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.

Median Annual Wage: $57,360

Education: Bachelor's degree (37%); Some college, no degree (24%); High school diploma or equivalent (12%)

Projected Growth: Average (8% to 14%)

Related Job Titles: Broker; Real Estate Broker; Realtor; Broker Associate; Real Estate Associate; Broker Assistant; Designated Broker; Managing Broker; Real Estate Sales Associate; Supervising Broker

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Source: O*NET OnLine information for Real Estate Brokers.

More Sales and Related Careers

  • 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.
  • Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
  • Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
  • 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 the area where a property is located.
  • Arrange for title searches of properties being sold.
  • Appraise property values, assessing income potential when relevant.

Source: O*NET OnLine information for Real Estate Brokers.

  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Negotiation - Bringing others together and trying to reconcile differences.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Persuasion - Persuading others to change their minds or behavior.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.

Source: O*NET OnLine information for Real Estate Brokers.

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