Real Estate Brokers facilitate the buying, selling, or renting of properties on behalf of clients. Their job involves listing properties, networking to find potential buyers or sellers, showing properties, negotiating deals, and guiding clients through the transaction process. They need knowledge of real estate laws, market trends, property values, and excellent communication skills.
This income data is sourced from the May 2023 Occupational Employment and Wage Statistics (OEWS) survey. The dataset is updated annually.
Annual Pay Distribution | Salary |
|---|---|
10th percentile | $49,970.00 |
25th percentile | $58,240.00 |
median (50th percentile) | $58,240.00 |
75th percentile | $96,480.00 |
90th percentile | $165,310.00 |
Hourly Pay Distribution | Hourly Rate |
|---|---|
10th percentile | $24.03 |
25th percentile | $28.00 |
median (50th percentile) | $28.00 |
75th percentile | $46.38 |
90th percentile | $79.48 |
To become a Real Estate Broker in the United States, individuals typically must have a high school diploma or equivalent, though some positions may require a college degree. Educational requirements vary by state but generally involve completing pre-licensing courses, passing a state-administered exam, and fulfilling continuing education obligations. Some states may mandate a set number of college credits related to real estate as part of the licensing process. While a formal college education is not always mandatory, it can provide valuable knowledge and skills beneficial for success in this field. Training for Real Estate Brokers often includes completing state-approved real estate courses covering topics such as real estate law, finance, contracts, and property management. After meeting educational requirements, aspiring brokers must pass a state licensing exam. Following licensure, on-the-job training under the guidance of experienced brokers or through mentorship programs is common. Additionally, staying updated on market trends, laws, and regulations through continuing education courses is essential for maintaining licensure and enhancing professional expertise in the dynamic real estate industry.