How much do Multifamily Leasing Agents Make?

How much do Multifamily Leasing Agents Make?

Multifamily leasing agents typically earn a base salary ranging from $30,000 to $50,000 annually, with entry-level agents on the lower end and experienced agents on the higher end. In addition to their base salary, they can earn significant commissions and bonuses, which can bring their total annual compensation to between $35,000 and $70,000 or more, depending on factors like location and property type. Benefits such as health insurance and housing discounts further enhance their compensation packages.

Here are some general insights into their earnings:

  1. Base Salary:
    • National Average: The base salary for multifamily leasing agents typically ranges from $30,000 to $50,000 per year.
    • Entry-Level: Entry-level agents may start at the lower end of the scale, around $30,000 to $35,000 annually.
    • Experienced Agents: More experienced agents can earn between $40,000 and $50,000 or more.
  2. Commissions and Bonuses:
    • Leasing agents often earn commissions based on the number of units they lease. This can significantly increase their overall earnings.
    • Commissions per lease can range from $50 to $200 or more, depending on the property's rental rates and company policies.
    • Performance bonuses are also common, rewarding agents for meeting or exceeding leasing targets.
  3. Total Compensation:
    • When commissions and bonuses are factored in, the total annual compensation for multifamily leasing agents can range from $35,000 to $70,000 or more.
    • In high-demand markets or luxury properties, top-performing agents might earn upwards of $80,000 to $100,000 annually.
  4. Benefits:
    • In addition to salary and commissions, leasing agents often receive benefits such as health insurance, retirement plans, paid time off, and sometimes even housing discounts if they live on-site.

Overall, multifamily leasing agents can earn a competitive income, especially when performance-based incentives are taken into account.

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