Roger Pettingell is a seasoned, highly successful real estate agent based in Sarasota, Florida. He has more than thirty-six years of experience selling homes of all shapes, sizes, and types. He is Coldwell Banker’s number one real estate agent for the Florida area and one of the top five nationwide. He takes pride in offering help, advice, and encouragement to aspiring real estate agents to encourage them to stick with the industry and use all the tools at their disposal to become successful in their field. To this end, he explains the huge potential for success and how much the top 1% of real estate agents make every year.
The most profitable agents make over $1 million a year, Roger Pettingell explains. However, he notes that agents in this category likely do more than show homes. They use their knowledge to flip homes and/or purchase homes or buildings that can be rented out to residential or commercial tenants. Another highly profitable route high-earning real estate agents can take is to choose a specialized niche. Real estate agents that work for oil and gas extraction companies, for instance, earn a mean annual wage of $122,760.
Work in this role is vastly different from average real estate jobs; instead of showing homes for purchase, an oil and gas extraction real estate agent would either work with a landowner who is considering leasing out a parcel of land or work with an oil and gas company to help secure leases to potentially profitable land. Agents working with natural gas distribution companies and pipeline transportation of natural gas likewise earn a mean annual wage of more than $100,000.
An agent’s geographic location also plays a role in earnings, Roger Pettingell reports. In Midland, Texas, real estate agents earn a mean annual wage of $100,060. In the Bridgeport- Stamford-Norwalk area in Connecticut, real estate agents earn a mean annual wage of $99,880. Other highly profitable locations include Worcester, Connecticut; Greeley, Colorado; and Jonesboro, Arkansas.
The type of real estate sold can also impact one’s profits. Luxury real estate agents tend to make more than regular ones, as selling a single luxury property can bring in a higher commission than most regular real estate agents would earn in an entire year. However, there is a limited customer base, making it difficult for many real estate agents to focus exclusively on this market.
Real estate work has the potential to be incredibly profitable, and Roger Pettingell has always encouraged aspiring agents to follow their dreams. Even so, he is the first to note that real estate agents rarely start with a high six- or seven-figure income. Rather, they learn the ropes by studying, research, and trial and error. They gain their clients’ trust through hard work, honesty, integrity, and stellar customer service. It’s not easy, and many real estate agents leave the industry to find work with a set salary; however, those who stick it out and become successful find that it’s well worth the time and effort it takes to become one of the top 1% of real estate agents.