If you’re considering a career in real estate or exploring the financial landscape of New Hampshire’s real estate industry, one thing you’ll want to know is, “How much does a real estate agent make in New Hampshire?”
This article examines the key factors that can influence the average real estate agent salary in New Hampshire — from an agent’s location and experience level to local economic and market conditions. It’ll also discuss how commission structures work and how they contribute to an agent’s earnings.
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Real Estate Agent Salary New Hampshire
The salary of a real estate agent can depend on a variety of factors, including:
- Experience: The average salary for agents in New Hampshire is around $76,934 per year. More experienced agents generally earn higher salaries because they have more expertise and a larger network of clients
- Location: The geographical area in which an agent operates can greatly impact their salary. The highest-paying cities, such as Manchester and Nashua, have more expensive properties and more active real estate markets that can result in higher agent commissions
- Sales Performance: Because real estate agents often work on commission, their earnings depend on their ability to sell properties. Agents who are effective at marketing properties and negotiating deals can generally earn more money
- Economic Climate: The state of the economy also can influence a real estate agent’s salary. More people may seek to buy and sell properties in times of economic growth, which can lead to more business for real estate agents. Conversely, the real estate market can slow during an economic downturn and thus reduce agents’ incomes
- Work Hours: Real estate agents who work on a part-time basis or who split their time among various responsibilities may earn less than those who work a full-time schedule and focus solely on their real estate practice
Salaries can vary greatly among real estate agents because their income depends on commissions from sales vs. a standard hourly wage or salary. As a result, these factors can create a wide range of potential income levels.
Interested in becoming a real estate agent? Check out our How to Get Your New Hampshire Real Estate License guide.
The commission structure for real estate agents in New Hampshire largely depends on:
- The agreement between an agent and their brokerage firm
- The seller’s agreement with their agent
- The buyer’s agreement with their agent
The standard commission rate is 5% to 6% of a property’s sale price, which the buyer’s agent and the seller’s agent (listing agent) usually split. This means if a house sells for $300,000 with a 6% commission rate, for example, the commission would total $18,000. If the buyer’s and seller’s agents split the commission evenly, each would receive $9,000.
Agents then often have to share their commissions with their brokerage firm. The specifics of this split can vary widely. Some brokerage companies may take as much as 50% of an agent’s commission while others may take less — especially if the agent is highly experienced or successful. Some brokerage firms also use a flat-fee structure in which they take a set amount from each transaction rather than a percentage.
The commission rate isn’t set in stone and can be negotiated between the seller and their agent. Furthermore, some buyers may have an agreement with their agent that involves paying a direct fee for services.
Real estate agents often have a range of variable expenses associated with their business. These can include:
- Licensing Fees: Real estate agents must obtain a license in order to legally manage property transactions, and this involves paying for initial education courses, testing fees, and license fees. Additionally, they often need to take continuing education courses to keep their license active
- Office Expenses: Even if an agent primarily works from home, they may still have costs related to office supplies, software, technology (e.g., a computer, tablet, or smartphone), and, potentially, a home office space
- Marketing Fees: This can include costs related to advertising properties (both online and in print), hosting open houses, commissioning professional photography or videography, creating virtual tours, hiring property staging services, and designing promotional materials like signs, flyers, or business cards
- Real Estate Association Dues: Many agents are members of local, state, and national real estate associations (e.g., the National Association of Realtors) and/or listing services like Clever Real Estate and the American Real Estate Society. These organizations typically charge annual dues
An agent’s expenses can vary, depending on how they choose to run their business, their sales volume, and their geographic location. Importantly, every real estate agent should carefully track their expenses for tax purposes and to help them manage their business effectively.
How to Become a Real Estate Agent in New Hampshire
Becoming a real estate agent involves a licensing process that includes education, passing a licensing exam, and completing ongoing training. Here are the key steps you must take to get a real estate license in New Hampshire:
- Complete pre-licensing education: To start, you’ll need to complete 40 hours of approved real estate pre-licensing education. You can usually take these courses — which cover topics like real estate law, ethics, contracts, and property management — in person or online.
- Pass the New Hampshire real estate exam: After you complete your education requirements, you can take the New Hampshire real estate salesperson exam. It includes two parts: a national section on general real estate principles and practices and a state-specific section. You must pass both sections.
- Submit your license application: Once you pass the exam, you can apply for a license through the New Hampshire Real Estate Commission. Your application must include proof of your completed pre-licensing education, your exam results, your application fee, and any other required documents.
- Find a sponsoring broker: To become an active real estate agent, a licensed New Hampshire real estate broker must sponsor you. This broker will usually provide further training and mentorship as you begin your new career.
Obtaining a license as a real estate agent is crucial because it ensures you meet the legal and professional standards to practice in New Hampshire. It also will help you build credibility with clients and gain access to multiple listing service (MLS) platforms essential for buying and selling properties.
For New Hampshire real estate pre-licensing education classes, StateRequirement recommends:
Real Estate Agent Salary New Hampshire FAQ
How much money do real estate agents make in New Hampshire?
The average income for real estate agents depends on factors like experience, market conditions, and the number of properties sold. Currently, the average real estate salary for an agent in New Hampshire is $76,934. To learn more about real estate agent salaries, read our How Much Does a Real Estate Agent Make article.
How much does it cost to become a realtor in New Hampshire?
The cost to become a realtor in New Hampshire includes pre-licensing education (around $300 to $400), exam fees ($155), license application fees ($90), and background check fees ($25), among other fees. A realtor is a member of the National Association of Realtors (NAR), and they must have a license to practice real estate in New Hampshire.
What is the highest-paid real estate agent?
Luxury real estate agents or brokers can earn significantly higher pay than other agents because they deal with high-value properties and their commissions are a percentage of the sale price. However, the luxury market can be more competitive and demanding so it requires exceptional marketing skills, an extensive client network, and a deep understanding of luxury clients’ needs.
Do real estate agents in New Hampshire need a license?
Yes. Real estate agents in New Hampshire must obtain a license from the New Hampshire Office of Professional Licensure and Certification. This involves completing a pre-licensing education course, passing an exam, applying for a license, and securing sponsorship from a licensed broker.
What expenses might a real estate agent in New Hampshire have?
Real estate agents can incur a range of business-related expenses, including marketing fees, transportation costs, office expenses, brokerage fees, insurance premiums, licensing and education fees, professional association dues, and more. For more information on how to become a real estate sales agent, go to our Real Estate Salesperson Licensing page.