Real Estate Brokers

41-9021.00 Zone 4 — Considerable Preparation Needed

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, Broker Associate, Buyer Broker, Buyers Agent, Closing Agent, Contract Specialist, Dealer, Designated Broker, ...

Annual Salary

$72,280

Median annual wage (May 2024)

$48,200 25th – 75th percentile $114,220
10th percentile $36,920
90th percentile $166,730
U.S. Employment: 49,590

Job Outlook

+3.3%

Projected growth, 2024–2034 (About average)

Annual Job Openings 9,700 per year (avg. 2024–2034)
Typical education: High school diploma or equivalent
Experience: Less than 5 years

What You'd Do

  • Sell, for a fee, real estate owned by others.
  • Obtain agreements from property owners to place properties for sale with real estate firms.
  • Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
  • Compare a property with similar properties that have recently sold to determine its competitive market price.
  • 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.
  • Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
  • Check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.
  • Appraise property values, assessing income potential when relevant.
  • Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of a property's area.

Top Skills

Speaking 4.0
Reading Comprehension 3.9
Active Listening 3.9
Critical Thinking 3.9
Negotiation 3.6
Active Learning 3.6
Persuasion 3.5
Writing 3.4

Importance scale: 1 (low) – 5 (high)

Knowledge Areas

Sales and Marketing 4.5
Customer and Personal Service 4.3
English Language 4.1
Law and Government 4.0
Administration and Management 3.9
Economics and Accounting 3.5
Computers and Electronics 3.4
Mathematics 3.3

Importance scale: 1 (low) – 5 (high)

Education Level Distribution

Percentage of workers in this occupation by education level

Bachelor's
36.7%
Some College
23.7%
High School
12.4%
Post-Bacc Cert
8.6%
Professional
8.6%
Associate's
5.9%
< High School
3.3%

Technology & Tools

Software and tools commonly used in this role

In-Demand Technologies

Adobe Photoshop Facebook Intuit QuickBooks Microsoft Access Microsoft Active Server Pages ASP Microsoft Excel Microsoft Office software Microsoft Outlook Microsoft PowerPoint Microsoft Word Salesforce software Yardi software

Other Tools

AMTdirect AppFolio Property Manager Customer relationship management CRM software Deep Forest Systems OnCite Domin-8 Enterprise Solutions Tenant Pro Enterprise Software Systems CRE Sync First American CoreLogic RealQuest Pro Google Earth Pro Lease Cost Solutions LseMod London Computer Systems Rent Manager Microsoft Internet Explorer Property Boulevard Property records databases PropertyBoss Solutions PropertyBoss Propertyware +3 more

Work Styles

Personality traits and work styles important for this career

2.5
Social Orientation
2.5
Perseverance
2.4
Dependability
2.3
Self-Confidence
2.3
Attention to Detail
2.2
Integrity
2.2
Leadership Orientation

Key Abilities

Cognitive, physical, and sensory abilities important for this role

Oral Comprehension 4.0
Written Comprehension 4.0
Oral Expression 4.0
Speech Recognition 3.6
Speech Clarity 3.6
Deductive Reasoning 3.6
Near Vision 3.6
Written Expression 3.5

Importance scale: 1 (low) – 5 (high)

Work Activities

General types of job behaviors occurring on this job

Getting Information 4.4
Establishing and Maintaining Interpersonal Relationships 4.3
Updating and Using Relevant Knowledge 4.3
Working with Computers 3.9
Organizing, Planning, and Prioritizing Work 3.8
Performing Administrative Activities 3.8
Communicating with People Outside the Organization 3.8
Selling or Influencing Others 3.8

Importance scale: 1 (low) – 5 (high)

Work Environment

Physical and social factors that influence the nature of work

Telephone Conversations
5.0
E-Mail
5.0
Freedom to Make Decisions
4.9
Determine Tasks, Priorities and Goals
4.8
Face-to-Face Discussions with Individuals and Within Teams
4.8
Indoors, Environmentally Controlled
4.8
Contact With Others
4.7
In an Enclosed Vehicle or Operate Enclosed Equipment
4.6
Level of Competition
4.6
Frequency of Decision Making
4.6
Deal With External Customers or the Public in General
4.5
Impact of Decisions on Co-workers or Company Results
4.4

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Salary data: BLS Occupational Employment and Wage Statistics, May 2024. Outlook data: BLS Employment Projections, 2024–2034.

This page includes information from the O*NET 30.2 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license.