In November of 2021, we reached out to thousands of licensed real estate brokers and managing brokers across North Carolina to better understand the tactics and strategies used to increase their earning potential.
Having received almost double the number of responses from last year’s participants, this year’s guide casts a more accurate picture of what real estate professionals in North Carolina are earning and the factors that influence those earnings.
While some insights remained the same (real estate brokers still boast a higher career satisfaction rating compared to the average worker in the United States), there were others that were a bit more surprising. Below are some highlights from the guide. (To access the full guide, click this link).
Insight #1: Real estate income is on the rise
Despite an economic downturn due to COVID-19, 80% of North Carolina real estate brokers reported earning more in 2020 than they did in 2019.
One of the great things about real estate is that many times you get out what you put in. Whereas with salaried jobs you will earn a set amount each year, with real estate the income potential is unlimited.
Download the guide to find tips and tricks to increase your income potential.
Insight #2: Top earners invest in professional development
While some individuals may be hesitant to invest in their professional development and education, those who do see significant returns. Participants who indicated that they were experts at investing in professional development reported an average income of $33,676 more than those who don’t. Considering the median amount spent on professional development for real estate agents is $680 a year, that’s an impressive return on investment.
There are many ways you can invest in your professional development. From taking online classes to attending conferences and webinars to having a personal coach guide your way, investing in yourself has never been easier and more affordable.
Insight #3: It pays to specialize
Similar to last year’s results, this year’s results clearly show that specializing in a niche is key to earning more income. This year, the most profitable niche was foreign investment with an average income of $307,000 with second/vacation homes coming in second.
Want more insights and tips? Download the full version of the 2022-2023 North Carolina Real Estate Income Guide for free here.
