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
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
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
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
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
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
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.
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:
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.
Los Angeles, California
New York City, New York
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?
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