Yet, even these highly profitable auctioneers’ incomes pale in comparison to expected annual earnings of $360,000-$800,000.
How does one earn $360,000 – $800,000 annual income in the auction business, or average earnings of $580,000? Apparently by working for a nationwide online real estate auction firm.
Would it be fair to assume there would be some sharing of say a 10% commission? So, the hired assistant would be paid a portion of that?
To earn $580,000 in commissions at 2%, total gross sales would have to be $29 Million. At 1%, the total gross sales would have to be $58 Million.
And further, if this position involved only one state in the United States, then the nationwide online real estate auction firm might need to have sales approaching $3 Billion to support these same personnel in all 50 states.
Possible? Sure. Likely? No.
The particular job being described for this (average) $580,000 in income involves:
- List properties on a website
- Conduct and attend meetings
- Fill out reports
- Recruit and train others
So for listing properties, conducting and attending meetings, filling out reports, and recruiting and training, one can earn $360,000 – $800,000?
There are 1,000’s of real estate agents doing these exact same tasks (and more) all across the United State for an average annual income of about $25,000.
The auction business can be lucrative, and especially the real estate auction business. Just how lucrative may still be a question.
Mike Brandly, Auctioneer, CAI, AARE has been an auctioneer and certified appraiser for over 30 years. His company’s auctions are located at: Mike Brandly, Auctioneer, Keller Williams Auctions and Goodwill Columbus Car Auction. His Facebook page is: www.facebook.com/mbauctioneer. He serves as Adjunct Faculty at Columbus State Community College and is Executive Director of The Ohio Auction School.