Occupation · SOC 41-9021
Real Estate Brokers
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.
Median wage
$72,280
$36,920–$166,730
Projected growth
—
—
Annual openings
—
per year
Employed (US)
49,590
Job Zone 4
Typical preparation
Considerable preparation
Stackable credential programs
221 mapped
Core skills
SpeakingActive ListeningCritical ThinkingReading ComprehensionNegotiationActive LearningPersuasionJudgment and Decision Making
Knowledge areas
Sales and MarketingCustomer and Personal ServiceEnglish LanguageLaw and GovernmentAdministration and Management
Technology & tools
Graphics or photo imaging softwareData base user interface and query softwareCustomer relationship management CRM softwareWeb page creation and editing softwareGeographic information system
Representative tasks
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 settlemen
Competency framework
Skill expectations by proficiency level.
emerging
Property listings and MLS database tools — enter and organize under direct broker supervision in a licensed real estate office.Real estate terminology and fair housing law fundamentals — recognize and apply when reviewing purchase agreements with senior broker guidance.Comparable sales data — gather and compile from MLS and public records to support competitive market price analyses under supervision.Client inquiries and property descriptions — respond to and document using CRM software following established office protocols.Purchase contract terms and milestone deadlines — monitor a checklist of fulfillment requirements under direct oversight of a supervising broker.Property owner prospecting scripts and listing presentation materials — prepare and rehearse before accompanied listing appointments.Basic mortgage types and financing options — identify and explain to prospective buyers using approved office reference materials.Office suite and internet browser software — use to draft correspondence, maintain calendars, and retrieve property and market information.Active listening and professional communication skills — demonstrate during initial client intake meetings under broker observation.Real estate license law requirements and local market geography — study and apply to day-to-day task completion in a supervised brokerage environment.
developing
Residential property listings — manage end-to-end on behalf of sellers, from signed listing agreement through MLS publication, with routine broker check-ins.Listing agreements and seller representation contracts — obtain independently from property owners by conducting persuasive, client-centered consultations.Buyer-seller price negotiations — facilitate using practiced negotiation techniques, resolving common objections in standard residential transaction scenarios.Competitive market analyses — conduct by comparing subject properties with recently sold comparables, adjusting for condition and location with limited oversight.CRM software and geographic information systems — use routinely to maintain client pipelines, map target neighborhoods, and schedule follow-up activities.Mortgage financing options and government assistance programs — advise clients on with confidence, coordinating referrals to appropriate lenders.Purchase contract milestones — track and communicate proactively to all parties, escalating issues to the broker only when non-routine complications arise.Real estate law updates and local economic trends — incorporate into client communications through ongoing self-directed reading and continuing education.Property marketing materials and web page listings — create using photo imaging and web editing software to attract qualified buyer interest.Time management across multiple concurrent transactions — apply prioritization strategies to meet all contractual deadlines in a busy brokerage environment.
proficient
Complex residential and commercial property transactions — manage autonomously as the lead agent, representing sellers for a fee across diverse property types and price points.Listing inventory and seller relationships — develop and sustain through a self-generated referral network, consistently securing listing agreements without broker direction.Multi-party negotiations involving price, contingencies, and settlement terms — lead through closing, resolving non-routine disputes and protecting client interests effectively.Comprehensive property valuation reports — produce by synthesizing comparable sales, local economic data, and building condition assessments into well-supported pricing recommendations.Real estate office business operations — oversee day-to-day, including transaction coordination, vendor relationships, and compliance with licensing and fair housing regulations.Advanced CRM, accounting software, and spreadsheet tools — leverage to analyze sales performance metrics, forecast revenue, and optimize client follow-up workflows.Financing structure alternatives including conventional, FHA, VA, and seller-carry options — evaluate and recommend to clients navigating complex financial situations.Purchase contract risk and contingency clauses — interpret and advise on with authority, applying deep knowledge of state real estate law and case precedent.Written purchase offers, counteroffers, and addenda — draft with precision and persuasive clarity, ensuring legal sufficiency across varied transaction scenarios.Market trend intelligence and competitive landscape analysis — synthesize from multiple data sources to counsel institutional and high-net-worth clients on investment decisions.
advanced
Brokerage vision, brand standards, and strategic growth objectives — define and communicate, setting organizational direction for agents across multiple office locations.Agent recruitment, licensing, mentorship, and performance accountability systems — design and lead to build a high-producing, compliant sales team.Firm-wide listing and transaction volume targets — establish, monitor against market benchmarks, and adjust strategies to sustain competitive market position.Real estate law, regulatory change, and industry policy — interpret at an expert level and translate into updated office policies, training, and compliance frameworks.Complex commercial, multi-family, and mixed-use transactions — lead as principal broker, structuring deals that balance client financial goals with legal and market realities.Brokerage technology stack including CRM, GIS, accounting, and web platform tools — evaluate, select, and govern enterprise-wide to maximize agent productivity and client experience.Cross-functional relationships with lenders, title companies, municipal authorities, and legal counsel — manage at an executive level to ensure seamless transaction ecosystems.Organizational financial performance including revenue, commission structures, and expense management — oversee using accounting and spreadsheet platforms to sustain brokerage profitability.Thought leadership on market economics, fair housing advocacy, and real estate ethics — advance through industry association participation, published commentary, and community engagement.Succession planning and principal broker transition frameworks — develop to ensure continuity of client service quality and regulatory compliance across leadership changes.
Also known as
35 alternate job titles map to this occupation.
BrokerBroker AssociateBuyer BrokerBuyers AgentClosing AgentContract SpecialistDealerDesignated BrokerLease Administration AnalystLease AnalystLease CoordinatorLeasing ProfessionalLeasing SpecialistLicensed Real Estate BrokerLoan SpecialistManaging BrokerOccupancy SpecialistProperty BrokerReal Estate And Rental Industry SpecialistReal Estate AssociateReal Estate BrokerReal Estate Broker AssociateReal Estate CloserReal Estate Portfolio ManagerReal Estate Representative (Real Estate Rep)Real Estate Sales AssociateReal Estate SalespersonReal Estate SpecialistReal Estate Transaction CoordinatorRealtorRealty Loan SpecialistRealty SpecialistRental CoordinatorRental Industry SpecialistTerritory Sales Professional