Real Estate Brokers: Salary, Job Description, How To Become One, and Quiz

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

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.

$78940
Salary
67%
Job Satisfaction
Hard
Becoming One
Medium
Job Growth
Suitable Personality

Real Estate Brokers

Salary, Job Description, How To Become One, and More


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.




    Become one

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    Salary

    Average salary
    $78940 per year

    Average hourly wage
    $38 per hour


    Real Estate Brokers with little to no experience tend to make between $22750 and $36580 while the more experienced ones can earn over $92790 per year.

    Top 5 paying statesHourlyAnnual
    IL$50$103,430
    CT$49$101,930
    NM$47$98,350
    WI$47$97,970
    TX$46$96,630

    One of the easiest ways to increase your salary as a Real Estate Broker is to move to a higher paying state like IL. Right now, the highest paying states for Real Estate Brokers are IL, CT, NM, WI and TX.

    However a higher pay at IL doesn’t guarantee that you will make more because the living expenses at IL might be twice as high than where you are currently at now.

    Three 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.



    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 Bachelor’s Degree followed by a College Certificate.

    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

    Read more about how to become a Real Estate Broker and the degree, training and education you need.



    Pros and Cons

    Here are some of the pros and cons of being a Real Estate Broker.

    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 work-related 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)



    What is the job like

    Job satisfaction
    67%

    Is this job meaningful
    69%


    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 Entrepreneurs 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.



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