent in Alberta. Here's a guide to who pays, how much, and more. Well, not you getting paid, but how does that work, in terms of commissions for real estate agents? These wage estimates include employees in companies which were believed to have 8 or more employees, from the public and private sector and include full and part-time employees. Please note that all salary figures are approximations based upon third party submissions to Indeed. In addition to job openings created by employment turnover, 80 new positions are forecasted to … It depends on the closing price of the home. How Much Does a Real Estate Agent Cost? Discover valuable resources to help your clients, students, children and the people in your community as they plan and achieve their career goals in Alberta. Realtors in Alberta generally charge 7% on the first $100,000 and 3% on the remainder of the home’s selling price. A person working in Real Estate in Calgary typically earns around 196,000 CAD per year. Q: What sort of referrals will you make? For some occupations, outliers have been suppressed and the averages have been recalculated. Start planning your career now. Are you looking for a job, drafting your resumé, or preparing for an interview? Information on this website may not reflect the current situation in Alberta. Visit PayScale to research real estate broker salaries by city, experience, skill, employer and more. $105,718 per year. Commissions are negotiable between listing agents and their clients. Shaving just 1% off the average 6% real estate agent commission could save you $4,000 on the sale of a $400,000 home. A typical commission is 6% of the sales price, split evenly between the buyers’ agent and seller’s agent, typically taken from the seller’s proceeds of the house sale (so, 3% each). 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