What Do Real Estate Broker Do?
Occupation 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.
A Day in the Life of a Real Estate Broker
- 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 financing of property purchases.
- Sell, for a fee, real estate owned by others.
- Rent properties or manage rental properties.
- Supervise agents who handle real estate transactions.
- Develop, sell, or lease property used for industry or manufacturing.
Featured schools near , edit
Real Estate Broker Skills
Real Estate Brokers state the following job skills are important in their day-to-day work.
Speaking: Talking to others to convey information effectively.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
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.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.
Negotiation: Bringing others together and trying to reconcile differences.
Types of Real Estate Broker
- Real Estate Associate
- Supervising Broker
- Lease Analyst
- Realtor
- Closing Agent
Is There Going to be Demand for Real Estate Brokers?
In the United States, there were 95,300 jobs for Real Estate Broker in 2016. 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.
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.
Salary for a Real Estate Broker
The typical yearly salary for Real Estate Brokers is somewhere between $22,750 and $163,540.
Real Estate Brokers who work in Tennessee, Connecticut, or Texas, make the highest salaries.
Below is a list of the median annual salaries for Real Estate Brokers 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?
Below is a list of the types of tools and technologies that Real Estate Brokers may use on a daily basis:
- 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
- Domin-8 Enterprise Solutions Tenant Pro
- London Computer Systems Rent Manager
- Property Boulevard
- Showing Suite
- Yardi Systems Yardi Voyager Commercial
How to Become a Real Estate Broker
Education needed to be a Real Estate Broker:
What work experience do I need to become a Real Estate Broker?
Where Real Estate Brokers Are Employed
Below are examples of industries where Real Estate Brokers work:
Similar Careers
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
You have goals. Southern New Hampshire University can help you get there. Whether you need a bachelor's degree to get into a career or want a master's degree to move up in your current career, SNHU has an online program for you. Find your degree from over 200 online programs.
Visit School
BusinessDegreeCentral.com provides higher-education, college and university, degree, program, career, salary, and other helpful information to students, faculty, institutions, and other internet audiences. Presented information and data are subject to change. Inclusion on this website does not imply or represent a direct relationship with the company, school, or brand. Information, though believed correct at time of publication, may not be correct, and no warranty is provided. Contact the schools to verify any information before relying on it. Financial aid may be available for those who qualify. The displayed options may include sponsored or recommended results, not necessarily based on your preferences.
© BusinessDegreeCentral.com – All Rights Reserved.