What Do Real Estate Brokers Do (including Their Typical Day At Work)

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Job Description, Daily Responsibilities, and Work Life.

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. They also sell, for a fee, real estate owned by others.

Other tasks include:

  • 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.
  • 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.

We asked Real Estate Brokers how satisfied they are with their job. Here is what they said.

Job satisfaction

67%

How meaningful is this job

69%


67% of them said they were satisfied with their job and 69% said they find that their job makes the world a better place or helps to make someone else’s life better.



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Typical Day At Work

On a daily basis, Real Estate Brokers manage or operate real estate offices, handling associated business details. They act as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.

A typical day for a Real Estate Broker will also include:

  • Generate lists of properties for sale, their locations, descriptions, and available financing options, using computers.
  • Obtain agreements from property owners to place properties for sale with real estate firms.
  • Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
  • Supervise agents who handle real estate transactions.
  • Sell, for a fee, real estate owned by others.

We asked some Real Estate Brokers a few questions to find out what else does their work day look like. Here is what we found.

Do you have telephone conversations everyday in this job?100% said yes
How important is it to work in a team in this job?49% said very important
Do you have group discussions everyday in this job?82% said yes
Do you talk or work with customers everyday in this job?55% said yes
Do you have to deal with angry customers everyday in this job?22% said yes
Do you have to make decisions everyday in this job?64% said yes

Other responsibilities

Besides their typical day, Real Estate Brokers also appraise property values, assessing income potential when relevant. They may also check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.

On a weekly to monthly basis, Real Estate Brokers Generate lists of properties for sale, their locations, descriptions, and available financing options, using computers. They might also Arrange for financing of property purchases.

In addition, they Arrange for title searches of properties being sold.

Although specific duties may vary, many of them Give buyers virtual tours of properties in which they are interested, using computers.

To some Real Estate Brokers, it is also their responsibility to Rent properties or manage rental properties.


Working life

Working hours

More than 40 hours per week

Working schedule

Irregular work schedule that changes depending on weather conditions, customer demand or contract duration.

In a typical work week as a Real Estate Broker, you can expect to work more than 40 hours per week.

Do Real Estate Brokers work in an office-style work environment?

Every day
84%


Once a week
13%


Do Real Estate Brokers work outdoors?

Once a week
70%


Every day
17%



Is this right for me

Best personality for this career

The Entrepreneurs and The Organizers

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.

You can read more about these career personality types here.




Learn more about Real Estate Brokers

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Related to Real Estate Brokers Job Description

Real Estate Brokers job description, what do Real Estate Brokers do, typical day for Real Estate Brokers, what is it like to work as a Real Estate Broker, how many hours do Real Estate Brokers work, day to day work of a Real Estate Broker

Additional resources

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


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