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Real Estate Broker

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AVG. SALARY

$75,890

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EDUCATION

Post-secondary training +

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JOB OUTLOOK

Decreasing

What They Do

Real Estate Brokers Career Video

About This Career

Operates real estate office, or works for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.

This career is part of the Marketing cluster Professional Sales pathway.

A person in this career:

  • Sells, for a fee, real estate owned by others.
  • Obtains agreements from property owners to place properties for sale with real estate firms.
  • Acts as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.
  • Generates lists of properties for sale, their locations, descriptions, and available financing options, using computers.
  • Manages or operates real estate offices, handling associated business details.
  • Compares a property with similar properties that have recently sold to determine its competitive market price.
  • Maintains knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
  • Monitors fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
  • Checks work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.
  • Rents properties or manages rental properties.

Working Conditions and Physical Demands

People who do this job report that:

  • You would sit most of the time. There's some walking and standing. You may have to lift and carry things like books, papers or tools weighing 10 lbs. or less.
  • Work in this occupation requires being inside most of the time
  • Work in this occupation requires being outside most of the time
  • Work in this occupation involves sitting more than one-third of the time

Working in this career involves (physical activities):

  • Seeing clearly up close
  • Speaking clearly enough to be able to be understood by others
  • Identifying and understanding the speech of another person

Work Hours and Travel

  • Irregular hours
  • Weekend work

Specialty and Similar Careers

Careers that are more detailed or close to this career:

  • Broker — Sells and manages insurance products across companies and risk types.
  • Broker Associate
  • Designated Broker
  • Managing Broker
  • Real Estate Associate
  • Real Estate Sales Associate
  • Realtor