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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

$60.4K

Growth

3%

Bright Outlook

Average

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 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 $25,460 $38,170 $60,370 $97,080 $174,120
Hourly Wage $12.24 $18.35 $29.02 $46.67 $83.71

How Much Do Real Estate Brokers Make ? 2021

Percentile
10%
25%
50% (Median)
75%
90%
Annual Wage
$25,460
$38,170
$60,370
$97,080
$174,120
Hourly Wage
$12.24
$18.35
$29.02
$46.67
$83.71

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.
  • Monitor market conditions or trends.
  • Review laws or regulations to maintain professional knowledge.
  • 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?

  • Oral Expression - Communicating by speaking.
  • Oral Comprehension - Listening and understanding what people say.
  • Written Comprehension - Reading and understanding what is written.
  • Speech Clarity - Speaking clearly.
  • Speech Recognition - Recognizing spoken words.
  • Deductive Reasoning - Using rules to solve problems.
  • Near Vision - Seeing details up close.
  • 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.
  • 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.
  • Social Perceptiveness - Understanding people's reactions.

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 2019 Employment 2029 Employment Percent change Annual projected job openings
United States 100,700 103,300 3% 8,700

What Is The Projected Employment For Real Estate Brokers ? 2021

Location
2019 Employment
2029 Employment
Percent change
Annual projected job openings
United States
100,700
103,300
3%
8,700

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 Schools ?

School Program Name Location Length / Graduates
Abraham Lincoln University Real Estate Glendale, CA Less than one year: 0
American Public University System Real Estate Charles Town, WV 2 years: 27
Less than one year: 27
American River College Real Estate Sacramento, CA 2 years: 12
At least one but less than two years: 2
Less than one year: 2
American University Real Estate Washington, DC Less than one year: 0
More than 4 years: 6
Angelina College Real Estate Lufkin, TX At least one but less than two years: 1
Less than one year: 20
Antelope Valley College Real Estate Lancaster, CA 2 years: 1
At least one but less than two years: 2
Less than one year: 4
Arizona State University-Tempe Real Estate Development Tempe, AZ More than 4 years: 29
Ashford University Real Estate San Diego, CA 4 years: 1
4 years: 53
Auburn University Real Estate Development Auburn, AL More than 4 years: 19
Austin Community College District Real Estate Austin, TX 2 years: 4
Less than one year: 33

Real Estate Brokers Schools ?

School
Program Name
Location
Length / Graduates
Real Estate
Glendale, CA
Less than one year: 0
Real Estate
Charles Town, WV
2 years: 27
Less than one year: 27
Real Estate
Sacramento, CA
2 years: 12
At least one but less than two years: 2
Less than one year: 2
Real Estate
Washington, DC
Less than one year: 0
More than 4 years: 6
Real Estate
Lufkin, TX
At least one but less than two years: 1
Less than one year: 20
Real Estate
Lancaster, CA
2 years: 1
At least one but less than two years: 2
Less than one year: 4
Real Estate Development
Tempe, AZ
More than 4 years: 29
Real Estate
San Diego, CA
4 years: 1
4 years: 53
Real Estate Development
Auburn, AL
More than 4 years: 19
Real Estate
Austin, TX
2 years: 4
Less than one year: 33

Real Estate Brokers Jobs Near Me .

Job Title Company Location Date Posted Federal Contractor
2022 Investment Fellowship Program T. Rowe Price Baltimore, Maryland 08/01/2021 No
Underwriter - Multi-Family BNB Bank Whitestone, New York 08/01/2021 No

Real Estate Brokers Jobs Near Me .

Job Title
Company
Location
Date Posted
Federal Contractor
T. Rowe Price
Baltimore, Maryland
08/01/2021
No
BNB Bank
Whitestone, New York
08/01/2021
No

Real Estate Brokers 2021 Salary Guide By State

Common Careers