Rising Earnings in Sydney’s Real Estate Market
A Sydney real estate agent has revealed that he earns approximately $400,000 annually after over a decade in the industry, placing him alongside some of the highest-earning professionals in Australia, such as surgeons and anaesthetists. This declaration was made during an interview with Getahead, a viral jobs app that quizzes individuals on their salaries.
The agent began his career eleven years ago, landing a position at a real estate agency after a spontaneous invitation to an open day. He noted, “I just went straight into sales,” and emphasised that it took about five years for him to start seeing significant financial rewards in real estate.
While his earnings are remarkable, they do far exceed the average salaries in the sector. According to data from the Australian Taxation Office (ATO), the average income for real estate agents in the 2022-23 financial year was $100,531, with a median income of $69,157 among the 76,292 people employed in the field. Breaking it down further, male agents earned an average of $129,743, while females earned approximately $78,817.
Real estate commissions, which constitute a large part of an agent’s income, are usually a percentage of the property’s sale price and are open to negotiation. The highest sale this agent reported was a staggering $35 million property sold last year, with aspirations to sell a home exceeding the $100 million mark in the future.
Despite the potential for high earnings, the job demands significant hours. The agent works from 7:30 AM to 6 PM on weekdays, conducts open home viewings on Saturdays, and only has Sundays off.
In a similar vein, Sunshine Coast agent Ethan Forbes shared his experiences of earning $300,000 annually after just two years in real estate. He recounted the efforts he put in during his first year, working lengthy 12-hour days six to seven days a week. Last financial year, he reported gross commission income exceeding $500,000, which is then split with his agency, LJ Hooker.
The Sydney agent offered advice for newcomers looking to thrive in real estate: “Surround yourself with the right people. Try to get into a high-performing team. Being among like-minded individuals can open doors to greater opportunities.”
At an annual salary of $400,000, this agent’s earnings are close to those of Australia’s highest-paying professions. According to ATO data, the latest rankings of top-paying jobs indicate that surgeons lead with an average salary of $472,475, followed by anaesthetists at $447,193, and financial dealers with an average income of $355,233.
In conclusion, while real estate in Sydney presents lucrative opportunities, it necessitates considerable commitment and long hours to achieve such rewarding outcomes. The journey from entry-level to high earning potential can take time, underscoring the importance of perseverance and maintaining a strong professional network.
