Current West Virginia Real Estate Income, Sales, and Trends

Young people, recent college graduates, those just starting out on their professional journey, and others seeking a career change may wonder whether real estate is a good career path. Those of you in the latter category may be wondering, “Am I too old to become a real estate agent?”

Not necessarily!

How Much Can a Real Estate Agent in West Virginia Make?

Leading job recruiters and outlets report that real estate agents in West Virginia earn an average salary that ranges from $52,700 to $81,100 per year. Agents with more experience and a strong understanding of market conditions across their service area will build their client base, leading to a higher salary over time.

Top agents may make approximately $100,000 annually, and agents located in areas with high property values and high demand are more likely to achieve greater financial success. For example, the larger-populated cities of Charleston and Morgantown, and the Eastern Panhandle region may provide agents with more lucrative opportunities than in more rural, less populated towns and cities across the state.

Keep in mind that there are 55 counties in West Virginia, that means there are plenty of potential homebuyers across the state and in the neighboring states of Kentucky, Maryland, Ohio, Pennsylvania, and Virginia.¹

Real estate agent salaries are commission-based, and the commission rate is a percentage of the sale. A typical commission is 5% to 6% of a property’s sale price.

The commission structure in real estate involves multiple parties, including the home buyer’s agent, the seller’s agent, and their respective brokerage companies. So, for example, if a home sells for $350,000, with a commission rate of 5%, the commission totals $17,500.

If the two agents split this evenly, they would each earn $8,750. However, keep in mind that the agents also share part of their commissions with their brokerage company.

The split commission structure varies. Agents may retain 90% of their share of the commission, leaving 10% to the brokerage firm.

Alternatively, it may be a 70-30 split. Commissions are usually negotiated between the involved parties.

Because earnings are usually on a commission basis, hard work, motivation, and advertising are likely to increase a real estate agent’s income over time. Should a licensee choose not to work hard or if they are unsuited to a career in real estate, the commission basis also means that they will have little or no protection of income level.

A prospective licensee should also take into account the cost as well as the time needed to establish and maintain a practice and to provide an income to meet their personal needs.

Becoming a salesperson, or real estate agent, in the state of Virginia is a wonderful opportunity. With escalating home prices over the past decade, there is great potential for a steady and high income, over time.

West Virginia Realty Commission agents may also develop positive and rewarding relationships with their clients.

Real Estate License Reauthorization and Interstate Licensing Agreement in West Virginia

What is reciprocity in real estate?

Reciprocity in real estate is defined as the ability of a real estate license earned in one state to be used in other states. Reciprocity agreements are limited in West Virginia.

The West Virginia Real Estate Commission has outlined steps required for real estate agents licensed in Florida, Kentucky, and Ohio to be able to operate in West Virginia.² Sales associates, or agents, from these three states, must have an active salesperson license in their own state.

Agents from Kentucky and Ohio also have to complete a West Virginia Realty Commission-approved 20-hour West Virginia Real Estate Law Course and pass the state exam.

There is one exception. Licensed agents from Florida are not required to take the course or exam, however, they must be affiliated with an active West Virginia licensed broker in order to be able to work legally in the state.

At a minimum, agents from the states of Kentucky, Ohio, and Florida need to:

1. Submit fingerprints for a national criminal history check for a real estate license
2. Register for the West Virginia portion of the licensing exam (you will receive an approved email from the WVREC and a separate email to register for the exam)
3. Submit an online application with all required supplemental documentation

Licensed real estate agents from other states may receive reciprocity in West Virginia if they complete the following steps:

1. Have a current salesperson license in another jurisdiction and passed a comprehensive licensing examination
2. Submit National Criminal Background Check³
3. Provide a Certificate of Licensure from every state in which you are licensed
4. Complete the Non-Resident Exam Application form⁴
5. Pass the West Virginia state portion of the licensing exam
6. Obtain a sponsoring broker with an active West Virginia Broker License. You can find the WV Broker Roster on the WV Real Estate Commission Website⁵
   You will likely need to reach out to several brokers to find a sponsor, especially if you are just starting out.

To get started, go to the West Virginia Real Estate Online Application System website and register for your exam.⁶