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.
- Stay informed on home values and offer appropriate advice to clients on how much they should sell a home for or offer on a home.
- Network with other Real Estate Sales Representatives to create positive relationships.
- Backed by our recruiting team to help you hire as many Agents as possible and grow your revenue.
- Execute programs, processes and practices to achieve goals and initiatives.
- Represent and advise clients during sales and purchase negotiations.
- Consult with clients to discover their property desires and goals.
- Establish and maintain relationships with key customers, program administrators, industry influencers and key strategic partners.
- Anticipate a client's wants, needs, goals and able to provide superior 'concierge' level service.
- Provide a wide range of administrative and customer service support to broker community.
- Maintain a pipeline, contacts, and tasks in CRM system.
- Ensure staff compliance with all applicable company and regulatory policies and procedures.
- Provide up-to-date information regarding customers and where they are in the home buying and selling process so that agents act quickly and efficiently.
- Explain all purchase agreement documentation including land and home contracts.
- Receive orders from customers via phone, email, IM, HMS software or broker and enter into appropriate trading system.
- Bachelor's Degree in business or business administration or equivalent experience.
- Prior experience with business case development.
- Is a critical thinker and problem solver.
- Prior experience as a consultant.
- A collaborator and decision maker.
- Strong time management and professionalism skills.
- Experience with spreadsheets.
- Demonstrated negotiation and attention to detail.
- Fluent in inventories and pipelines.
- Experience with a variety of applicable programs, software, and systems.
- Can work with confidence and a positive attitude.
How much does a Real Estate Broker make?
Real Estate Broker Career Path
Learn how to become a Real Estate Broker, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Real Estate Broker Insights
“No basic salary but it also gives you your own choices in what you earn which is also good.”
“life balance is just really great and I have what I can call second family here.”
“This is great for closers but you have to listen to everyone else complain because this is too well known.”
“When getting started in the industry you ideally want good training (Ray White does this better).”
“Nothing but a great team who is actually there to help you launch your RE career.”
“Nothing much to add but they can really do well if they give good opportunities to their employees in terms of their bright career”
“I and many others on my team always felt like we were sacrificing our mental well”
“Eventually he becomes abusive and impossible to work with.”
Real Estate Broker Interviews
Frequently asked questions about the roles and responsibilities of a Real Estate Broker
- Leasing Agent
- Solar Broker
- Sales Representative