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.
- 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.
- Supervise agents who handle real estate transactions.
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 states||Hourly||Annual|
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.
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|
Pros and Cons
Here are some of the pros and cons of being a Real Estate Broker.
|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|
|Not suitable for people who likes to solve problems mentally|
|Long working hours (More than 40 hours per week)|
What is the job like
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
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.
Related 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, careers in Sales and Marketing
Broker, Broker Assistant, Broker Associate, Buyer Broker, Closing Agent, Contract Specialist, Dealer, Designated Broker, Lease Administration Analyst, Lease Analyst