What is a Real Estate Broker?
Position 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.
What Do Real Estate Brokers Do On a Daily Basis?
- Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
- 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.
- Act as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.
- Rent properties or manage rental properties.
- Develop, sell, or lease property used for industry or manufacturing.
- Sell, for a fee, real estate owned by others.
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Real Estate Broker Needed Skills
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.
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
- Real Estate Salesperson
- Realtor
- Contract Specialist
- Supervising Broker
Are There Job Opportunities for Real Estate Brokers?
In 2016, there was an estimated number of 95,300 jobs in the United States for Real Estate Broker. 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.
Do Real Estate Brokers Make A Lot Of Money?
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.
How much do Real Estate Brokers make in each U.S. state?
| 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 |
Tools & Technologies Used by Real Estate Brokers
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
What education is needed to be a Real Estate Broker?
How many years of work experience do I need?
Who Employs Real Estate Brokers?
Real Estate Brokers work in the following industries:
Similar Careers
Those thinking about becoming a Real Estate Broker might also be interested in the following careers:
References:
Image Credit: Godrej Mamurdi Pune via Creative Commons Attribution-Share Alike 4.0 International
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