Real Estate Broker How to Hire, Salary Data, and Job Descriptions

A real estate broker is a licensed real estate agent who has passed the broker licensing exam; becoming legally eligible to hire and supervise other agents. Real estate brokers have to be okay working in a fast-paced environment that can be stressful and overwhelming. As the market increases, many brokers are becoming even busier than normal. 

Brokers need to keep up their licensing with the National Association of Realtors, and they’re obligated to operate under a strong code of ethics that if broken can result in termination of their license. Though brokers are similar to agents, they have often received additional training and hire agents to work beneath them. They are usually the top agents in a firm, and they handle writing contracts, showing important and expensive properties, and handling all closings. If you’re an experienced agent looking to level up, becoming a broker may be right for you.

Sample job description #1

Job purpose/objective

  • Generate brokerage revenue by obtaining new clients and supporting existing clients
  • Under direct supervision, performs work in support of goals

Essential functions and primary duties

  • Identify and help to develop strategic relationships with new and existing clients
  • Work to identify business opportunities by prospecting and conducting research
  • Identify service/product improvements by monitoring industry trends and engaging in discussions with clients
  • Follow latest industry developments, research market trends, and stay up-to-date on competitors
  • Provide key market intelligence based on interactions with clients, prospects, and other market players
  • Populate and update relevant data in the designated customer relationship management system
  • Negotiates leases
  • Conducts space tours
  • Assist with the preparation of market surveys
  • Assist with the preparation of financial and non-financial analysis
  • Contribute to the development of marketing strategy and plans
  • Assist with lease reviews
  • Additional responsibilities as assigned

Qualifications required

  • High School Diploma or GED required; Bachelor’s degree preferred
  • 3 years of sales and customer service experience in the real estate brokerage industry
  • Must maintain current required licenses and certifications relevant to field of expertise
  • Demonstrate the ability to communicate verbally and in writing throughout all levels of organization, both internally and externally
  • Proficient use of applicable technology
  • Ability to work in team environment as well as independently
  • Ability to analyze and prioritize multiple responsibilities
  • Proven track record of meeting sales targets
  • Results driven and customer focused
  • Must be able to ravel based on client and business need

Sample job description #2

A Real Estate Broker responsibilities include marketing listings and providing guidance to buyers and sellers. This is a great opportunity for someone looking to grow their career in real estate

Responsibilities

  • A Real Estate Broker responsibilities include marketing listings and providing guidance to buyers and sellers
  • Provide guidance and assist sellers and buyers in marketing and purchasing property for the right price under the best terms
  • Determine client’s needs and financial abilities to propose solutions that suit them
  • Intermediate negotiation processes, consult clients on market conditions, prices, mortgages, legal requirements, and related matters, ensuring a fair and honest dealing
  • Perform comparative market analysis to estimate a property’s value
  • Display and market real property to possible buyers

Qualifications

  • Outstanding people skills with a demonstrable aptitude in negotiation
  • Proven track record of sales
  • Trustworthy and results-driven
  • Basic computer skills
  • Ability to work autonomously and sell effectively
  • Reliable transportation and valid driver’s license
  • Brokerage license a plus
  • Real Estate Experience a plus

Sample job description #3

Position overview:

We are looking for highly motivated individuals who have a minimum of two (2) years of sales experience and who are interested in earning an extremely high level of income. The brokerage position available will allow individuals to work with senior top producing brokers in a team environment. We are looking for ethical and driven individuals willing to work diligently to pursue new opportunities in the challenging and competitive arena of commercial real estate. Our commission splits are significantly better than the industry standard.

Key responsibilities:

  • Assist in the preparation of financial analysis for client assignments
  • Participate in presentations and preparation of proposals for existing potential clients
  • Provides ad hoc analytical support to all business clients, as required
  • Maintains positive relationships with team and clients to ensure high level of satisfaction
  • Serve as point person for corporate, and non corporate, clients regarding the sale and/or lease of client assets
  • Showing properties, preparing proposals, and negotiating transactions

Desired skills and experience:

  • Bachelor’s degree
  • Minimum of 2 years experience working in a real estate or non real estate field
  • Encourages and supports leadership and growth in others
  • Displays service excellence in dealing with internal and external clients and partners
  • Ability to work independently
  • Superior skills in financial modeling
  • Proven ability to deliver results
  • Ability to initiate new business via utilizing various “cold calling” strategies
  • Excellent interpersonal skills, high level of competitive drive to excel

Average salary and compensation

The average salary for a real estate broker is $60,300 per year in the United States, with unlimited commission potential. Total compensation will vary based on geography, property values, mortgage rates, and housing market conditions.

LocationSalary LowSalary High
Phoenix, Arizona$59,950$81,150
Los Angeles, California$67,650$91,550
Denver, Colorado$56,400$76,250
Washington, DC$68,700$92,900
Miami, Florida$56,100$75,950
Orlando, Florida$51,750$70,050
Tampa, Florida$52,300$70,750
Atlanta, Georgia$54,850$74,200
Chicago, Illinois$63,050$85,300
Boston, Massachusetts$68,150$92,250
Minneapolis-St.Paul, Minnesota$54,330$73,500
New York City, New York$71,750$97,100
Philadelphia, Pennsylvania$48,450$79,050
Dallas, Texas$56,900$76,950
Houston, Texas$56,650$76,600
Seattle, Washington$65,600$88,750
National Average$51,250$69,350

Sample interview questions

  • What do you enjoy about being in real estate?
  • What skills do you think are important in this industry?
  • How would you describe yourself?
  • How many years of experience do you have in a brokerage firm?
  • Have you hired real estate agents underneath you?
  • What do you find is most important when managing other real estate agents?
  • Why should we hire you?
  • What skills would you say you master?
  • Do you utilize social media to sell homes?
  • Are you experienced in listing properties on MLS and other platforms?
  • How many homes would you say you sell a year?

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