UGANDA, Kampala | Real Muloodi News | In Uganda, a person working in real estate typically earns between USh 1,100,000 and USh 3,800,000 per month, working 40 hour work weeks, according to Salary Explorer. This includes housing, transport and other expenses and/or benefits.
The median earnings is USh 2,580,000. Meaning half the number of people working as real estate agents in Uganda earn less than USh 2,580,000, and the other half earn more than USh 2,580,000 per month. Of course, most people desire to be on the upper half of this equation.
On average, an agent’s earnings increments by 7 per cent every 29 months.
Types of Earnings
Independent real estate agents and brokers in Uganda work on sales commission.
If an agent is working for a real estate company, they may be employed on a commission-only basis, or commission plus expenses, or else they may be working for an hourly wage, or for a monthly salary.
A real estate agent will charge a commission from the owners of the land or properties for which they sell or let, typically of between 5 -10% of the sale or rental value. They may also earn commission from the buyers or tenants that they show properties to.
A commission-based broker may sometimes go without a paycheck for a considerable period because of the nature of commission-based work. If you don’t sell, you earn nothing, irrespective of the general overhead and administrative costs that you might incur in the same period.
An agent working for an hourly wage will be paid for the actual number of hours worked, and in Uganda, a real estate agent earns an average hourly salary of about USh 13,800. They usually work for about eight hours a day.
On the other hand, a person working for a monthly salary will be paid at the end of the month regardless of the actual number of hours worked. In Uganda, a real estate agent earns around USh 2,390,000 every month.
Factors that Determine the Salary of a Real Estate Agent
The salaries of real estate agents in Uganda vary significantly based on several factors, including experience, skills, education level, location, and gender.
The critical factor in determining the salary of a real estate agent in Uganda is the level of experience.
Less Than 2 Years
A real estate agent with less than two years of working experience earns about USh 1,250,000.
An agent with a working experience of two to five years earns about USh 1,670,000, which is 34 per cent more than what an agent with less than two years of working experience earns.
An agent with working experience between five to ten years earns USh 2,460,000, which is 48 per cent more than what an agent with between two to five years of working experience makes.
A real estate agent with ten to fifteen years of working experience gets about USh 3,010,000, 22 per cent more than what an agent with five to ten years of experience gets.
A real estate agent with experience of fifteen to twenty years earns about USh 3,280,000, which is 9 per cent more than what an agent with ten to fifteen years’ experience earns.
Over 20 Years
An agent with over 20 years of working experience earns about USh 3,550,000, which is 8 per cent more than what an agent with fifteen to twenty years of working experience earns.
2. Education Level
High School Certificate
It is common knowledge that a higher education warrants a larger salary. For the real estate business in Uganda, a real estate agent with a high school certificate earns an average USh 1,420,000.
An agent with a diploma earns about USh 2,240,000, which is about 57 per cent more.
A bachelor’s degree holder reaches a salary of USh 3,750,000, which is 68 per cent more than what an agent with a diploma earns.
In a perfect world, gender should not affect an individual’s salary, but the world is far from perfect.
Male real estate agent employees in Uganda earn, on average, 17 per cent more than their female counterparts.
Real Estate Agent VS Other Jobs
The average income for a real estate agent is 19% less than that of other professions in the real estate industry. Furthermore, a real estate agent’s wages are on average 9% lower compared to all jobs.
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