![]() ![]() As agents grow their income at Redfin, the balance between transaction bonuses and base salary tends to shift with more earnings coming from bonuses. ![]() In the first year, about 30% of agent pay is base salary and 70% comes from transaction bonuses. The bonus amount is tied to the price of the home. As employees, Redfin agents earn a base salary and bonuses for every home purchase or sale they close. Most agents at traditional brokerages are paid solely on commissions from closed sales. Salary or Commissions? How Redfin Agents Get Paid You can see the average income and how Redfin agents are paid by market in our compensation guide. For example, in Austin, the average pay is $67,000 for agents in their first year and $173,000 for agents who’ve been at Redfin for three or more years. In markets with higher home prices and cost of living, Redfin agents earn more on average. While there is no direct data on how much agents at other brokerages earn over time, data from the National Association of Realtors finds agents with 3 to 5 years of experience earned a median of $45,400 before taxes and expenses and agents with 6 to 15 years of experienced earned a median of $68,300 before taxes and expenses.Īs in most industries, average agent pay at Redfin varies by market. Redfin agents who have been at the company for 3 or more years earn an average income of $160,000. Real estate agents are able to rapidly grow their earnings at Redfin as they are promoted within the company. In their first year at the company, Redfin real estate agents earned an average of $63,000, which is already $13,000 more than the annual agent income reported by the National Association of Realtors. Redfin puts agents on a path to earn six figures after their first year by providing team support, training, technology and introductions to 100+ serious customers per year. Redfin Agents Have Strong Earnings in Year One Traditional agents, who tend to be independent contractors working solely on commissions, don’t typically receive benefits and usually pay for all of their business expenses out of pocket. Redfin agents earn these benefits because they are employees, not independent contractors. Benefits are described in more detail below. It does not include the value of the benefits and expenses that Redfin covers for agents, which total about $25,000 per agent per year. Redfin median income includes salary, bonuses from home sales and Redfin stock. That’s more than double the median gross income of $49,700 that a typical real estate agent makes in a year, according to data from the National Association of Realtors. The median income for all Redfin lead agents was $112,200 in 2020. ![]() Redfin strives to be the best employer in real estate by offering excellent compensation, benefits and opportunities for career growth. Redfin Agents Earned a Median Income of $112,200 in 2020, More than Double the Median of $49,700 for Traditional Agents ![]()
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