Also known as Broker, Broker Associate, Designated Broker, Managing Broker, Real Estate Associate, Real Estate Broker, Real Estate Sales Associate, Realtor, Supervising Broker
Also known as Broker, Broker Associate, Designated Broker
Real Estate Brokers operate real estate office, or work for commercial real estate firm, overseeing real estate transactions.
In addition, Real Estate Brokers other duties usually include selling real estate or renting properties and arranging loans.
Real Estate Brokers are often responsible for overseeing or executing some or all of the following tasks:
The above responsibilities are specific to Real Estate Brokers. More generally, Real Estate Brokers are involved in several broader types of activities:
The median salary for a Real Estate Broker is $60,370, and the average salary is $81,630. Both the median and average roughly describe the middle of the Real Estate Broker salary range, but the average is more easily affected by extremely high or low salaries.
Many Real Estate Brokers earn significantly more or less than the average, due to several factors. About 10% of Real Estate Brokers earn less than $25,460 per year, 25% earn less than $38,170, 75% earn less than $97,080, and 90% earn less than $174,120.
Between the years of 2020 and 2030, the number of Real Estate Brokers is expected to change by 4.5%, and there should be roughly 10,100 open positions for Real Estate Brokers every year.
Career interests describe a person's preferences for different types of working environments and activities. When a person's interest match the demands of an occupation, people are usually more engaged and satisfied in that role.
Compared to most occupations, those who work as a Real Estate Broker are usually higher in their Enterprising and Conventional interests.
Real Estate Brokers typically have very strong Enterprising interests. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Also, Real Estate Brokers typically have strong Conventional interests. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
People differ in their values, or what is most important to them for building job satisfaction and fulfillment.
Compared to most people, those working as a Real Estate Broker tend to value Independence, Achievement, and Relationships.
Most importantly, Real Estate Brokers strongly value Independence. Occupations that satisfy this work value allow employees to work on their own and make decisions.
Second, Real Estate Brokers moderately value Achievement. Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment.
Lastly, Real Estate Brokers moderately value Relationships. Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment.
Each occupation brings its own set of psychological demands, which describe the characteristics necessary to perform the job well.
In order to perform their job successfully, people who work as Real Estate Brokers must consistently demonstrate qualities such as integrity, initiative, and stress tolerance.
Below, you'll find a list of qualities typically required of Real Estate Brokers, ranked by importance:
Many Real Estate Brokers will have a four-year bachelor's degree, but some do not.
Real Estate Brokers usually need several years of work-related experience, on-the-job training, and/or vocational training.
Real Estate Brokers may benefit from understanding of specialized subject areas, such as sales and marketing, customer and personal service, or law and government knowledge.
The list below shows several areas in which most Real Estate Brokers might want to build proficiency, ranked by importance.
Real Estate Brokers must develop a particular set of abilities to perform their job well. Abilities are individual capacities that influence a person's information processing, sensory perception, motor coordination, and physical strength or endurance. Individuals may naturally have certain abilities without explicit training, but most abilities can be sharpened somewhat through practice.
For example, Real Estate Brokers need abilities such as oral comprehension, written comprehension, and oral expression in order to perform their job at a high level. The list below shows several important abilities for Real Estate Brokers, ranked by their relative importance.
Skills are developed capacities that enable people to function effectively in real-world settings. Unlike abilities, skills are typically easier to build through practice and experience. Skills influence effectiveness in areas such as learning, working with others, design, troubleshooting, and more.
Real Estate Brokers frequently use skills like speaking, reading comprehension, and active listening to perform their job effectively. The list below shows several critical skills for Real Estate Brokers, ranked by their relative importance.
The information provided on this page is adapted from data and descriptions published by the U.S. Department of Labor, Employment and Training Administration under the CC BY 4.0 license. TraitLab has modified some information for ease of use and reading, and the U.S. Department of Labor, Employment, and Training Administration has not approved, endorsed, or tested these modifications.
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