Current Connecticut Real Estate Income, Sales, and Trends

Real estate can be a lucrative field, and agents in Connecticut typically earn more than the national average compared to others in this industry.

What’s the Compensation Scale for Real Estate Agents in Connecticut?

Statewide, the average real estate agent in CT earns $34.53 per hour or $71,830 per year.¹ The median annual salary is $48,080.

The lowest ten percent of real estate agents earn $35,510, while a salary of $157,310 puts an agent in the 90th percentile for agents in CT.

Average Compensation for Real Estate Agents in the United States

Nationwide, real estate agents earn less than the average CT real estate salesperson. The national average salary is $62,060 annually or $29.83 per hour.²

The bottom ten percent earn $24,930, while it takes $111,800 per year to reach the 90th percentile in national real estate earnings.

What Is the Average Commission for Real Estate Agents?

Nationally, the total real estate commission ranges from about 5 to 7 percent of the sale price of a property, with 60 percent of that commission going to the agents.³

In Connecticut, the average real estate salesperson’s commission is 5.12%.¹⁰ Roughly 2.66 percent goes to the seller’s agent, with the remaining 2.46 percent going to the buyer’s agent.

Real Estate License Renewal and Reciprocity With Connecticut

The process of renewing a real estate license or obtaining a CT license when you already have one in another state is slightly different than applying for a license for the first time.

How To Renew a Real Estate License in Connecticut

All real estate licenses in CT expire on May 31st each year. The state’s Department of Consumer Protection mails out renewal notices to all license holders 30 to 45 days before expiration.

In order to renew the license, applicants must simply pay the $289 renewal fee by May 31st, or pay an additional $28.50 penalty if paying past that deadline.⁴

Licensed real estate agents in CT must also complete 12 hours of Continuing Education (CE) credits every even year (2022, 2024, etc) to maintain their status, but the state does not verify that these credits are completed. Instead, licensed agents are expected to maintain documentation of CE for a period of four years,⁵ and to make it available for review upon request.

To make it easier to keep this information accessible, the state also allows licensed agents to upload proof of CE into the state’s e-License system.⁶ This does not mean the information will be reviewed – only that it will be stored online so it is easy for the licensee to find if needed at a later date.

Which States Have Reciprocity With Connecticut for Real Estate Agents?

Reciprocity is a practice where two different jurisdictions allow professionals licensed in only one of the jurisdictions to practice in the other jurisdiction. When it comes to real estate, CT has reciprocity with only the following 12 states:⁷

1. Alabama
2. Colorado
3. Florida
4. Georgia
5. Illinois
6. Indiana
7. Massachusetts
8. Mississippi
9. Nebraska
10. Ohio
11. Oklahoma
12. Rhode Island

Thanks to reciprocity rules, real estate agents licensed in any of these 12 states are legally considered to be licensed and allowed to act as licensed agents in Connecticut. Note that while Connecticut and New York long had reciprocity with one another for real estate agents, that agreement has ended and is no longer applicable.

Which States Do Not Have Reciprocity With Connecticut for Real Estate Agents?

Real estate agents moving from a state other than the 12 listed above will have to follow a specialized process to get licensed in Connecticut. This process is different from the process required for those who have never held a real estate license.

The CT licensing process for those licensed in other non-reciprocal states begins with applicants completing the Non-Reciprocal Application.⁹ This application must be accompanied by a certificate of license history and license verification from all states where the application currently has or has ever had a real estate license.⁸

The application requires an $80 application fee.

Once it has been submitted, the Connecticut Department of Consumer Protection will review the information and will direct PSI to send an exam eligibility postcard to the applicant. This postcard tells the applicant when and how to schedule a real estate exam, which costs $59.⁸

As long as the applicant is licensed in another state that DPC deems to have an applicable exam in place, the candidate only has to take the state-specific portion of the exam, not the longer section related to general real estate knowledge.

After passing the exam, non-reciprocal applicants must pay a license fee of $285 plus a guaranty fund fee of $20 to receive a Connecticut state real estate license.⁸ From there, non-reciprocal license holders must renew their licenses annually on May 31st like all other real estate agents in the state.