If you’re seeking a career in Wisconsin’s real estate industry, you’re likely wondering, “How much does a real estate agent make in Wisconsin?” Understanding the job’s earning potential is crucial for making an informed decision about pursuing this career path.
This article will cover the factors that can influence the real estate agent salary in Wisconsin, including average salary figures, experience levels, commission structures, and other work-related expenses.
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Real Estate Agent Salary Wisconsin
Several factors can influence a real estate agent’s salary in Wisconsin, such as:
- Experience: An agent’s average salary in Wisconsin is $83,446 per year. Agents with more experience and a proven track record of successful transactions often have an advantage and earn more money
- Market Conditions: During periods of high demand and limited inventory, real estate agents may have more opportunities to close deals and potentially earn higher commissions
- Sales Performance: Agents who consistently achieve high sales volumes and meet or exceed their targets likely will earn more through commissions
- Work Hours: Many real estate agents have flexible schedules, allowing them to work evenings, weekends, and holidays to accommodate their clients’ needs. The number of hours an agent invests in their business can directly impact their productivity and, consequently, their earnings
- Location: Different areas within Wisconsin have varying property values, demand, and market dynamics. Agents working in the highest-paying cities like Milwaukee get to handle higher-priced properties, which generally have the potential for higher commissions
These are just a few of the many factors that may influence an agent’s income. Agreed-upon commission rates and other work-related expenses also can impact their take-home pay.
Interested in becoming a real estate agent? Check out our How to Get Your Wisconsin Real Estate License guide.
A common commission structure in Wisconsin is based on a percentage of a property’s final sale price — typically 5% to 6%. The seller’s agent (also called a listing agent), the buyer’s agent, and their respective brokerage companies usually split the commission earnings.
If a home sells for $300,000 with a commission rate of 5%, for example, the commission would total $15,000. If the seller’s and buyer’s agents divide this evenly, both would be paid $7,500.
Brokerage companies often take a portion of the commissions earned by the agents who work with them. The specific percentage varies based on the split agreement between an agent and their broker. If one of the agents in the example above has a 70-30 split agreement, they’d keep $5,250 and their broker would get the remaining $2,250.
These numbers can vary in practice. Commission structures and percentages also are subject to negotiation between an agent and their clients or the broker for whom they work.
Along with the potential for considerable earnings, real estate agents also incur a variety of job-related expenses. Some common examples include:
- Licensing Fees: To keep their license active, an agent must periodically renew it and regularly complete continuing education (CE) courses to stay updated on industry regulations and practices. Both activities come with additional fees
- Marketing and Advertising Costs: To attract clients and promote their services, agents often invest in online advertising, creating and maintaining a professional website, printing business cards and brochures, running social media campaigns, and hosting open houses
- Professional Fees and Membership Dues: Many real estate agents join professional associations and organizations, such as the National Association of Realtors (NAR) or local real estate boards. These memberships usually come with annual dues or fees
- Office and Technology Expenses: Office-related expenses can include rent, utilities, internet services, office supplies, and furniture. Many agents also invest in computer equipment, smartphones, customer relationship management (CRM) and transaction management software, and other digital tools
While real estate agents have the potential to earn substantial incomes, it’s important to recognize the business expenses associated with the profession. You must carefully manage your finances, budget effectively, and plan for these variable expenses to ensure long-term profitability in your career.
How to Become a Real Estate Agent in Wisconsin
To work as a real estate agent in Wisconsin, you must take several steps to obtain a real estate license. These steps include:
- Complete pre-licensing education. Aspiring agents must complete 72 hours of pre-licensing education from a state-approved real estate education provider. The coursework includes two 30-hour courses (“Real Estate Principles” and “Real Estate Practices”) along with a 12-hour, state-specific course (“Wisconsin Real Estate Law”).
- Pass the state licensing exam. After completing your pre-licensing education, you must pass the Wisconsin real estate salesperson exam. Administered by Pearson VUE, the exam includes both a national section and a state-specific section.
- Find a sponsoring broker. In Wisconsin, you need to work under the supervision of a licensed real estate broker. If you have a prospective firm, the broker must complete the top section of your license application form.
- Submit your license application. You should submit your completed salesperson license application to the Wisconsin Department of Safety and Professional Services (DSPS). As part of the application process, you must provide details on your pre-license education, your passing exam score, and your sponsoring broker information. You’ll also need to pay the application fee.
By following these steps, you can become a licensed real estate agent in Wisconsin. As you embark on a career in this state’s real estate industry, you can specialize in niche markets and earn commissions.
For Wisconsin real estate pre-licensing education classes, StateRequirement recommends:
Real Estate Agent Salary Wisconsin FAQ
What is the average salary of a real estate agent in Wisconsin?
The average salary of real estate sales agents in Wisconsin is $83,446 per year. Individual earnings can be higher or lower, depending on an agent’s experience level, market conditions, and other factors. Visit our Real Estate Agent Salary page for more information about agent salaries.
How much does a realtor make in Wisconsin?
The income of a realtor in Wisconsin can vary, depending on their experience and expertise as well as market conditions. Currently, the average base salary for realtors in Wisconsin is $84,618 per year, but individuals can earn more or less based on their experience and skills as well as market conditions.
How many hours does it take to become a real estate agent in Wisconsin?
To become a real estate agent in Wisconsin, you must complete 72 hours of pre-licensing education from an approved real estate school. This includes two 30-hour courses (“Real Estate Principles” and “Real Estate Practices”) along with a 12-hour, state-specific course (“Wisconsin Real Estate Law”).
How much is a Wisconsin real estate license?
The fees associated with obtaining a real estate license include the license application fee ($75), the pre-licensing education course fee (around $300 to $400), and the licensing exam fee ($65 per attempt).
How do I get into real estate in Wisconsin?
To get into real estate in Wisconsin, you must meet the basic age requirement (18 years or older), complete the required pre-licensing education, pass the Wisconsin real estate salesperson exam, find a sponsoring broker, and submit your license application. Learn more about the licensing process with our step-by-step guide on How to Get Your Wisconsin Real Estate License.