Real estate agent's warning over job that pays $300,000 with no degree: '12-hour days'

Real estate agent Patrick
Real estate agent Patrick McKinnon revealed what it takes to earn a big salary in his industry. (Source: TikTok)

A real estate agent has warned those thinking of getting into the industry that you have to work hard to get a high six-figure salary. Patrick McKinnon said people who get into the upper echelons of the industry can earn around the same as a surgeon.

According to Glassdoor, the average salary for that type of medical professional is up to $300,000 per year. But the property expert said that type of money in his job comes with a big catch.

"It's a full-time job. It is beyond full-time. So it's six days a week, if not seven, [and] long, long days," he told jobs app GetAhead.

You are usually working across the clock

Because inspections and auctions happen on Saturdays, agents are usually working six days a week.

But that can sometimes extend to working Sundays as well if people call an agent to ask a few questions about a property or even put in an offer.

McKinnon has close to two decades of experience in the industry and is now the co-director and lead agent at Place in Brisbane's Ascot.

In his time, he's sold a few properties over $10 million and is even close to closing a deal with a price tag of over $20 million.

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But he gave some advice to those wanting to jump into the industry.

"Treat it like an apprenticeship," he said. "Get in and work underneath a team... someone that's got good market share, work in there [for] three or four years in the team.

"Don't expect to just go out and it's easy. You've got to put in 12-hour days. You've got to put in long days."

McKinnon revealed that people in their first year as real estate agents aren't able to earn a commission on the homes they sell.

However, from their second year, they could bring in upwards of $130,000 in commission "once they've proven themselves".

How much can you earn as a real estate agent?

The average real estate agent salary across Australia is tough to ascertain because it all depends on the market, commission rate, and the suburbs you're selling in.

According to SEEK, the average base pay sits at around $75,000 to $95,000.

Realestate.com.au added that the average commission rate for an agent is between 2 to 4 per cent.

Take McKinnon as an example. He has a median sale price of $2.87 million and sold 19 properties as the lead agent in the past 12 months.