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Real Estate Brokers in Iowa

Thinking about a career as a Real Estate Brokers in Iowa? Below are the key facts. 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 Make in Iowa?

The real estate brokers working in Iowa, wages run about $116,920 per year (or roughly $56.21/hour).Pay can range from $38,270 at the 10th percentile to $157,100 at the 90th percentile.

Wage Statistic	Annual	Hourly
10th percentile	$38,270	$18.40
25th percentile	$40,000	$19.23
Median (50th)	$116,920	$56.21
75th percentile	$157,100	$75.53
90th percentile	$157,100	$75.53

The location quotient — a measure of how concentrated this occupation is in Iowa nationwide is 1.48, indicating that real estate brokers are more concentrated here than the national average.

National Wage Comparison

Nationally, real estate brokers earn a median of $36,148 per year ($17.38/hour), exceeding the Iowa median.

Employment Outlook

There are roughly 981,510 real estate brokers nationwide. In Iowa alone, about 740 people work in this role. That puts the state above the typical state, which employs around 550 real estate brokers.

Top Iowa Metros for Real Estate Brokers

The largest metro-area employers of real estate brokers in Iowa.

Metro Area	Number Employed	Annual Median Salary
Des Moines-West Des Moines, IA	330	$157,100
Davenport-Moline-Rock Island, IA-IL	80	$39,990

Top States for Real Estate Brokers Employment

These states have the highest employment of real estate brokers work.

State	Number Employed
California	7,250
Georgia	4,160
Texas	3,370
Oregon	1,620
Illinois	1,620
Virginia	1,580
Missouri	1,580
South Carolina	1,490
North Carolina	1,330
Pennsylvania	1,100
Minnesota	1,090
Indiana	840
Iowa	740
Wisconsin	710
Michigan	660
Louisiana	550
Tennessee	550
Kansas	460
Alabama	450
Ohio	400

Highest-Paying States for Real Estate Brokers

The highest-paying states for real estate brokers.

State	Annual Median Salary
Iowa	$116,920
Massachusetts	$112,180
New York	$94,170
New Jersey	$92,890
Connecticut	$90,910
Nevada	$86,730
Maryland	$82,500
Vermont	$82,270
California	$82,050
Washington	$81,450

Skills

The most important real estate brokers skills, rated on an importance scale of 0 to 5:

Knowledge Areas

Core knowledge areas for this occupation, rated on an importance scale of 0 to 5:

Abilities

The abilities that matter most for real estate brokers, rated on an importance scale of 0 to 5:

Daily Tasks

Common tasks include:

• 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.
• Generate lists of properties for sale, their locations, descriptions, and available financing options, using computers.
• Manage or operate real estate offices, handling associated business details.
• 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 a property's area.
• Arrange for title searches of properties being sold.

Work Activities

• Getting Information
• Establishing and Maintaining Interpersonal Relationships
• Updating and Using Relevant Knowledge
• Working with Computers
• Organizing, Planning, and Prioritizing Work
• Performing Administrative Activities
• Communicating with People Outside the Organization
• Selling or Influencing Others
• Identifying Objects, Actions, and Events
• Making Decisions and Solving Problems
• Documenting/Recording Information
• Analyzing Data or Information

Tools & Technology

Software and systems commonly involved: Hot technologies: Adobe Photoshop, Facebook In-demand technologies: Microsoft Office software

What Major Will Prepare You For This Career?

Related college programs include:

• Real Estate
• Real Estate Development

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Related Careers

Related occupations to real estate brokers include:

• Property, Real Estate, and Community Association Managers
• Wholesale and Retail Buyers, Except Farm Products
• Purchasing Agents, Except Wholesale, Retail, and Farm Products
• Appraisers of Personal and Business Property
• Appraisers and Assessors of Real Estate
• Credit Analysts

Also Known As

Broker, Broker Associate, Buyer Broker, Buyers Agent, Closing Agent, Contract Specialist, Dealer, Designated Broker, Lease Administration Analyst, Lease Analyst, Lease Coordinator, Leasing Professional, Leasing Specialist, Licensed Real Estate Broker, Loan Specialist.

References

• U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
• O*NET Online — https://www.onetonline.org/
• BLS Employment Projections — https://www.bls.gov/emp/
• O*NET-SOC code: 41-9021.00