One of the most common questions that prospective real estate professionals ask is how much money they can expect to earn. We usually withhold such revelations because income can vary greatly, depending on experience, location, client base and number of hours worked.
However, the U.S. Bureau of Labor Statistics (BLS) keeps salary figures on the real estate broker profession that serve as useful comparisons. As of this posting, the government agency reveals that Illinois brokers average $77,470 per year, with the upper 10 percent making over $175,120 annually. (Brokers are called sales agents by the BLS and in other parts of the country.) The state ranks fifth among all others in broker compensation. These amounts are far higher than the average $47,180 made by all workers in Illinois, and the $89,090 made by the upper 10 percent of workers in the state.
The highest-paying location for brokers is in Lake County, where the average yearly salary reaches $89,200 and the highest earners make over $187,199.
The lowest-paying location is Peoria, Illinois, with a mean at $30,830 per year and a high of $39,600.
Our Illinois real estate courses can start you on the path to these high wages. You can choose a live classroom program, which requires 45 hours of in-class lectures, 30 hours of home study and then a 15-hour session in class. You can also pick a 75-hour, self-study course that features 15 hours of in-class interaction. Completing either version grants you the confidence to take and pass the state licensing exams. We also have higher-level courses that teach you how to manage your own real estate office.
For more information on any of our educational programs, please contact us today.
