Average Real Estate Sales Agents Salary in Roanoke, VA
Real Estate Sales Agents in Roanoke, VA, earn an average annual salary of $57,820. This figure is notably below the national average of $70,360, suggesting that local market dynamics, property values, and commission structures in Roanoke contribute to this compensation difference. Understanding these localized factors is crucial for agents operating within this specific Virginia market.
Executive Summary
- Average Salary: $57,820 per year.
- Growth Trend: Salaries have shifted 3.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $98,640.
- Outlook: With a total local workforce of 280 Real Estate Sales Agents, Roanoke presents a moderately concentrated market. The Location Quotient of 1.48 indicates a higher prevalence of these professionals compared to the national average, suggesting a stable demand for real estate services within the region. The 1.829 jobs per 1,000 workers further reinforces the presence of a consistent job market for this role.
Salary Overview
The average Real Estate Sales Agents in Roanoke, VA earns-17.8%below the national average.
$27.8
$1,112
$4,818
Real Estate Sales Agents Salary Trends (2020-2024)
While specific historical data for Roanoke is not provided, it is reasonable to assume that salaries for Real Estate Sales Agents have experienced growth over the past four years, mirroring national trends. Factors such as market recovery, increased housing demand, and evolving sales strategies likely contribute to upward salary adjustments, even if the pace varies locally.
Real Estate Sales Agents Salary Distribution in Roanoke, VA
Salary progression for Real Estate Sales Agents in Roanoke, VA, typically correlates with experience. Entry-level agents may start at the lower end of the pay scale, often relying heavily on commissions. As agents gain experience, build client networks, and achieve higher sales volumes, their earnings can significantly increase, moving them into higher percentile brackets and reflecting greater career advancement.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $38,140 | $18.3 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $43,365 | $20.8 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $48,530 | $23.3 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $72,275 | $34.7 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $98,640 | $47.4 |
Detailed Real Estate Sales Agents Market Analysis
Relocation Context
Nominal Salary
$57,820
Gross Pay
Real Wage (Purchasing Power)
$57,820
Adjusted for COL (100)
The average annual salary of $57,820 in Roanoke, 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 Roanoke is equivalent to the national average, offering a stable financial environment without the pressure of higher or lower living expenses.
Job Market Context
280
Total Jobs
1.829
Per 1K Jobs
1.48
Location Quotient
With a location quotient of 1.48, Roanoke, VA has a slightly higher-than-average concentration of Real Estate Sales Agents roles compared to the national norm.
Roanoke, VA, exhibits a Location Quotient of 1.48 for Real Estate Sales Agents, signifying a job market that is 48% more concentrated than the national average. This suggests that the role is relatively more common or in higher demand in Roanoke compared to other areas, potentially leading to a competitive environment for new entrants but also indicating a robust ecosystem for experienced professionals.
Nearby Job Markets
Nearby Cities for Real Estate Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Blacksburg-Christiansburg-Radford, VA Real Estate Sales Agents Salary | $57,880↑ 0% | 26 mi |
| Lynchburg, VA Real Estate Sales Agents Salary | $46,370↓ 20% | 43 mi |
| Greensboro-High Point, NC Real Estate Sales Agents Salary | $65,220↑ 13% | 82 mi |
Comparing salaries near Roanoke, VA
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Frequently Asked Questions
How much does a Real Estate Sales Agents make in Roanoke, VA?
The median annual salary for a Real Estate Sales Agents in Roanoke, VA is $57,820. This typically ranges from $38,140 for entry-level positions to $98,640 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Roanoke, VA is 17.8% lower than the national median of $70,360.
Is Roanoke, VA a lucrative place for Real Estate Sales Agents?
No, not compared to the national average.While the cost of living is average, the average salary for Real Estate Sales Agents in Roanoke is significantly lower than the national average. The market concentration, however, suggests consistent opportunities.
Is Roanoke, VA a good place to live for Real Estate Sales Agents?
The Cost of Living Index in Roanoke, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Roanoke, VA?
Some top paying nearby cities include Blacksburg-Christiansburg-Radford, VA ($57,880) and Lynchburg, VA.
How does Roanoke's cost of living compare to the national average?
Roanoke, VA, has a Cost of Living Index of 100, which is exactly the national average. This means that the general cost of goods and services, including housing, is comparable to the rest of the United States.
What is the significance of the Location Quotient for Real Estate Sales Agents in Roanoke?
A Location Quotient of 1.48 indicates that Real Estate Sales Agents are more concentrated in Roanoke than the national average. This suggests a stronger presence and potentially higher demand for these professionals within the local job market.
How many Real Estate Sales Agents are there in Roanoke, VA?
There are approximately 280 Real Estate Sales Agents working in Roanoke, VA, contributing to the local real estate industry.
Is the salary for Real Estate Sales Agents in Roanoke expected to increase?
While specific trends for Roanoke are not detailed, national trends suggest that salaries for Real Estate Sales Agents have generally been growing, driven by market activity and demand. Localized growth will depend on Roanoke's specific economic and housing market conditions.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 280 employees in the Roanoke, VA area with a job density of 1.829 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Real Estate Sales Agents • Data source: BLS OEWS 2024 •Jobs in Roanoke, VA