Real Estate Brokers: Salary, Job Description, How To Be One and More

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Real Estate Brokers jobs information
pros and cons of being a Real Estate Broker

Real Estate Brokers

Other names for this job might include Broker, Broker Assistant, Broker Associate, Buyer Broker, Closing Agent, Contract Specialist, Dealer, Designated Broker, Lease Administration Analyst, Lease Analyst


  • $80210
    Salary
  • 67%
    Job satisfaction
  • Medium
    Becoming one
  • Medium
    Job growth
OwlGuru Rank

B



Real Estate Brokers: Know It All In 1 Minute


In this career summary, you will find out what the job of A Real Estate Broker is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

Real Estate Brokers 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.


    Read more about what does A Real Estate Broker really do at work and what is it like being and working as one.


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    Salary

    Average salary
    $80210 per year

    Hourly wage
    $38.56 an hour


    Real Estate Brokers with little to no experience tend to make between $23400 and $32970 while the more experienced ones make over $99080 per year.

    Top 5 paying statesHourlyAnnual
    DC$71.51$148730
    NH$63.75$132600
    NV$58.39$121440
    OH$57.54$119680
    HI$57.03$118630

    1 of the easiest ways to increase your salary as A Real Estate Broker is to move to a higher paying state like DC. Right now, the highest paying states for Real Estate Brokers are DC, NH, NV, OH and HI.

    However a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be 2x higher than where you are currently at now.

    3 other factors that can increase your salary as A Real Estate Broker is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).

    Find out how much do successful Real Estate Brokers make and if their salary is high when compared to all the other careers.


    Requirements

    Recommended degree level
    Between Post-Secondary Certificate and Associate’s Degree

    We asked other Real Estate Brokers what degree they had when they got the job and most of them said they had a Bachelors degree followed by Some college courses.

    Other than that we also asked them what did they major in and here are the most popular majors that came up.

    Real Estate Development
    Real Estate

    Another popular question from our readers is what makes A Real Estate Broker successful or would they be good in this career.

    Well, we found that most successful Real Estate Brokers have these 5 skillsets.

    Speaking
    Reading Comprehension
    Active Listening
    Critical Thinking
    Active Learning

    In addition to that, 1 common characteristic among successful Real Estate Brokers is they are good at Integrity. Here are the top 5 common characteristics.

    Integrity
    Initiative
    Stress Tolerance
    Persistence
    Attention to Detail
    = Hot in-demand that most employers are looking for

    Read more about what it really takes to become A Real Estate Broker and the degree, training and education you need


    Pros and Cons

    Here are some reasons why you should and shouldn’t choose A Real Estate Broker as your career.

    PROS
    Suitable for people who likes to start and carry out projects
    Suitable for people who wants independence and likes to work on their own and make decisions
    This career is perfect for people who love to work indoors.
    It is not too difficult to get into this career. Previous workrelated skill, knowledge, or experience is required for this career.
    Demand for this career is growing fast
    CONS
    Not suitable for people who likes to solve problems mentally
    Long working hours (More than 40 hours per week)


    There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.

    A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.



    What is the job like

    Job satisfaction
    67%

    Is this job meaningful
    69%


    Working hours
    More than 40 hours per week

    Working schedule
    Irregular (Changes with weather conditions, production demands or contract duration)


    On a normal working week Real Estate Brokers work More than 40 hours per week.

    67% of Real Estate Brokers said they were satisfied with their job and 69% said they feel like their job is making other people’s lives better.



    Is this right for me

    Best personality for this career
    The Persuaders and The Organizers


    You can read more about these career personality types here.

    People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.

    They also like following set procedures and routines. They like working with data and details more than with ideas.



    How we can help

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    Rank: B
    Salary: $55530

    They rent, buy, or sell property for clients. Perform duties, such as study property listings, interview prospective clients, accompany clients to property site, discuss conditions of sale, and draw up real estate contracts. Includes agents who represent buyer.
    Rank: A
    Salary: $73670

    They evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
    Rank: B+
    Salary: $58010

    They appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
    Rank: A
    Salary: $65880

    They plan, direct, or coordinate the selling, buying, leasing, or governance activities of commercial, industrial, or residential real estate properties. Includes managers of homeowner and condominium associations, rented or leased housing units, buildings, or land (including rights-of-way).
    Rank: C+
    Salary: $60910

    They sell or solicit advertising space, time, or media in publications, signage, TV, radio, or the Internet. Includes individuals who obtain leases for outdoor advertising sites or persuade retailers to use sales promotion display items.






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    Career type

    Sales and Marketing
    Professional Sales and Marketing

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    Learn more about Real Estate Brokers

    Summary (You are here)
    Job Description
    Salary
    Requirements
    Is This Right For Me

    Study To Be A Real Estate Broker


    Related to Real Estate Brokers Career Information

    Real Estate Brokers job description, Real Estate Brokers salary, Real Estate Brokers information, what is the job of a Real Estate Broker like, pros and cons about Real Estate Brokers, colleges and universities for Real Estate Brokers, is Real Estate Brokers the right career for me, Medium careers to get into, careers in Sales and Marketing

    Additional resources

    http://www.bls.gov/OOH/sales/real-estate-brokers-and-sales-agents.htm
    http://www.nareb.com/
    http://www.realtor.org/

    OwlGuru.com
    OwlGuru.com is a career and college finder site. We help students to find a career and college that is right for them.
    Real Estate Brokers
    Written by: Stanley Tan
    Real Estate Brokers 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.
    4 / 5 stars

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