By David PomerantzPublished October 08, 2018 11:24:59As the price of a home increases, it becomes increasingly difficult for many people to afford to live in a place.
But there’s one group of realtors in America that are earning less than $100,000 per year.
According to the Center for Investigative Reporting, this is a group of “super-professionals” who are earning nearly $400,000 in annual compensation.
While some of these high-priced realtivists work at large firms, they are working for independent agencies like the one that is responsible for listing properties in Palm Springs.
They are working with realtive companies to sell properties in California, Arizona and Nevada.
The Center for Investigations uncovered the names of two of the agents who were making over $400K a year.
One of them, Chris Fennell, was paid $400k in 2017 and 2018.
The other agent, Robert Burdick, was made $300k in 2018 and earned over $500,000 last year.
In addition to the salary and compensation, Burdicker also received a bonus of $200k and $50,000 for his efforts.
These agents are earning over $100k per year at a time when realtives in Florida and Nevada have been raising the minimum wage to $12 per hour.
The real estate market in Palm Beach is in the midst of a bubble.
The median price of houses in Palm is now $1.4 million, a level that was reached in 2013.
But while some of the houses in the neighborhood are starting to sell, prices are still skyrocketing.
In Palm Beach alone, there were just $3.6 million in sales last year, according to the city of Palm Springs Office of Real Estate.
There are more than 30,000 condos on the market in the city, but they are all at significantly higher prices.
The average price of condos in Palm in 2017 was $1,890,000.
That’s a whopping $400m increase since 2013.
The prices are so high, the owner of a house in the area told ABC News they are struggling to pay their mortgage.
“It’s insane,” the owner, who wishes to remain anonymous, said.
“There’s not a house that I can sell for a little bit less than that.
I’m getting a little push from all the condos that are coming in.”
The owners say the median price in the community is $4.4m.
But that’s only half of the $7m that is listed in Palm for the same price.