Find Grad Schools

Study Area & Zipcode

Real Estate Broker

Find Schools Near

What is a Real Estate Broker?

Real Estate Broker 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.

Real Estate Broker Responsibilities

  • Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
  • Review property details to ensure that environmental regulations are met.
  • Rent properties or manage rental properties.
  • Maintain working knowledge of various factors that determine a farm’s capacity to produce, such as agricultural variables and proximity to market centers and transportation facilities.
  • Develop, sell, or lease property used for industry or manufacturing.
  • Supervise agents who handle real estate transactions.

Things a Real Estate Broker Should Know How to Do

Below is a list of the skills most Real Estate Brokers say are important on the job.

Speaking: Talking to others to convey information effectively.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Negotiation: Bringing others together and trying to reconcile differences.

Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.

  • Real Estate Associate
  • Broker
  • Realty Loan Specialist
  • Dealer
  • Real Estate Manager

Real Estate Broker Employment Estimates

There were about 95,300 jobs for Real Estate Broker in 2016 (in the United States). New jobs are being produced at a rate of 4.9% which is below the national average. The Bureau of Labor Statistics predicts 4,700 new jobs for Real Estate Broker by 2026. There will be an estimated 9,300 positions for Real Estate Broker per year.

undefined

The states with the most job growth for Real Estate Broker are Utah, Tennessee, and Wisconsin. Watch out if you plan on working in West Virginia, Illinois, or Wyoming. These states have the worst job growth for this type of profession.

Real Estate Broker Salary

The typical yearly salary for Real Estate Brokers is somewhere between $22,750 and $163,540.

undefined

Real Estate Brokers who work in Tennessee, Connecticut, or Texas, make the highest salaries.

How much do Real Estate Brokers make in different U.S. states?

State Annual Mean Salary
Alaska $74,320
Arizona $65,460
Arkansas $62,440
California $86,000
Colorado $60,680
Connecticut $101,930
Delaware $76,560
District of Columbia $74,740
Florida $65,230
Georgia $60,130
Hawaii $74,650
Idaho $47,490
Illinois $103,430
Indiana $83,090
Iowa $65,030
Kansas $56,040
Kentucky $61,120
Maine $72,150
Maryland $96,030
Michigan $72,390
Minnesota $60,860
Mississippi $65,430
Missouri $59,780
Nebraska $64,300
Nevada $88,460
New Hampshire $70,180
New Mexico $98,350
New York $85,190
North Carolina $64,740
North Dakota $70,130
Ohio $75,080
Oklahoma $61,410
Oregon $79,490
South Carolina $71,360
Tennessee $71,850
Texas $96,630
Utah $49,440
Vermont $62,410
Virginia $85,690
Washington $69,280
West Virginia $46,430
Wisconsin $97,970

What Tools & Technology do Real Estate Brokers Use?

Although they’re not necessarily needed for all jobs, the following technologies are used by many Real Estate Brokers:

  • Microsoft Excel
  • Microsoft Word
  • Microsoft Office
  • Microsoft PowerPoint
  • Microsoft Outlook
  • Web browser software
  • Adobe Systems Adobe Photoshop
  • Intuit QuickBooks
  • Microsoft Internet Explorer
  • Customer relationship management CRM software
  • Google Earth Pro
  • Propertyware
  • Showing Suite
  • Yardi Systems Yardi Voyager Commercial
  • Property Boulevard
  • Domin-8 Enterprise Solutions Tenant Pro
  • London Computer Systems Rent Manager

How to Become a Real Estate Broker

What kind of Real Estate Broker requirements are there?

undefined

How many years of work experience do I need?

undefined

Where Real Estate Brokers Are Employed

undefined

Real Estate Brokers work in the following industries:

undefined

Those interested in being a Real Estate Broker may also be interested in:

References:

Image Credit: Godrej Mamurdi Pune via Creative Commons Attribution-Share Alike 4.0 International

More about our data sources and methodologies.

Featured Schools

Find Graduate Schools Near You

Our free school finder matches students with accredited graduate schools across the U.S.