Content of the material
- Salaries by years of experience in North Carolina
- Who pays realtor commission in North Carolina?
- How can I be a real estate agent?
- How much should you be earning?
- North Carolina realtor commission FAQs
- Do real estate agents get a base salary?
- As a North Carolina Real Estate Broker, Youre Your Own Boss
- You Can Set Your Own Schedule When You Work in Real Estate
- 10 States Where Real Estate Agents Earn The Least Money
- Realtor commission in North Carolina: Key takeaways
- Breaking down North Carolina commission rates
- More Research From Real Estate Witch
Salaries by years of experience in North Carolina
|Years of experience||Per year|
|Less than 1 year|
|1 to 2 years|
|3 to 5 years|
|6 to 9 years|
|More than 10 years|
View job openings with the years of experience that is relevant to you on IndeedView jobsIs this useful?
Who pays realtor commission in North Carolina?
In North Carolina, the home seller typically pays the realtor fees for all agents involved in the sale. This is the standard nationwide.
» MORE: Who pays realtor fees?
Realtor fees are baked into the price of the home and gets paid out of the proceeds when it sells. So home sellers don’t have to pay real estate commission up front; the agents get their cut when the deal closes. Here’s how that breaks down for a typical sale in North Carolina:
|Seller closing costs||$2,500-7,500||1-3%|
How can I be a real estate agent?
You can become a real estate agent in about four to six months, depending on where you live. Online prelicensing classes can speed up the process. Requirements vary by state, but the general steps are to take a real estate prelicensing course, take the licensing exam, activate your license, and join a brokerage.
How much should you be earning?
Get an estimated calculation of how much you should be earning and insight into your career options. See more details
North Carolina realtor commission FAQs
North Carolina real estate agents earn an average of 5.50% per sale, which is split between the listing agent and the buyer's agent. Commission is not always split evenly between the two agents: listing agents earn an average of 2.90% per sale statewide, while buyer's agents earn 2.60%, according to our research.
The seller is usually responsible for paying realtor fees, which are deducted from the sales price of the home at closing. In most cases, the seller covers the buyer's agent fee as compensation for bringing a "ready, willing, and able" client to the table.
North Carolina real estate agents earn an average of $61,087 a year, lower than the national average of $82,898, according to ZipRecruiter. Listing agents make about $7,920 per sale on a home worth $273,100.Back to the top
Do real estate agents get a base salary?
Do Real Estate Agents Get Paid a Base Salary? Most real estate agents are paid on a commission-only basis. But certain agents—including those who are employed by companies like Redfin—get a base salary plus bonuses.
As a North Carolina Real Estate Broker, Youre Your Own Boss
Pros: You’re in charge now! As an independent contractor, you control your own book of business, and you call the shots. If you’re prepared to work hard and keep your chin up, you have a serious opportunity to grow a substantial business for yourself.
Cons: You’re in charge now! There’s no safety net in real estate. You are 100% responsible for your successes and failures. It’s up to you to learn your market and carve out your niche within it. Developing and cultivating leads, serving clients, networking, marketing, and daily office management are your responsibility. New agents often aren’t prepared for the volume or variety of work they are faced with when trying to get their North Carolina real estate career off the ground.
You Can Set Your Own Schedule When You Work in Real Estate
Pros: There’s no time clock to punch when you work in residential real estate sales, so you have the opportunity to work with a flexible schedule. Each day is different, depending on what needs to be done. Many real estate agents with children appreciate the ability to attend school and sports functions they wouldn’t be able to go to if they were employed in a profession with traditional hours.
Cons: The schedule you set will likely play a big role in your ability to attract, serve, and retain clients. Most of your clients do work traditional hours. You will likely need to make yourself available to work some evenings and weekends if you want to build a reputation for exceptional client service. Time you might normally spend with family and friends may need to be sacrificed in order to serve your clients.
10 States Where Real Estate Agents Earn The Least Money
Here’s a breakdown of the top-10 states in which real estate agents earn the least:
|Rank||State||2017 Mean Annual Wage|
This list is dominated by states of the South and Midwest, with one state representing the Northeast.
Realtor commission in North Carolina: Key takeaways
Most North Carolina agents work solely on commission and only get paid when your home sells. Commission is deducted from the sales proceeds at closing.Commission rates are not fixed, they're negotiable. You’ll have the opportunity to discuss commission rates with your agent before signing a listing agreement.North Carolina sellers are in a strong position to negotiate right now. A strong seller's market increases the competition for new listings among agents. Here's why the North Carolina market currently favors sellers:
- Buyers have fewer homes to choose from. Active listings are down (-36.2% over the past year, falling the most in Raleigh (-50.8% drop) and (-56.7%).
- North Carolina home values have risen by 26.6%, led by the cities of Raleigh (34.89%), Durham (32.79%), and Burlington (30.90%).
- North Carolina homes sell in an average of (58 days), or 11% faster than the national average. Homes sell the fastest in Raleigh (36 days) and Burlington (45 days).
Breaking down North Carolina commission rates
Here's a quick explanation of how North Carolina real estate commission works.
- Your realtor splits the 5.50% commission with the buyer's agent, who is paid for bringing a financially-capable buyer to the table.
- The average commission split in North Carolina has 2.90% going to the listing agent and 2.60% going to the buyer's agent, according to our research.
- Commission covers a wide range of services, including photography, online marketing, hosting open houses, showing the home to prospective buyers, and negotiating offers.
- Commission does not include closing costs, which average 0.8% of the home sale in North Carolina and includes costs like title service and transfer tax.
- The average annual pay for a realtor in North Carolina is $61,087 a year, lower than the national average of $82,898, according to ZipRecruiter.
» MORE: What is realtor commission?
More Research From Real Estate Witch
2022 Data: What Are the Best Cities to Start a Business? North Carolina is home to one of the 15 best startup cities in the country. Our research used business applications, employment growth, and more to find how the state’s entrepreneurial spirit stacks up.