(**) Disclosure: This post may contain affiliate links, meaning RealEstateCareerHQ.com will get a commission if you decide to make a purchase through the links, but at no additional cost to you.
Most real estate agents are self-employed and do not receive a fixed salary. Instead, they receive a commission upon successfully closing a real estate transaction. This can be a purchase, sell, or leasing out a property.
Real estate agents in Arkansas earn an average yearly income of $65,918, typically range between $45,824 and $88,123. Top earning real estate sales agents are making as high as $132,186 per year.(*)
At the beginning phase in your real estate career, you probably would not make a lot, because it takes time to build up the client base and established trust with prospects. As you continue to gain experience and refine your business process, you should be able to notice a significant improvement to your earning.
In this guide, I will uncover how much do Arkansas real estate agents make per sale, the areas with top-earning salespeople, and whether being a commercial or residential agent has any effect on the income.
(*) Source: ZipRecruiter (Aug 4, 2021)
How much commission do real estate agents make in Arkansas?
Clever Real Estate surveyed 915 local agents and found that the average real estate commission rate in Arkansas is 5.91%. This is usually split between the buyer’s broker and the seller’s broker.
How much do real estate agents make per sale in Arkansas?
Real estate agents make an average of $2,950 per sale in Arkansas.
Here’s the calculation.
- According to RedFin, the median sale price of houses in Arkansas is $200,000.
- The commission generated from such a real estate transaction will be $200,000 X 5.9% = $11,800.
- Assume it is split equally at 50% between the brokers, so each real estate brokerage will receive $11,800 X 50% = $5,900.
- For starter agents, many firms would offer them a 50/50 commission split. So the amount of commission that ends up in a real estate agent’s pocket will be $5,900 X 50% = $2,950.
As your business volume grows, you may negotiate a higher commission rate with your broker. This usually happens when you already have an effective business process and require less support from your brokerage.
Furthermore, how much you can earn per sale also depends on the price range of the properties that you work with.
What percentage do real estate agents make in Arkansas?
Top 10 Highest Paying Cities for Real Estate Agent in Arkansas
| City | Annual Salary |
|---|---|
| North Little Rock | $77,702 |
| Little Rock | $76,715 |
| Hot Springs | $75,224 |
| Springdale | $74,906 |
| Fayetteville | $74,350 |
| Jonesboro | $72,591 |
| Bentonville | $67,902 |
| Rogers | $67,348 |
| Conway | $67,138 |
| Fort Smith | $66,106 |
Source: ZipRecruiter (Aug 04, 2021)
According to RedFin, Hot Springs Village, North Little Rock, Little Rock, and Conway, also have the Fastest Growing Sales Price.
So what are the factors that make one salesperson make more than the others? Is it their education? The time they put into the business? Here’s a “Real Agent Income Guide”, where I uncover the factors that could affect your income significantly.
How much do residential real estate agents make in Arkansas?
A residential real estate agent is a professional who helps people buy and sell homes. They also help with other aspects of the process, such as property tour, open houses, negotiating a home’s price, and drafting up contracts for both parties to sign.
Residential real estate agents in Arkansas earn an average yearly income of $64,954, typically range between $44,061 and $83,717. Top earners are making as high as $88,123 per year.(*)
(*) Source: ZipRecruiter (Aug 2021)
How much do commercial real estate agents make in Arkansas?
Commercial real estate agents work with business owners to find them the right property for their business. They could be working in a variety of industries, from retail and commercial office space to warehouses and industrial properties.
Many businesses prefer to rent office space rather than buying it, especially for small startup businesses. Therefore, CRE agents also help clients in managing the lease. They receive a percentage of the total lease.
Once the lease is signed, the CRE agent is usually paid a portion upfront and the remainder when the tenants move into a property.
Commercial Real estate agents in Arkansas earn an average yearly income of $56,841, typically range between $28,640 and $66,092. Top earning CRE agents are making as high as $132,185 per year.(*)
(*) Source: ZipRecruiter (Aug 2021)
Do “Residential” or “Commercial” real estate agents make more in Arkansas?
When reviewing the figures from ZipRecruiter, residential real estate agents ($64,954) have a higher average annual income than commercial real estate agents ($56,841).
However, when comparing the top earners among the two groups, commercial real estate agents ($132,185) make more than residential real estate agents. ($88,123.)
This is not saying one niche is better than the other. After all, many different factors could affect the earning of a real estate salesperson, and the type of properties is only one of them.
Here’s another post I wrote which covers different variables that could affect a sales agent’s income. Be sure to check it out.
Here are more helpful resources about the Arkansas real estate career
This article is part of the “Arkansas Real Estate Career Series.” If you want to know more about being a real estate agent in Arkansas, I invite you to check out the following articles:
- How to Become a Real Estate Agent in Arkansas?
- How to Pass the Arkansas Real Estate Exam?
- Effective Strategies for Real Estate Agents in Arkansas
Looking to succeed in the real estate industry? Subscribe to our exclusive email list today and gain access to expertly curated real estate guides from industry leaders, as well as discounted CE courses and the latest industry updates. From marketing strategies to virtual staging techniques, our handpicked resources cover everything you need to know to stay ahead of the game. Click here for more details!
(**) Affiliate Disclosure: Please note that some of the links above are affiliate links, and at no additional cost to you. Our company, JCHQ Publishing will earn a commission if you decide to make a purchase after clicking on the link. Please understand that we include them based on our experience or the research on these companies or products, and we recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something through the links. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Disclaimer: The information in this post is for general information only, and not intend to provide any advice. They are subjected to change without any notice, and not guaranteed to be error-free. Some of the posts on this site may contain views and opinions from individual not related to JCHQ Publishing. They do not necessarily reflect our view or position.
Reference:
- ZipRecruiter
- Bureau of Labor Statistics – Real Estate Agents (Source)
- clever – What’s the Average Arkansas Real Estate Commission in 2021 (source)
- RedFin – Arkansas Housing Market (source)
