Average Real Estate Brokers Salary in Virginia
Real Estate Brokers in Virginia earn an average annual salary of $68,980, which is notably below the national average of $91,770. This disparity is often influenced by a combination of regional market dynamics, the specific economic landscape of Virginia, and the overall demand for real estate services within the state's diverse metropolitan and rural areas.
Executive Summary
- Average Salary: $68,980 per year.
- Growth Trend: Salaries have shifted 15.5% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $99,390.
- Outlook: With a local workforce of 1,580 Real Estate Brokers and a Location Quotient of 1.21, Virginia demonstrates a concentration of these professionals slightly above the national average. This suggests a stable, and perhaps growing, demand for real estate brokerage services within the state, indicating a robust job market for experienced individuals.
Salary Overview
The average Real Estate Brokers in Virginia earns-24.8%below the national average.
$33.2
$1,327
$5,748
Real Estate Brokers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Real Estate Brokers in Virginia have experienced a gradual upward trend over the past four years, mirroring national patterns. Factors such as market fluctuations, increasing property values, and evolving consumer needs likely contribute to salary growth in this sector.
Real Estate Brokers Salary Distribution in Virginia
Salary progression for Real Estate Brokers in Virginia typically scales significantly with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned brokers with established clienteles and a proven track record can command substantially higher earnings, often reaching into the six figures. The percentile gaps in salary clearly signify the career progression and earning potential available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $45,800 | $22 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $51,735 | $24.9 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $55,660 | $26.8 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $86,225 | $41.5 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $99,390 | $47.8 |
Detailed Real Estate Brokers Market Analysis
Relocation Context
Nominal Salary
$68,980
Gross Pay
Real Wage (Purchasing Power)
$68,028
Adjusted for COL (101.4)
The average nominal salary of $68,980 in Virginia needs to be considered alongside the local Cost of Living Index of 101.4. This index indicates that the cost of living in Virginia is only slightly above the national average (100). Therefore, the reported salary offers a purchasing power that is relatively close to the national average, making Virginia a moderately affordable state for Real Estate Brokers.
Job Market Context
1,580
Total Jobs
0.388
Per 1K Jobs
1.21
Location Quotient
With a location quotient of 1.21, Virginia has a slightly higher-than-average concentration of Real Estate Brokers roles compared to the national norm.
A Location Quotient of 1.21 signifies that Real Estate Brokers are more concentrated in Virginia than the national average. This suggests a competitive market where demand is slightly higher than the national benchmark, potentially offering more opportunities for brokers who can differentiate themselves through specialized services or strong local market knowledge.
Nearby Job Markets
Nearby Cities for Real Estate Brokers
| City | Salary | Dist. |
|---|---|---|
| Richmond, VA Real Estate Brokers Salary | $57,920↓ 16% | 41 mi |
Comparing salaries near Virginia
Hiring Real Estate Brokerss?
Frequently Asked Questions
How much does a Real Estate Brokers make in Virginia?
The median annual salary for a Real Estate Brokers in Virginia is $68,980. This typically ranges from $45,800 for entry-level positions to $99,390 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Virginia is 24.8% lower than the national median of $91,770.
Is Virginia a lucrative place for Real Estate Brokers?
Moderately so, with potential for growth.While the average salary is below the national average, the slightly higher concentration of brokers suggests a healthy market. Experienced brokers can achieve higher earnings, especially in high-demand areas.
Is Virginia a good place to live for Real Estate Brokers?
The Cost of Living Index in Virginia is 101.4. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Virginia?
Some top paying nearby cities include Richmond, VA ($57,920) and others.
How does Virginia's cost of living affect a Real Estate Broker's salary?
Virginia's cost of living is just above the national average, meaning the $68,980 salary provides a purchasing power that is fairly comparable to the national average, making it a reasonable compensation level.
What is the job outlook for Real Estate Brokers in Virginia?
The outlook appears stable to positive, indicated by a Location Quotient slightly above the national average, suggesting a consistent demand for brokerage services within the state.
Can experience significantly increase a Real Estate Broker's salary in Virginia?
Absolutely. Senior brokers with extensive experience and a strong network typically earn considerably more than entry-level professionals, reflecting the value of expertise and client relationships.
Is the Real Estate Broker market in Virginia saturated?
With a Location Quotient of 1.21, the market is slightly more concentrated than the national average, implying a competitive environment, but also a robust demand for skilled professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,580 employees in the Virginia area with a job density of 0.388 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Real Estate Brokers Salaries by State
Top Jobs in Virginia
- All Occupations Salary in Virginia
- Office and Administrative Support Occupations Salary in Virginia
- Business and Financial Operations Occupations Salary in Virginia
- Sales and Related Occupations Salary in Virginia
- Food Preparation and Serving Related Occupations Salary in Virginia
- Transportation and Material Moving Occupations Salary in Virginia
- Management Occupations Salary in Virginia
- Educational Instruction and Library Occupations Salary in Virginia
- Computer and Mathematical Occupations Salary in Virginia
- Healthcare Practitioners and Technical Occupations Salary in Virginia
- Browse All Jobs in Virginia →
Semantic Salary Analysis for Real Estate Brokers • Data source: BLS OEWS 2024 •Jobs in Virginia