A real estate agent is a licensed professional who arranges real estate transactions, putting buyers and sellers together and acting as their representatives in negotiations.
Real estate agents usually are compensated completely by a commission a percentage of the property’s purchase price so their income depends on their ability to close a deal.
Below are salaries earned by a Real Estate Agent E In South Africa
A person working as a Real Estate Agent in South Africa typically earns around 28,400 ZAR per month. Salaries range from 13,100 ZAR (lowest) to 45,200 ZAR (highest).
This is the average monthly salary including housing, transport, and other benefits. Real Estate Agent salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Real Estate Agent Salary Distribution in South Africa
The median, the maximum, the minimum, and the range
Real Estate Agent salaries in South Africa range from 13,100 ZAR per month (minimum salary) to 45,200 ZAR per month (maximum salary).
The median salary is 30,700 ZAR per month, which means that half (50%) of people working as Real Estate Agent(s) are earning less than 30,700 ZAR while the other half are earning more than 30,700 ZAR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Real Estate agents (s) are earning less than 19,700 ZAR while 75% of them are earning more than 19,700 ZAR. Also from the diagram, 75% of Real Estate agents (s) are earning less than 41,000 ZAR while 25% are earning more than 41,000 ZAR.
Real Estate Agent Salary Comparison by Years of Experience
How do experience and age affect your pay?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Real Estate Agent salaries by experience level and this is what we found.
A Real Estate Agent with less than two years of experience makes approximately 14,900 ZAR per month.
While someone with an experience level of between two and five years is expected to earn 19,800 ZAR per month, 34% more than someone with less than two years of experience.
Moving forward, an experience level between five and ten years lands a salary of 29,300 ZAR per month, 48% more than someone with two to five years of experience.
Additionally, Real Estate Agent(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 35,800 ZAR per month, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 39,000 ZAR per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 42,200 ZAR per month, 8% more than people with fifteen to twenty years of experience.
Real Estate agent’s average salary changes by experience in South Africa
|0 – 2 Years||14,900 ZAR|
|2 – 5 Years||+34%||19,800 ZAR|
|5 – 10 Years||+48%||29,300 ZAR|
|10 – 15 Years||+22%||35,800 ZAR|
|15 – 20 Years||+9%||39,000 ZAR|
|20+ Years||+8%||42,200 ZAR|
Real Estate Agent Salary Comparison By Education
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Real Estate Agent salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Real Estate Agent is 16,900 ZAR per month.
While someone with a Certificate or Diploma gets a salary of 26,600 ZAR per month, 57% more than someone having a High School degree.
A Bachelor’s Degree gets its holder an average salary of 44,600 ZAR per month, 68% more than someone with a Certificate or Diploma.
Real Estate Agent average salary difference by education level in South Africa
|High School||16,900 ZAR|
|Certificate or Diploma||+57%||26,600 ZAR|
|Bachelor’s Degree||+68%||44,600 ZAR|
Real Estate Agent Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Real Estate Agent employees in South Africa earn 12% more than their female counterparts on average.
Real Estate Agent Average Annual Salary Increment Percentage in South Africa
How much are annual salary increments in South Africa for Real Estate Agent(s)?
How often do employees get salary raises?
Real Estate Agent
Real Estate Agent(s) in South Africa are likely to observe a salary increase of approximately 11% every 18 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months
Real Estate Agent Bonus and Incentive Rates in South Africa
How much and how often are bonuses being awarded?
A Real Estate Agent is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
17% of surveyed staff reported that they haven’t received any bonuses or incentives in the previous year while 83% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
Real Estate Agent Average Hourly Wage in South Africa
The average hourly wage (pay per hour) in South Africa is 160 ZAR. This means that the average Real Estate Agent in South Africa earns approximately 160 ZAR for every worked hour.
How does a real estate agent get paid in South Africa?
These agents work a two to four hour day and because real estate is not really a half-day job, will earn the average income for most agents in South Africa, which is around R16,000 to R20,000 per month before tax and running costs.
How do I become a successful real estate agent in South Africa?
Step 1: Apply for a position at a registered estate agency as an intern.
Step 2: Register with the Estate Agency Affairs Board (EAAB)
Step 3: Complete your 12 Month Internship.
Step 4: Complete NQF 4 Through an Accredited Provider (150 Points / 1500 Hours)
Do I need to matric to become a real estate agent in South Africa?
Do you need matric to become an estate agent? A degree is not required to become an estate agent, but strong competition often makes the relevant experience and/or qualifications necessary. A degree in an appropriate subject such as marketing, business, property studies, or real estate can be helpful.
What subjects do you need to become a real estate agent in South Africa?
Requirements for a career in Real Estate:
Recommended High School Subjects: Subjects within Business, Commerce & Management Studies, and within Services.
Other requirements: 12-month internship, FETC Real Estate NQF Level 4, PDE exam, Intern Logbook (or an exemplifying qualification or degree)
Where can I study real estate in South Africa?
WHERE CAN I STUDY?
The University of the Witwatersrand. Bachelor of Science: Property Studies.
UNISA. National Diploma: Real Estate. www.Unisa.ac.za.
The University of Johannesburg. National Diploma: Real Estate.
The University of Cape Town. Bachelor of Science: Property Studies.
How long does it take to become a real estate agent in South Africa?
about four to six months
You can become a real estate agent in about four to six months, depending on where you live. Online relicensing classes can speed up the process. Requirements vary by state, but the general steps are to take a real estate relicensing course, take the licensing exam, activate your license, and join a brokerage.