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2021 Real Estate Brokers Salary Guide

Operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.

Real Estate Brokers Salary

Salary

$59.7K

Growth

7%

Bright Outlook

Bright

Green

No

Real Estate Brokers Job Description

Operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.

Also known as:

Broker, Broker Assistant, Broker Associate, Designated Broker, Managing Broker, Real Estate Associate, Real Estate Broker, Real Estate Sales Associate, Realtor, Supervising Broker

How Much Do Real Estate Brokers Make ? 2021

Percentile 10% 25% 50% (Median) 75% 90%
Annual Wage $23,600 $35,940 $59,720 $95,790 $178,720
Hourly Wage $11.35 $17.28 $28.71 $46.05 $85.93

How Much Do Real Estate Brokers Make ? 2021

Percentile
10%
25%
50% (Median)
75%
90%
Annual Wage
$23,600
$35,940
$59,720
$95,790
$178,720
Hourly Wage
$11.35
$17.28
$28.71
$46.05
$85.93

Real Estate Brokers Tasks

  • Sell, for a fee, real estate owned by others.
  • Obtain agreements from property owners to place properties for sale with real estate firms.
  • Act as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.
  • Supervise agents who handle real estate transactions.
  • Generate lists of properties for sale, their locations, descriptions, and available financing options, using computers.
  • Compare a property with similar properties that have recently sold to determine its competitive market price.
  • Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
  • Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
  • Check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.
  • Rent properties or manage rental properties.
  • Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of the area where a property is located.
  • Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of the area where a property is located.
  • Arrange for title searches of properties being sold.
  • Develop, sell, or lease property used for industry or manufacturing.
  • Appraise property values, assessing income potential when relevant.

What Activities Do Real Estate Brokers Do?

  • Contract real estate to clients.
  • Prepare sales or other contracts.
  • Negotiate prices or other sales terms.
  • Supervise sales or support personnel.
  • Obtain property information.
  • Appraise property values.
  • Review laws or regulations to maintain professional knowledge.
  • Review accuracy of sales or other transactions.
  • Review accuracy of sales or other transactions.
  • Contract real estate to clients.
  • Review laws or regulations to maintain professional knowledge.
  • Monitor market conditions or trends.
  • Obtain property information.
  • Contract real estate to clients.
  • Appraise property values.

Typical Real Estate Brokers Knowledge?

  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

What Are Typical Real Estate Brokers Abilities?

  • Written Comprehension - Reading and understanding what is written.
  • Oral Comprehension - Listening and understanding what people say.
  • Oral Expression - Communicating by speaking.
  • Near Vision - Seeing details up close.
  • Speech Clarity - Speaking clearly.
  • Speech Recognition - Recognizing spoken words.
  • Deductive Reasoning - Using rules to solve problems.
  • Written Expression - Communicating by writing.
  • Problem Sensitivity - Noticing when problems happen.

What Are Typical Real Estate Brokers Skills? 2021

  • Speaking - Talking to others.
  • Reading Comprehension - Reading work-related information.
  • Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
  • Active Listening - Listening to others, not interrupting, and asking good questions.
  • Negotiation - Bringing people together to solve differences.
  • Active Learning - Figuring out how to use new ideas or things.
  • Persuasion - Talking people into changing their minds or their behavior.
  • Social Perceptiveness - Understanding people's reactions.
  • Judgment and Decision Making - Thinking about the pros and cons of different options and picking the best one.
  • Writing - Writing things for co-workers or customers.

What Are Typical Real Estate Brokers Interests?

  • Conventional - Occupations related to Conventional interests frequently involve following set procedures and routines. They include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
  • Enterprising - Occupations with Enterprising interests frequently involve starting up and carrying out projects. Many involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

What Is The Projected Employment For Real Estate Brokers ? 2021

Location 2018 Employment 2028 Employment Percent change Annual projected job openings
United States 96,200 103,000 7% 10,100

What Is The Projected Employment For Real Estate Brokers ? 2021

Location
2018 Employment
2028 Employment
Percent change
Annual projected job openings
United States
96,200
103,000
7%
10,100

What Is The Required Real Estate Brokers Education & Experience? 2021

  • High school diploma or equivalent
  • Less than 5 years work experience
  • No on-the-job training

Real Estate Brokers Jobs Near Me .

Job Title Company Location Date Posted Federal Contractor

Real Estate Brokers Jobs Near Me .

Real Estate Brokers 2021 Salary Guide By State

Common Careers