How much commission does a realtor make in Virginia?

Question:

How much commission does a realtor make in Virginia?

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Answer:

According to data collected by PayScale, realtors in Richmond, Virginia make an average commission amount of $6,000 per year as of November 2020. Keep in mind that their commission amounts will vary greatly depending on a few different things, including the property type and exact location. Also, commission is often divided among a few different people, including buying agents and firms, so the original stated value of a commission will likely be larger than what you actually receive.

Realtors' total compensations (including salary, commission, etc.) obviously include many different elements, all of which are dependent on a realtor's motivation, the type of property available for sale, and the economic state of the country/state the property is in. At the entry level, real estate agents usually earn unpredictable amounts of compensation which usually become more regular as time goes on. As they gain experience and knowledge in the field, their earnings usually start increasing quickly.

For more information about realtors, check out this article: How to Become a Real Estate Agent

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