Career Overview
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.
Also Known As
- Broker
- Managing Broker
- Real Estate Broker
- Realtor
Alternate Job Titles
- Broker
- Broker Associate
- Buyer Broker
- Buyers Agent
- Closing Agent
- Contract Specialist
- Dealer
- Designated Broker
- Lease Administration Analyst
- Lease Analyst
- Lease Coordinator
- Leasing Professional
- Leasing Specialist
- Licensed Real Estate Broker
- Loan Specialist
What You'll Do
In this role, your typical responsibilities include:
- Sell, for a fee, real estate owned by others.
- Obtain agreements from property owners to place properties for sale with real estate firms.
- 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.
- Manage or operate real estate offices, handling associated business details.
- Compare a property with similar properties that have recently sold to determine its competitive market price.
- Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
Knowledge You'll Use
You'll need solid knowledge in these areas:
- Sales and Marketing
- Customer and Personal Service
- English Language
- Law and Government
- Administration and Management
- Economics and Accounting
Essential Skills
Success in this career requires strong skills in:
- Speaking
- Reading Comprehension
- Active Listening
- Critical Thinking
- Active Learning
- Negotiation
Key Abilities
This career requires key abilities in:
- Oral Comprehension
- Oral Expression
- Written Comprehension
- Deductive Reasoning
- Speech Recognition
- Near Vision
- Speech Clarity
- Written Expression
- Problem Sensitivity
- Inductive Reasoning
Work Style
People who excel in this career typically demonstrate:
- Social Orientation
- Perseverance
- Dependability
- Self-Confidence
- Attention to Detail
What Matters in This Career
This career tends to satisfy these work values:
- Independence
- Achievement
- Relationships
- Working Conditions
- Recognition
Education & Preparation
Typical Education: Bachelor's Degree
On-the-Job Training: Over 6 months, up to and including 1 year
Education Details: Most of these occupations require a four-year bachelor's degree, but some do not.
Experience Required: 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.
Technology You'll Use
Popular Technologies & Software
- Adobe Photoshop
- Intuit QuickBooks
- Microsoft Access
- Microsoft Active Server Pages ASP
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Word
Tools & Equipment
- 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
Work Environment
- Telephone Conversations
- Freedom to Make Decisions
- Determine Tasks, Priorities and Goals
- Face-to-Face Discussions with Individuals and Within Teams
Salary & Job Market
| Salary Percentile | Annual Wage |
|---|---|
| Entry-Level (10th percentile) | $36,920 |
| Median | $72,280 |
| Top Earners (90th percentile) | $166,730 |
Workers Employed Nationally: 49,590
Related Careers
If you're interested in this career, you might also consider:
Real Estate Sales Agents
Education: High School Diploma - or the equivalent (for example, GED)
Median Salary: $56,320
Property, Real Estate, and Community Association Managers
Education: Bachelor's Degree
Median Salary: $66,700
Appraisers and Assessors of Real Estate
Education: Bachelor's Degree
Median Salary: Varies
Securities, Commodities, and Financial Services Sales Agents
Education: Bachelor's Degree
Median Salary: $78,140
Financial and Investment Analysts
Education: Not specified
Median Salary: $101,350
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Occupational data sourced from the O*NET OnLine database, developed by the U.S. Department of Labor, Employment and Training Administration. Wage data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), 2024.