Real Estate Brokers
SOC: 41-9021.00

Description:

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.


National Salary Information:

Hourly Statistics:

Annual Statistics:

Source: Bureau of Labor Statistics 2015 wage data.


Employment Projections:

Employment (2014):
83,900 employed

Projected (2024):
85,400 employed

Projected growth (2014-2024)


Source: Bureau of Labor Statistics 2015 2014-2024 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.


Alternate Titles:

  • Broker
  • Broker Assistant
  • Broker Associate
  • Buyer Broker
  • Closing Agent
  • Contract Specialist
  • Dealer
  • Designated Broker
  • Lease Administration Analyst
  • Lease Analyst
  • Licensed Real Estate Broker
  • Managing Broker
  • Real Estate Associate
  • Real Estate Broker
  • Real Estate Closer
  • Real Estate Sales Associate
  • Real Estate Salesperson
  • Realtor
  • Realty Loan Specialist
  • Realty Specialist
  • Supervising Broker


  • Job Zone Four: Considerable Preparation Needed

    Experience:

    A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

    Education:

    Most of these occupations require a four-year bachelor's degree, but some do not.

    Job Training:

    Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.


    Required Skills:

  • Reading Comprehension
  • Active Listening
  • Writing
  • Speaking
  • Mathematics
  • Critical Thinking
  • Active Learning
  • Learning Strategies
  • Monitoring
  • Social Perceptiveness
  • Coordination
  • Persuasion
  • Negotiation
  • Instructing
  • Service Orientation
  • Complex Problem Solving
  • Operations Analysis
  • Technology Design
  • Programming
  • Operation Monitoring
  • Operation and Control
  • Troubleshooting
  • Quality Control Analysis
  • Judgment and Decision Making
  • Systems Analysis
  • Systems Evaluation
  • Time Management
  • Management of Financial Resources
  • Management of Material Resources
  • Management of Personnel Resources

  • Knowledge Used:

  • Administration and Management
  • Clerical
  • Economics and Accounting
  • Sales and Marketing
  • Customer and Personal Service
  • Personnel and Human Resources
  • Production and Processing
  • Computers and Electronics
  • Engineering and Technology
  • Design
  • Building and Construction
  • Mechanical
  • Mathematics
  • Physics
  • Chemistry
  • Psychology
  • Sociology and Anthropology
  • Geography
  • Education and Training
  • English Language
  • Foreign Language
  • History and Archeology
  • Philosophy and Theology
  • Public Safety and Security
  • Law and Government
  • Telecommunications
  • Communications and Media
  • Transportation


  • Tasks:

  • Sell, for a fee, real estate owned by others.
  • 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.
  • Compare a property with similar properties that have recently sold to determine its competitive market price.
  • 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.
  • 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.
  • Arrange for financing of property purchases.
  • Appraise property values, assessing income potential when relevant.
  • Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of the area where a property is located.
  • Manage or operate real estate offices, handling associated business details.
  • Supervise agents who handle real estate transactions.
  • Rent properties or manage rental properties.
  • Arrange for title searches of properties being sold.
  • Give buyers virtual tours of properties in which they are interested, using computers.
  • Review property details to ensure that environmental regulations are met.
  • Develop, sell, or lease property used for industry or manufacturing.
  • Maintain working knowledge of various factors that determine a farm's capacity to produce, such as agricultural variables and proximity to market centers and transportation facilities.

  • Tools & Technology:

  • Computer laser printers
  • Desktop computers
  • Digital cameras
  • Digital video cameras
  • Handheld calculators
  • Laptop computers
  • Laser facsimile machines
  • Measuring tapes
  • Passenger vehicles
  • Personal computers
  • Personal digital assistants PDA
  • Photocopying equipment
  • Adobe Systems Adobe Photoshop software
  • AMTdirect
  • AppFolio Property Manager
  • Customer relationship management CRM software
  • Deep Forest Systems OnCite
  • Domin-8 Enterprise Solutions Tenant Pro
  • Enterprise Software Systems CRE Sync
  • First American CoreLogic RealQuest Pro
  • Google Earth Pro
  • Intuit QuickBooks software
  • Lease Cost Solutions LseMod
  • London Computer Systems Rent Manager
  • Microsoft Excel
  • Microsoft Internet Explorer
  • Microsoft Office software
  • Microsoft Outlook
  • Microsoft PowerPoint
  • Microsoft Word
  • Property Boulevard
  • Property records databases
  • PropertyBoss Solutions PropertyBoss
  • Propertyware
  • Real Estate Assistant REA
  • Real estate listing databases
  • RealData REIA
  • Showing Suite
  • Visual Lease
  • Web browser software
  • Yardi Systems Yardi Voyager Commercial


  • sales and related


    industry stats

    SOC: 41-0000

    Total Employed: 14,462,120

    Average Annual Salary: $39,320