What does a Real Estate Broker do?

Real estate brokers assist clients in the purchase, sale, or rental of available properties and lots that are on the market. A real estate broker works as the manager of their own business and the properties they sell or rent are typically owned by others.

Real estate brokers can represent the buyers and sellers or the tenants and landlords during a real estate transaction. If they are serving as the broker for a buyer or renter, they will visit with their client to understand their needs and budget. As a broker for a seller or landlord, they will meet with clients to decide the sale or rental price. They also research properties that suit their clients’ terms and needs and promote their properties to ensure they will receive the best offers. They are typically experts on recent trends, including comparable prices for similar properties listed and sold, available inventory, and amenities in the communities where they work. Real estate brokers also cultivate relationships with the potential financial institutions that write buyers their loans and have either a bachelor’s degree or certificate related to real estate. Depending upon the state they operate in, they may be required to need at least 1-3 years of recent experience selling real estate.

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Average Years of Experience

0 - 1
12%
2 - 4
69%
5 - 7
8%
8+
11%

Common Skill Sets

Microsoft Office Suite
Negotiation
Excellent Customer Service
Effective Communication
Highly Organized
Time Management
Prospects
Powerpoint

Real Estate Broker Seniority Levels

Leasing Agent
14% made the transition
Realtor
13% made the transition
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Real Estate Broker Salaries

Average Base Pay

$81,038 /yr
Same as national average
Not including cash compensation
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$40K
Median: $81K
$165K
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Glassdoor Estimated Salary

Real Estate Broker Jobs

Real Estate Broker Interviews