According an ABC 10 report, Sacramento in California was a top market for real estate brokers in . In fact, the average broker commanded a three-figure salary of roughly $156,780. Believe it or not, even Los Angeles brokers made less money — far less, at only $80,260.
That the best city to be a real estate broker happens to be in the Golden State is hardly surprising. California is rivalled only by New York when it comes to competitive real estate markets in America. However, every state in America grapples with one shared problem. Less than 1% of minorities hold top positions in commercial real estate.
One charity organization launched in D.C. would like to change this. Known as REAP, which stands for Real Estate Associate Program, the organization opened multiple chapters in major cities across the United States, including Los Angeles, California. Its main focus is to help increase that dismal 1% value so that it better represents minorities’ makeup of the general population.
The executive director believes that when people of color know more about commercial real estate, they can use these tools to develop their own neighborhoods. They may also build their personal wealth and take advantage of entrepreneurship opportunities. Others may go on to hold senior positions in fields they may not have otherwise considered.
Whether professionals wish to broker deals, own or manage investment property, the potential for success in California’s commercial real estate market is endless. But, as REAP has noted, the trick is preparing more people to work in the field.
