According to the Bureau of Labor Statistics, the top 10% of real estate agents across the U.S. earn more than $112,000 annually.1 In Delaware’s prime markets, incomes at this level are certainly achievable for top producers with persistence and commitment to delivering exemplary service.
Of course, new agents must be realistic when budgeting and planning during their first year in real estate. Joining a productive team, focusing on lead generation, and marketing yourself effectively will help ramp up your sales volume.
How Much Income Can Real Estate Professionals Generate in Delaware?
Real estate offers high earning potential, especially once agents build solid experience and reputation.
Licensed salespersons in Delaware earn an average of $76,000 annually according to leading job statistics. Top agents can earn over $100,000.
Income potential has no limits and correlates directly with sales volume, broker commission splits, and niche specialties.
Just like any commission-based sales role, your Delaware real estate income depends on your work effort, ability, and professionalism. However, patience is key as it takes time to establish yourself.
While introductory income may seem modest, sticking with real estate for the first few years allows you to establish referral pipelines and name recognition that pays dividends throughout your career. Joining a team can also accelerate learning and opportunities.
Re-Establishing Your Real Estate License and Reciprocity in Delaware
Once approved, your original real estate salesperson license remains valid for 2 years before requiring renewal. To maintain an active status, you must complete continuing education courses and submit a renewal application in DELPROS together with a $133 renewal fee.2
Newly Licensed Salesperson Education
Effective May 2022, the Delaware Real Estate Commission instituted additional education requirements for newly licensed salespeople.3
Within 90 days of initial licensure, new salespeople must also take 12 hours of prescribed course modules on top of regular continuing education. These modules cover:
- 3 hours on real estate professionalism
- 3 hours on buyer agreements and representation
- 3 hours on professional standards
- 3 hours on seller agreements and representation
This supplementary education ensures newly licensed agents meet core competencies. Certificates showing completion of these modules must be retained, as they are audited.
Check the Commission’s rules for full details on newly licensed salesperson education requirements in Delaware.4
License Renewal
For your very first renewal deadline, most new sales agent licensees must finish 18 hours of Commission-approved training before renewal. At least 6 of these hours must cover specific “New Licensee” modules mandated for recent licensees in their first renewal period.
After your first renewal, the continuing education requirement is 21 hours during each subsequent renewal period before April 30 of even-numbered years. At least 3 hours must cover current Delaware legislative changes and Court decisions related to real estate.
Licenses can be renewed up to 30 days after expiration through late renewal options. However, you cannot legally practice real estate with an expired or inactive license. Extended delays beyond 90 days require full license reinstatement through reapplication.5
Agents can also request in DELPROS to have their license placed on inactive status at a fee.2 Resuming service will also attract a fee and also require a service request in DELPROS.
Reciprocity With Other States
Delaware has reciprocity agreements with every U.S. state allowing agents with current active licenses to transfer through comity. The agents are exempt from the 99-hour pre-licensing course but must complete a 33-hour law course instead and pass with a minimum score of 70%.
Applicants through reciprocity must also submit a Certificate of Licensure History showing activity for 3 years with 20 sales or lease transactions.
Obtaining a real estate license requires dedication but opens doors to an exciting, lucrative career. Following the Delaware Realty Commission guidance allows you to efficiently complete key steps like pre-licensing education, testing, and applications.
References
1U.S. Bureau of Labor Statistics. (2023, September 6). Real Estate Brokers and Sales Agents. U.S. Bureau of Labor Statistics. Retrieved October 26, 2023, from <https://www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm>
2Delaware.gov. (2023). Applying or Renewing – Know Your Requirements and Collect Your Documents. Delaware.gov. Retrieved October 26, 2023, from <https://delpros.delaware.gov/OH_HomePage>
3Delaware.gov. (2022, March 10). 2900 Real Estate Commission. Delaware.gov. Retrieved October 26, 2023, from <https://regulations.delaware.gov/AdminCode/title24/2900.shtml>
4Delaware.gov. (2022, March 10).. Title 24 Regulated Professions and Occupations. Delaware.gov. Retrieved October 26, 2023, from <https://regulations.delaware.gov/AdminCode/title24/index.shtml>
5Delaware.gov. (2023). Reinstatement. Delaware.gov. Retrieved October 26, 2023, from <https://dpr.delaware.gov/boards/realestate/reinstatement/>