Question: Who Makes More Money Real Estate Agent Or Insurance Agent?

How much do top insurance agents make?

Insurance Sales Agents made a median salary of $50,940 in 2019.

The best-paid 25 percent made $77,460 that year, while the lowest-paid 25 percent made $36,520.

How Much Do Insurance Sales Agents Make in Your City?.

Is selling insurance a good career?

Due to the low barriers of entry, insurance sales is a good career choice for people who are transitioning into a new career following a major life change. It only takes a few weeks or months to study for the state licensing exam, pass the exam, and start selling insurance.

Can you become a millionaire selling life insurance?

Life insurance sales is not for the fainthearted. Prospecting, appointments, closing, paperwork, cancellations … it’s all in a day’s work for these professionals. But only a handful of them become millionaires doing this job. … Statistics show that the best salespeople can close a sale on the first visit.

How much commission does an insurance agent make?

For auto and home insurance renewals, agents make a 2 to 15 percent commission (most are in the 2 to 5 percent range). Life insurance renewal rates are typically 1 to 2 percent, or zilch after three years. Overall, however, Bissett says the competition for your insurance dollar tends to hold down commissions.

Which is a better career insurance or real estate?

For the most part I would say Insurance is the better choice. In some locations Real Estate can be good but the odds are better with insurance. … I know of someone who started selling real estate last year and gave up after 6 months during which they got one listing that still hasn’t sold and had no sales.

Can you make a lot of money as an insurance agent?

According to that data from the Bureau of Labor Statistics: The median annual wage for insurance agents was $48,150. The highest paid 10% of insurance agents earned more than $116,940 annually. The lowest paid 10% of insurance agents earned less than $26,120 annually.

What is the most profitable insurance to sell?

The Most Profitable Insurance to SellIt should not come as a big surprise that auto insurance is the best selling and most profitable insurance product. … Property or home insurance typically covers anything that can pose a risk to your clients’ property like theft, flood, fire, and inclement weather.More items…

How can I get rich selling insurance?

7 Simple Ways to Make More Money Selling InsuranceMedicare.Indexed Universal Life (IUL)Buy Sell & Keyman.Annuities.Disability Income (DI)Final Expense & Burial.Ancillary Insurance.

Can I be a financial advisor and a real estate agent?

Real estate agents aren’t required to know this. They just need to know if you can get the money, not whether or not it makes sense in your greater financial picture. So, yes, combining the two might be valuable, but the trick is to stay compliant with multiple sets of regulations at all times.

What is the best type of insurance to sell?

The following are some of the five best selling insurance products.Auto Insurance. It is among the best selling insurance products. … Home Insurance. This is a type of property insurance which covers any loss or damage to someone’s house. … Life Insurance. … Health Insurance. … Product Liability Insurance.

How do I succeed in insurance sales?

10 tips for new insurance agentsBrush up on your customer service skills. … You are in sales; never forget that. … Find a full team of people to support you. … Dress for success. … Relate to your prospect or client. … Proofread all written communication. … Transparency is important, during the sales process and after. … Learn how to market yourself.More items…•

Who makes more money life insurance agent or real estate agent?

Insurance agents and real estate agents are both sales professionals who focus on different types of products or services. Although real estate agents have more formal training requirements insurance agents earn higher salaries.

Can you be a real estate agent and an insurance agent at the same time?

Absolutely. Obtain the required licenses and you can operate as both a real estate sales person and an insurance sales person at the same time. … Yes, but you will need to obtain both a real estate license and an insurance license.

How much money does a life insurance salesman make?

But many reps offer products that are more complex and often pay significantly higher commissions. That doesn’t mean most life insurance reps make massive incomes. According to the Bureau of Labor Statistics, the 2019 median salary for insurance agents was a modest $50,940.

Is selling life insurance hard?

Selling life insurance is a tough way to make a living and an even more difficult way to sustain a lucrative, long-lasting career. … The difficulties facing new life insurance agents are great in number. The pay is usually straight commission.