11 Best Paying Jobs In Real Estate: Find The Highest Paid Careers In The IndustryFeb 07, 2024
From investment consultants to specialized investors, this comprehensive guide will highlight the best-paying jobs in real estate for those aspiring to maximize their earning potential:
- Mortgage Loan Officer
- Commercial Real Estate Broker
- Real Estate Wholesaler
- House Flipper
- Home Inspector
- Real Estate Agent
- Real Estate Broker Associate
- Real Estate Attorney
- New Home Sales Consultant
- Investment Consultant
If you're looking to enter the real estate industry or explore new career paths, it's critical to identify the highest-paying real estate jobs. Real estate can offer substantial earning potential.
As a result, we’ve created this guide to help you explore the top 11 real estate careers in terms of average salary, providing valuable insights into the industry’s most rewarding jobs.
*Want to land a high-paying real estate job but don't know where to begin? We invite you to view our video on TOP 8 Real Estate Jobs WITHOUT A License! Host and CEO of Real Estate Skills, Alex Martinez, provides real estate jobs that don't require a license. See if you find a career path that compliments you!
11 Highest Paying Jobs In Real Estate
The sheer size of the real estate sector demands countless jobs and positions to keep it firing on all cylinders. Property managers, real estate appraisers, commercial real estate developers, leasing agents, mortgage brokers, real estate consultants, and sales agents are only a fraction of the careers in a growing industry.
As a result, the housing industry has one of the most significant degrees of optionality. Aspiring real estate professionals have the option to take on several careers. Therefore, we’ve compiled a list of the highest-paying real estate jobs that offer the most financial incentives.
The salaries presented below are from the 90th percentile across the United States (higher yearly salaries are considered outliers):
- Mortgage Loan Officer: Highest Potential Salary: $405,102
- Commercial Real Estate Broker: Highest Potential Salary: $296,500
- Real Estate Wholesaler: Highest Potential Salary: $360,000+ (12+ deals per year with $30,000 profit per assignment fee)
- House Flipper: Highest Potential Salary: $392,000 (7+ flips per year with $56,000 profit per deal)
- Home Inspector: Highest Potential Salary: $246,084
- Real Estate Agent: Highest Potential Salary: $194,045
- Realtor: Highest Potential Salary: $185,581
- Real Estate Broker Associate: Highest Potential Salary: $184,582
- Real Estate Attorney: Highest Potential Salary: $181,082
- New Home Sales Consultant: Highest Potential Salary: $152,677
- Investment Consultant: Highest Potential Salary: $147,266
*The highest annual salaries displayed above only account for base pay. Commissions for each respective possession can change the overall compensation.
What Is The Highest Paying Job In Real Estate In 2024?
The best-paying job in real estate as of February 3, 2024, is a mortgage loan officer. A mortgage loan officer in the United States earns an average salary of $182,422 and a highest potential salary of $405,102.
A mortgage loan officer is a professional who specializes in assisting borrowers in the process of applying for a mortgage to purchase or refinance a home.
They work for banks, credit unions, or other financial institutions and are responsible for gathering financial information from applicants, explaining different types of mortgage loans, and helping clients choose the best loan option based on their financial situation.
Mortgage loan officers also guide applicants through the loan application process, ensuring all necessary documents are submitted, and liaising between the borrower and the underwriting department to facilitate the approval of the loan.
According to recent nationwide data from ZipRecruiter, another highest-paying job in real estate is that of a commercial real estate broker, with an average salary of $196,249 and $296,500 in the 90th percentile.
A commercial real estate broker is a professional who specializes in facilitating transactions involving commercial properties, such as offices, retail spaces, warehouses, and other types of real estate used for business purposes.
They act as intermediaries between buyers and sellers, providing expertise in market analysis, valuation, and negotiation to help clients make informed decisions and complete transactions. Unlike residential brokers, commercial real estate brokers often work with investors, developers, and corporations, requiring a deep understanding of market trends, commercial lease structures, and investment strategies.
Real Estate Wholesaler
As one of today's highest-paying real estate jobs, wholesaling properties is a real estate investment strategy that will have investors acquire the rights to buy a home—only to sell their rights (which are theirs contractually) to an end buyer. To be clear, wholesalers don’t buy homes (unless they execute a double close). Instead, they acquire the right to buy a house and sell their right for a fee.
Wholesaling has earned its position amongst today’s highest-paid real estate jobs. If for nothing else, wholesaling offers opportunistic investors the ability to realize unlimited upside. Wholesale salaries are not fixed or standardized, and there is a wide range of potential earnings. Nonetheless, ZipRecruiter data shows wholesale salaries range from $23,686 to $96,223.
Typically, wholesalers charge a fee to end buyers, ranging from 5% to 10% of the acquisition price. However, some wholesalers may charge a flat fee, usually between $10,000 and $15,000. It's important to note that this field's specific salary and compensation structure depends entirely on various factors, like location, property value, and the ability to negotiate.
But don't just take our word for it! Watch our exclusive interview above with Chi, a real estate investor and student of the Pro Wholesaler VIP Program, located in Raleigh-Durham, North Carolina!
Chi was able to use Real Estate Skills' MLS Offer System to get his first wholesale deal while working a full-time job! Listen to his story below:
Of the highest-paying real estate jobs, few can stack up to the potential of house flipping. As its name suggests, house flipping is the act of buying real property, preferably below market value. Investors will then rehab and restore the home to its desired condition to increase its value. When all the renovations are completed, the investor will sell the home for more than they have invested.
According to ATTOM Data Solutions’ latest Home Flipping Report, seasoned house flipper profits "run between 20 percent and 33 percent of the property’s after-repair value."
The average gross profit on typical home flips in the United States increased to $56,000, or a 22.5% return on investment (ROI). While home flipping takes longer than wholesaling, investors who can complete several deals a year have the potential to increase their earnings almost exponentially. Completing one flip a quarter could result in $224,000 yearly at the average return.
*Sign Up For Our Free Training & Learn: How To Flip Houses & Wholesale Real Estate From The MLS...
A home inspector plays a crucial role in the real estate industry by examining properties to identify existing or potential structural issues. Homebuyers often hire home inspectors before closing a sale, while homeowners may seek their services before listing a property. By thoroughly assessing a property, home inspectors contribute to the safety and cost-effectiveness of homes.
The primary responsibility of a home inspector is to conduct comprehensive inspections and generate detailed reports to share with real estate agents and clients. While they identify issues during the inspection, home inspectors do not typically perform repairs. Instead, they coordinate with specialists and recommend repairs or maintenance as needed.
Again, a home inspector is one of the highest-paying jobs in real estate because of its complexity. Due to the critical nature of each inspection, inspectors make an average of $135,742, with the higher end of the salary range getting closer to $245,771 a year.
Real Estate Agent
Real estate agents are trained and licensed professionals who specialize in negotiating and facilitating real estate transactions. Acting on behalf of the buyer or the seller, agents guide clients through the entire process, from property showings to closing the deal within their clients’ budgets. They play a pivotal role in marketing listings, showing properties to prospective buyers, and collaborating with brokers and financial professionals to help clients secure financing.
One of the critical aspects of real estate agent compensation is the commission-based structure. Rather than earning a direct salary, agents receive a commission percentage of the sale price. Typically, the buyer's agent and the listing agent earn a commission ranging from 2.5% to 3% of the property's sale price.
This commission-based model gives agents the potential for high earnings, particularly in transactions involving properties with substantial sale prices. However, earnings potential is directly related to how many deals agents can complete in a given year. According to Indeed, the average real estate agent completes enough transactions to make about $96,514 a year.
A Realtor is a licensed professional who assists clients in buying, selling, and renting residential and commercial properties. Not unlike real estate agents, they serve as representatives for buyers or property owners, negotiating prices, handling contract conditions, and ensuring a smooth transaction process. To provide an added level of professionalism and adherence to ethical standards, however, Realtors are members of the National Association of Realtors (NAR); they must abide by the association's strict code of ethics and certifications.
Realtors’ affiliation with the NAR sets them apart from real estate agents. This affiliation signifies their commitment to upholding high standards of professionalism and integrity in their real estate practices. By adhering to the NAR's code of ethics, realtors provide added value to clients, assuring them of their commitment to fairness, transparency, and ethical conduct throughout the buying or selling process.
It is also assumed that Realtors make slightly more than their real estate agent counterparts because of their association with the NAR. With an average base salary of $97,037, Realtors make slightly more than real estate agents because buyers and sellers appear more willing to pay more for representatives who must adhere to a strict code of ethics.
Real Estate Broker Associate
Real estate broker associates are licensed professionals who work under a broker or corporation and focus on assisting buyers and sellers in real estate transactions. They play a crucial role in helping buyers find suitable properties and guiding sellers in listing them for sale. Broker associates work in real estate offices and possess strong negotiation and sales skills, ultimately displaying a deep understanding of the mortgage process.
While broker associates hold a real estate license, they work under another broker. This arrangement allows them to leverage the expertise and support of the supervising broker or corporation while focusing on assisting clients. Unlike brokers, they do not supervise other agents. They dedicate their efforts to providing exceptional service to buyers and sellers.
While real estate broker associates don’t all make commissions, their average base salary of $86,831 is very competitive. Perhaps even more importantly, higher-end salaries can reach as high as $179,325, according to Indeed reports.
Real Estate Attorney
One of the best-paying jobs in real estate, a real estate attorney is a licensed legal professional specializing in real estate law. Their expertise lies in navigating real estate transactions' complex legal and contractual aspects. With special licensing beyond the bar exam, real estate attorneys provide valuable assistance in ensuring the contract terms are in their client’s best interests.
Real estate attorneys can represent either the buyer or the seller in a transaction, and in some cases, they may also work with mortgage lenders or title companies. They prepare and review documents and contracts for selling or purchasing a real estate property; this includes examining contracts from other parties involved in the transaction to safeguard their clients' interests. Real estate attorneys are well-versed in the intricacies of real estate contracts and regulations, ensuring that all legal requirements are met.
Due to the complex nature of their tasks, real estate attorneys are compensated nicely, to the tune of about $99,321 a year. However, according to Indeed, those on the higher pay scale can earn as much as $172,488 per year.
New Home Sales Consultant
New home sales consultants are crucial in promoting and selling newly constructed homes to potential buyers. They represent property developers, showcase model homes, explain floor plans, and highlight each property's unique features and amenities. These professionals serve as the face of their company and are responsible for providing exceptional customer service throughout the sales process.
Representing the company with professionalism, friendliness, and positivity is paramount for new home sales consultants. They serve as clients' first point of contact, presenting themselves as knowledgeable and trustworthy advisors. By building strong client relationships, consultants establish trust and credibility, increasing the likelihood of successful sales and repeat business.
The average annual base salary for new home sales consultants is $76,056. However, the pay range can vary from $36,188 to $159,847, depending on experience, location, and clientele. Additionally, new home sales consultants make an average of $19,890 in annual commissions.
Real estate investment consultants are pivotal in guiding clients' investment decisions and providing valuable expertise and financial advice. Their primary responsibility is to assist clients in making sound investment choices by researching potential purchases and construction projects and conducting economic analyses to determine the profitability of their real estate portfolios. These professionals specialize in advising real estate investors and are focused on asset management and market trends rather than working with residential buyers and sellers.
It's worth noting that real estate investment consultants work closely with individual clients, providing personalized advice and recommendations based on their unique circumstances. Whether it's analyzing the financial feasibility of a specific property, assessing real estate market conditions, or developing a long-term investment strategy, these consultants serve as trusted advisors, helping clients make informed decisions that align with their goals.
Depending on their location, clientele, and experience, investment consultants can make anywhere from $36,135 to $159,879, according to the individual salaries reported to Indeed. However, the average wage is around $76,009—more than acceptable for a good career that doesn’t require finishing high school.
Highest Paid Real Estate Jobs: Frequently Asked Questions (FAQ)
Curious about the top-paying roles in real estate? Our FAQ section uncovers insights into the highest-paid real estate jobs:
What is the highest-paid real estate job?
The highest-paid real estate job often depends on various factors such as location, experience, and specialization. However, roles such as real estate investor, house flipper, and wholesaler are among the top contenders for high-paying positions, because of their limitless potential.
Read Also: 9 Best Real Estate Investments For Beginners
Where do Realtors get paid the most?
Areas where Realtors get paid most are primarily in the Northeast and out West, according to the National Association of Realtors. They presented these 10 states where real estate agents earn the most money on average:
- New York: $111,800 (average real estate agent salary)
- Massachusetts: $84,180
- Connecticut: $79,780
- Alaska: $79,360
- Colorado: $76,850
- Utah: $75,170
- California: $74,140
- Texas: $72,830
- Wyoming: $71,460
- Hawaii: $71,140
What is the highest level of real estate?
"Luxury" or high-end properties, including mansions, penthouses, and luxury estates. These properties often command premium prices and require specialized expertise in marketing, sales, and negotiation to cater to affluent buyers and sellers.
Can you make $1,000,000 a year in real estate?
While it's theoretically possible to earn $1,000,000 a year in real estate, achieving such high earnings typically requires significant experience, expertise, and a robust network of clients.
Successful real estate professionals, such as top-performing brokers, developers, and investment bankers, can potentially reach or exceed this income level through lucrative deals, commissions, and bonuses.
Final Thoughts On The Highest-Paying Jobs In Real Estate
The real estate industry offers diverse high-paying career opportunities. From real estate brokers and investment consultants to mortgage loan officers and home inspectors, these careers are some of the highest-paying real estate jobs in the industry. That said, not all jobs are created equal, so aspiring real estate professionals should take the time to find out what they want to do and what they want to be compensated for before they embark on a new career.
If you are looking for a real estate job salary that can help you realize financial freedom, look no further. These are the best jobs in real estate to pad your coffers, from entry-level positions to those needing a bachelor’s degree or years of experience.
At Real Estate Skills, our team of experts is ready to provide you with the tools you need to make money in the real estate industry. We're committed to providing the knowledge, resources, and support you need to increase your annual earnings. So avoid common mistakes and maximize your returns by leveraging our expertise.