California's real estate market is hotly competitive and filled with extremely successful real estate professionals. With home prices continuing to rise across the state, especially in desirable areas like Los Angeles, San Francisco, and San Diego, the top realtors in California sell enormous amounts of high-end real estate each year.
This article will look at some of the most successful individual real estate agents as well as top real estate agencies dominating the California market.
Who is the most successful realtor in California?
Josh Flagg is considered one of the most successful individual real estate agents working in California today. Based in Beverly Hills, Josh Flagg specializes in high-end residential real estate throughout Los Angeles County.
Flagg has sold over $1 billion in real estate over his career so far. Some of his record-breaking sales include:
- A Beverly Hills estate sold for $23.5 million in 2006, setting a record for the most expensive residential sale ever in Beverly Hills at the time.
- In 2020, Flagg represented the seller of a Beverly Hills mansion that sold for $75 million to WhatsApp co-founder Jan Koum, setting a new record for the most expensive home sold in Beverly Hills.
- A Bel Air mega-mansion that sold for $94 million in 2019, which was the highest sale ever recorded in Los Angeles County. Flagg represented the seller.
Flagg works for high-end brokerage Rodeo Realty and also stars in the popular reality show Million Dollar Listing on Bravo. He is known for his excellent connections and ability to network, allowing him to regularly land exclusive luxury listings across LA.
Who are the top-selling real estate agents in LA?
In addition to Josh Flagg, some other top-producing individual real estate agents in Los Angeles include:
- Jade Mills - Beverly Hills luxury real estate specialist with over $6 billion in sales. Mills works for Coldwell Banker and holds the record for the most expensive home sold in LA County - the $150 million Chartwell estate.
- Aaron Kirman - Another star of Million Dollar Listing LA, Kirman focuses on high-end estates in Malibu, Beverly Hills, Holmby Hills, and Bel Air. He has sold over $6 billion in real estate.
- Sally Forster Jones - luxury specialist with Compass Realty who has sold over $1 billion in LA real estate. Known for her celebrity clients and connections.
- Tomer Fridman - a young rising star in LA luxury real estate who has quickly sold over $1 billion in high-end homes in just 5 years in the business. Works for Compass.
- Rochelle Atlas Maize - a luxury agent with Nourmand & Associates who has sold over $3 billion in real estate, including record sales in Holmby Hills and prized Trousdale Estates properties.
Who are the top real estate agents in the USA?
On a national level, some of the top-producing individual real estate agents in the United States include:
- Josh Altman - Star of Million Dollar Listing Los Angeles and luxury real estate specialist with over $4.5 billion in career sales. Based in LA but works with high-end listings across the country.
- Ryan Serhant - Star of Million Dollar Listing New York, Serhant has sold over $3 billion in real estate comprised of luxury condos, townhomes, and penthouses across NYC.
- Chad Rogers - luxury agent based in Miami who has sold over $2 billion in high-end real estate, including record sales for individual listings and per square foot.
- Ben Bacal - Top selling agent in Los Angeles and the #1 realtor at Rodeo Realty, with over $4 billion in career luxury real estate sales.
- Luis D. Ortiz - Star of Million Dollar Listing New York, Ortiz has sold $2 billion in real estate and specializes in luxury condo sales in Manhattan and Brooklyn.
Where is the best place to be a realtor in California?
The top cities and regions to work as a real estate agent in California based on home sales, prices, and agent income include:
- Los Angeles - Massive market with extremely high home prices and sales in neighborhoods like Bel Air, Beverly Hills, Hollywood Hills, and beach cities. Very lucrative for luxury agents.
- San Francisco - Limited housing supply coupled with huge tech industry demand pushes real estate prices over $1 million on average. agents earn big commissions.
- San Diego - A relaxed coastal lifestyle plus biotech and academia help make San Diego a leading market for realtors in CA. High incomes and prices.
- Silicon Valley - Affluent communities like Palo Alto and Cupertino have enormous demand driven by the tech sector, allowing agents to earn $250k+ in commissions annually.
- Orange County - Wealthy coastal suburbs in areas like Newport Beach provide a prime Orange County market with rising sales and prices, earning agents 6-figures.
Who is the top agent in LA?
When looking specifically at the Los Angeles market, Ben Bacal is considered the top real estate agent in LA. As mentioned previously, Bacal works for the prestigious brokerage Rodeo Realty and holds the title of their #1 agent.
Some key facts about Ben Bacal’s enormous success in LA luxury real estate:
- Bacal has sold over $4 billion in high-end real estate over his 20+ year career in Los Angeles to date.
- In 2021, he earned the title of the #1 real estate agent in the entire United States by total sales volume, with over $1.2 billion in sales that year alone.
- He frequently represents celebrity clients, including top musicians, actors, producers, and studio executives.
- Bacal holds the record for the highest sale ever in the Los Angeles Modern market: a Beverly Hills mansion that sold for $56 million in 2021.
- He has sold 5 of the 15 biggest residential sales ever recorded in the LA area.
- Bacal sold over $1 billion in real estate in 2020, despite the pandemic. This made him the first agent ever to surpass $1 billion in annual sales twice in their career.
With his track record of record-shattering luxury sales year after year, Ben Bacal continues to dominate as the clear #1 real estate agent in the Los Angeles market.
Do Realtors make a lot of money in California?
Yes, real estate agents have the potential to make very high incomes in California, especially those specializing in luxury real estate sales.
The median annual pay for realtors in California is around $94,770 per year according to the Bureau of Labor Statistics. The top 10% of agents earn more than $212,380 annually.
However, agents who work with high-end real estate sales in desirable California regions like San Francisco, Los Angeles, and San Diego have earning potential far exceeding these averages.
- Luxury real estate commissions are typically 5-6%, compared to 2.5-3% on average home sales.
- Selling just one mega-mansion over $10 million could earn an agent a $500,000+ commission. Top agents sell multiple ultra-high-end homes per year.
- Many of the top real estate agents in California earn well over $5 million in commissions per year.
- Josh Flagg, Ben Bacal, Jade Mills, and other top LA luxury agents have career sales exceeding $1 billion, earning tens of millions in commissions over the years.
So while the average real estate income in California is already quite high, those specializing in luxury real estate can earn astronomical commissions and incomes annually in the state.
Is it difficult to be a real estate agent in California?
The California real estate market is very competitive, which can make it challenging to succeed as a real estate agent. However, the potential rewards are also extremely high. Some key factors to consider:
- There is no state licensing exam required in California. However, agents must complete 135+ hours of real estate courses plus gain 2460 hours of sales experience to get a license.
- California currently has over 218,000 active real estate licensees. Major markets like Los Angeles have over 45,000 agents competing.
- Most new agents in California exit the industry within 5 years because they cannot build a sustainable business. Just 20% of new licensees renew after 2 years.
- Establishing yourself in the luxury market requires strong branding, marketing skills, and connections to affluent clients.
- Agents must be willing to hustle and work extremely long hours, especially at the start. Weekends and evenings are crucial.
- Joining a top brokerage like The Agency, Compass or Sotheby’s boosts your credibility and provides valuable mentoring.
- Listing desirable properties and delivering excellent service help agents build their reputations over time to thrive.
So California does present challenges in an extremely crowded industry. But rewards await those able to differentiate their services, establish a luxury brand image, and outwork the competition in their market.
How much do luxury real estate agents make in California?
Luxury real estate agents focusing on high-end properties in California often earn multi-million dollar annual incomes due to the extremely high commissions in this market segment.
Here are some examples of top luxury agent commissions and incomes in California:
- Selling one $15 million home could bring a commission of around $900,000 at the standard luxury rate of 6%.
- An agent selling $75 million in luxury real estate in a year (5 homes at $15 million each) could earn around $4.5 million in commissions.
- Josh Flagg reportedly earned $25 million in commissions in 2017 alone.
- Many of the Million Dollar Listing LA agents including Josh Altman, Tracy Tutor, and James Harris reportedly have annual incomes between $5-$10+ million.
- Ben Bacal earned over $12 million in commissions in 2021 while setting the record as the #1 agent in the US by sales volume.
- Top luxury agents earn multi-million dollar incomes even in markets outside Los Angeles, like San Francisco and San Diego.
As demand continues rising for high-end real estate in California, so do commissions and incomes for successful luxury agents in regions like Los Angeles, Silicon Valley, and Orange County.
Is it hard to do real estate in California?
California offers huge opportunities as a real estate agent, but the market is also very challenging compared to other states. Some key factors:
Competition
- California has over 218,000 active real estate licensees, more than any other state. Approximately 45,000+ agents compete just in the LA metro region.
High Costs
- The costs to operate as an agent in California are very high. Brokerage fees, mandatory dues, taxes, gas, and other expenses take big bites from earnings.
Demanding Clients
- Luxury home buyers expect white glove service and expertise in neighborhoods, market data, pricing, etc. High-maintenance sellers also require extensive time and care.
Housing Supply Crisis
- California suffers from an extreme shortage of housing inventory. Bidding wars and cash offers make closing sales at asking prices difficult.
Boom and Bust Cycles
- Real estate markets like San Francisco see wild swings in prices and housing demand during booms and busts, creating unpredictability.
Long Commutes
- The sprawling geography of metros like Los Angeles and traffic congestion makes for extremely long commutes to show homes across the region.
Work/Life Balance
- Agents must dedicate huge amounts of time outside 9-5 hours, on weekends and holidays to compete and satisfy demanding clients in CA.
So while California offers substantial income potential, the path to success is filled with challenges, long hours, and fierce competition. Only the most dedicated agents thrive long-term in this ultra-high-end market.
Can a foreigner become a real estate agent in California?
Yes, California does allow non-US citizens and foreign nationals to become licensed real estate agents, provided they meet the state's eligibility requirements. Here is an overview of key policies:
- Candidates must be 18+ years old and hold legal US residency to get a CA real estate license.
- Non-citizens are required to provide a US-issued social security number or ITIN (individual taxpayer ID number).
- Background checks are conducted. Any prior felony convictions or real estate violations can cause a denial of licensure.
- Candidates must complete California's real estate exam and coursework requirements (135+ hours of courses).
- Non-US residents are not eligible for California real estate licenses. You must live in CA to start your career.
- Any documents submitted, such as college transcripts, must be evaluated by an approved service for equivalency.
- Fluency in English, both written and verbal, is essential to pass exams and work as an agent.
Provided candidates can meet California's coursework, residency, background check, and legal status requirements, there is a path for foreigners to break into real estate in popular markets like Los Angeles, San Francisco, and San Diego.
Can a foreigner get a California real estate license?
Foreigners are able to obtain a California real estate license if they meet the state's eligibility requirements. Here is an overview:
- Candidates need a US social security number or ITIN to get licensed.
- Non-citizens must provide proof of legal US residency in California.
- Transcripts for any foreign college degrees must be evaluated by an approved service showing equivalency to US standards.
- 135+ hours of real estate pre-licensing education must be completed through California-approved programs.
- Background checks are conducted for any prior felonies or real estate/financial violations that would prohibit licensure.
- Applicants must pass the California Real Estate License Exam. Fluency in English is required.
- Non-US resident foreigners cannot obtain a California license. Candidates must live and work within California.
- Licenses must be renewed every 4 years by completing CA's continuing education requirements.
By meeting these requirements, foreigners have a path to earn a California real estate license. However, establishing your career and competing as an agent without citizenship presents further challenges in this demanding market.
How much money does it take to get a real estate license in California?
The costs to earn a real estate license in California typically range between $2,000-$5,000 depending on factors like the courses and exam prep chosen. Here is an overview of typical costs:
- Pre-licensing Course Package - $300-$1000 for online or in-person courses meeting 135+ hour requirement.
- Exam Prep - $100-$300 for test prep materials and practice exams through providers like PrepAgent.
- State Exam Fees - $60-$100 for the license exam fee payable to PSI Exams.
- Re-Exam Fees - $60+ if you need to retake the state licensing exam.
- Background Check - $100-$300 depending on the provider. The Livescan fingerprinting fee is around $20.
- BRE Application Fee - $300 application fee when applying for the salesperson license through the Bureau of Real Estate (BRE).
- Books & Materials - $100-$300+ for required course textbooks, study guides, and practice tests.
- Brokerage Fees - Some brokerages charge $100-$500 for brand affiliation, desk fees, and mentorship to new agents.
Total costs typically range from $2000-$5000. Additional annual fees including Realtor dues, MLS fees, and taxes apply once licensed. Overall, qualifying to practice real estate in California requires a significant upfront investment.
Key Takeaways: Top Real Estate Agents and Agencies in California
- Josh Flagg, Ben Bacal, Jade Mills, and Sally Forster Jones are among the top individual luxury real estate agents in California based on total career sales volume.
- Los Angeles, San Francisco, San Diego, Silicon Valley, and Orange County offer the best markets for real estate agents in California due to strong demand, rising prices, and affluent buyers.
- Top agents specializing in high-end real estate sales can earn $5 million+ per year in commissions in California.
- While lucrative, the California real estate market is highly competitive and challenging. New agents face high failure rates.
- Foreigners can obtain a California real estate license by meeting eligibility requirements including exams, legal residency, and background checks.
- Costs to earn a license in California typically range from $2,000-$5,000 including education, exams, fees, and brokerage dues.
