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Average Real Estate Sales Agents Salary in Richmond, VA

Real Estate Sales Agents in Richmond, VA, command an average annual salary of $72,700, surpassing the national average of $70,360. This elevated compensation reflects the specific economic dynamics and housing market conditions prevalent in the Richmond area, influencing demand and agent remuneration.

Executive Summary

  • Average Salary: $72,700 per year.
  • Growth Trend: Salaries have shifted 12.3% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $107,270.
  • Outlook: With a local workforce of 630 Real Estate Sales Agents and a Location Quotient of 0.78, Richmond presents a slightly less concentrated market compared to the national average. While not a major hub for this profession, the presence of nearly one job per thousand workers indicates a stable, albeit moderate, demand for real estate services within the region.
2024 Market Data

Salary Overview

$72,700

The average Real Estate Sales Agents in Richmond, VA earns+3.3%above the national average.

BreakdownBased on 40h/week
Hourly

$35

Weekly

$1,398

Monthly

$6,058

Real Estate Sales Agents Salary Distribution in Richmond, VA

Career progression for Real Estate Sales Agents in Richmond, VA, is typically marked by increasing earning potential. Entry-level agents may start closer to the lower percentiles, while seasoned professionals with a proven track record and extensive client networks can achieve salaries significantly above the average, often reaching the higher percentiles.

Experience LevelMarket PercentileAnnual WageHourly Rate
SDR / BDRLead generation, prospecting, cold calling.10% (Entry)$39,200$18.8
Account ExecutiveClosing deals, managing small-mid market clients.25% (Junior)$54,525$26.2
Senior AEHandling enterprise clients and complex negotiations.50% (Median)$66,550$32
Sales ManagerManaging a team of reps, setting quotas & strategy.75% (Senior)$90,875$43.7
VP of SalesRevenue strategy, expansion, C-suite relationships.90% (Expert)$107,270$51.6

Detailed Real Estate Sales Agents Market Analysis

Relocation Context

Nominal Salary

$72,700

Gross Pay

Real Wage (Purchasing Power)

$72,700

Adjusted for COL (100)

The average salary of $72,700 in Richmond, VA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Real Estate Sales Agent's income in Richmond is equivalent to the national standard, offering a stable financial environment for residents.

Job Market Context

630

Total Jobs

0.961

Per 1K Jobs

0.78

Location Quotient

Below Average

Richmond, VA has 0.78x the national average concentration of Real Estate Sales Agents jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.

A Location Quotient of 0.78 suggests that Richmond, VA, has a slightly lower concentration of Real Estate Sales Agents relative to the national average. This indicates that while the profession is established, the market may not be oversaturated, potentially offering good opportunities for skilled agents to establish themselves and build a client base.

Nearby Job Markets

Nearby Cities for Real Estate Sales Agents

CitySalaryDist.
Southside Virginia nonmetropolitan area Real Estate Sales Agents Salary$44,570↓ 39%41 mi
Northern West Virginia nonmetropolitan area Real Estate Sales Agents Salary$63,890↓ 12%41 mi
Southwest Virginia nonmetropolitan area Real Estate Sales Agents Salary$49,470↓ 32%41 mi

Comparing salaries near Richmond, VA

Hiring Real Estate Sales Agentss?

Frequently Asked Questions

How much does a Real Estate Sales Agents make in Richmond, VA?

The median annual salary for a Real Estate Sales Agents in Richmond, VA is $72,700. This typically ranges from $39,200 for entry-level positions to $107,270 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Richmond, VA is 3.3% higher than the national median of $70,360.

Is Richmond, VA a lucrative place for Real Estate Sales Agentss?

Yes, Richmond, VA offers a lucrative environment for Real Estate Sales Agents.The average salary of $72,700 is higher than the national average, and with a cost of living at the national average, your earnings provide strong purchasing power.

Is Richmond, VA a good place to live for Real Estate Sales Agents?

The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Richmond, VA?

Some top paying nearby cities include Southside Virginia nonmetropolitan area ($44,570) and Northern West Virginia nonmetropolitan area.

How does the Richmond job market compare to the national average for Real Estate Sales Agents?

Richmond has a slightly lower concentration of Real Estate Sales Agents compared to the national average, indicated by a Location Quotient of 0.78, suggesting a less saturated market.

What is the average salary for a Real Estate Sales Agent in Richmond, VA?

The average annual salary for a Real Estate Sales Agent in Richmond, VA is $72,700.

How does the cost of living in Richmond affect salary expectations?

Richmond's cost of living is exactly at the national average (100), meaning the $72,700 salary offers purchasing power equivalent to the national median.

What does the total local workforce number signify for Real Estate Sales Agents in Richmond?

A total local workforce of 630 indicates a substantial presence of agents, suggesting a consistent demand for real estate services within the Richmond metropolitan area.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 630 employees in the Richmond, VA area with a job density of 0.961 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Real Estate Sales Agents • Data source: BLS OEWS 2024 •Jobs in Richmond, VA