So you’ve been a real estate agent for a couple years and are looking to take the next step in your career? Hondros College can help you become a real estate broker.
But what exactly does it mean to be a real estate sales broker? Called by many names - broker, real estate broker, associate broker, broker associate, office administrator, office manager, real estate associate, etc. - most real estate brokers own and operate a real estate company and have real estate sales agents working for them. Real estate brokers may also work for a commercial real estate firm. Other duties may include overseeing real estate transactions, selling real estate or renting properties and arranging loans. Brokers continue to help people with their home and property sale or purchase - one of the most important financial decisions they ever will make.
Interested in becoming a real estate broker? Here are further details on a career in real estate as a real estate broker (thanks go out to the Bureau of Labor Statistics and O*NET Online for their thorough information):
- Employment Trends - Employment of real estate brokers is expected to enjoy average growth of 7-13% (from 2008-18). Moreover, a fair number of broker job openings - an estimated 31,000 - will arise over the same time period. [More on the real estate broker job outlook...]
- Earnings - The median annual wages of salaried real estate brokers were $55,740 in 2009, with average hourly wages around $27. [More on real estate broker wages...]
- Job Tasks - Real estate brokers tend to be responsible for selling, for a fee, real estate owned by others. Among other duties, real estate brokers will obtain agreements from property owners to place properties for sales with real estate firms and monitor the fulfillment of purchase contract terms to ensure timeliness. [More on real estate broker tasks...]
- Work Activities - Real estate brokers will participate in establishing and maintaining interpersonal relationships; information gathering; representing the organization; organizing, planning and prioritizing work; and making decisions and solving problems. [More on real estate broker work activities...]
- Education & Knowledge - Here’s where Hondros College comes in. From sales and marketing to customer and personal service, real estate brokers tend to have a solid educational foundation. This education leads to strong skills in speaking and negotiation, among others. [More on real estate broker knowledge...]
- Skills & Abilities - The education of real estate brokers (hopefully from Hondros College) leads to development of skills in active listening, critical thinking, judgment and decision making, persuasion, etc. Underlying abilities of successful real estate brokers include deductive reasoning, problem sensitivity and inductive reasoning. [More on real estate broker skills and abilities...]
- Work Values - For individuals seeking professional independence, achievement and relationships, a career as a real estate broker is the way to go. [More on real estate broker work values...]
- Additional Information - We encourage you to visit the Hondros College website and browse our real estate education and career information. Additional insight can be found on the Bureau of Labor Statistics’ website.
Has this insight piqued your interest? Do you have questions? Connect with Hondros College via phone, email, Facebook, Twitter, LinkedIn or by simply leaving a comment on this post. Trust me, we’re listening.
What say you?
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Tags: become a real estate broker, bureau of labor statistics, career, college, Hondros College, onet online, Real Estate, real estate broker
I think it’s a good job, to be a broker. A good friend of mine is doing it, elsewhere in the world, and is enjoying it. Sure, it can take quite a bit of time from you, but in the end, at least for him, it’s worth the effort.
Good luck for all the people who also will get into real estate brokering.
Great post! I get asked about this stuff all the time!
Glad you enjoyed the post. I wanted it to be as informative as possible to provide a glimpse into a career as a real estate broker. I’m sure you bookmarked it as reference material, right?
Thanks for the comment!
Great Post. I’ve actually had my RE license for quite a while now. Al thought I don’t practice real estate as an agent full time, I figured it would be great to have to save commission when purchasing a home for myself. Curious, is there any additional benefit in this regard if I picked up my broker’s license? Could I get a full 3% commission/savings?
Just out of curious, Whats the average income of a broker these days with how the economy the way it is?
Real estate brokers typically bring in around $78,000 annually. Please don’t hesitate to let me know if you have any further questions…
Real estate can still be a very good business even in this down economy. It comes down to how well you know your market or area. A good understanding of a market like Arizona MLS Search. Research your market and you will become an expert about your real estate market.
Thanks for the comment, Trent. That’s a great tip for real estate professionals.
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There is perceptibly a bunch to identify about this. I suppose you made some nice points in features also.
What do you mean, Madeleine? What more would you include?
There will always be a need for real estate agents but with the market down it is a lot harder to make any money at it.
It’s definitely a buyer’s market. However, in the tough economic times, demand is lower than usual. One thing that we all know is that this industry is a cyclical beast. When things turn around, we’ll be once again enjoying the “good ol’ days.” And it’s never too early to prepare yourself for the turnaround.
Do you have any advice to offer real estate agents and brokers in a tough market climate?
Continuing education is the only was to stay on top of the continual changes in the real estate industry. The whole real estate business faced a “game changer” in the recent disruption in the market. It would behoove all involved in real estate or any related field to further their knowledge.
With the market collapse all around the world and especially in the real estate market this is now hard for the people to see their careers in the real estate industry as a broker or agent… but i think there are always the Good time and the bad time but over all the industry have much potential and still contain some great career growth in it!!
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what a great overview of the roll of broker, I have been licensed for some time now and would not trade it for anything in the world.
It is not for everyone though.
Excellent post, and very informative. As far as the comments about the down market, I’m not sure what your area is like, but I’ve been a real estate broker for 20+ years now, and in our area, the market peaked, and has returned to a normal real estate market. 5-6 yrs ago, real estate was so hot, being treated like the stock market, buying, selling, flipping. It still happens, but not as quickly. But if you’re hard working, and smart, you can still be very successful in real estate. My company doubled our sales volume in 2010 over 2009, ad once again, we have doubled our sales volume this year over last. You just have to put the effort in.
The last few years has thinned out a number of “wanna-be” agents/brokers and has left some of the best agents competing for listings and preparing for the next upswing.
Definitely agree with the thinning out process referenced above…, What’s left are those real estate agents that are serious about making it a career and will most likely prevail in the long run.
Thank you for the informative info. I am enlighten the post, being a state an agent you have to be more knowledgeable in all time.
A quote–not sure as to its origin–has stuck with me for several years: “You’ll have what others don’t if you’ll do what others won’t.” This is especially true in the highly competitive real estate industry. Things like making cold-calls, networking, etc. are just a few examples.
As a Broker or Agent, people need to understand that they will need to work harder over people with regular jobs to make money