Real Estate Brokers

General Information

Description

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.

Business Breakdown

People in this career work in these sectors.

  1. Self-employed54.48%
  2. Private, for profit43.86%
  3. State and local government0.58%
  4. Private, not for profit0.57%
  5. Federal government0.15%

Workplace at a Glance

What you can expect to experience while on the job

  • Responsibility
  • Exposure to job hazards
  • Physical activity
  • Decision making
  • Repetitiveness
  • Level of competition
  • Time pressure

Industry areas

  • Real Estate
  • Management of Companies and Enterprises
  • Credit Intermediation and Related Activities (5221 And 5223 only)

Job Outlook

Employment of real estate brokers and sales agents is projected to grow 6 percent from 2016 to 2026, about as fast as the average for all occupations. There will be a continued demand for real estate brokers and sales agents, since people turn to them when looking for a larger home, relocating for a new job, and for other reasons. Employment is projected to grow along with the real estate market. The millennial generation will be entering the prime working-age and household-forming age cohort over the next decade. This generation has delayed home ownership because of financial and personal considerations. Therefore, their entry into the housing market should increase demand for real estate agents and brokers. An improving job market and rising consumer spending also will drive demand for brokers and agents to handle commercial, retail, and industrial real estate transactions. However, tighter credit regulations and increasing real estate prices may cause some people to continue renting as opposed to entering the housing market. The real estate market is highly sensitive to fluctuations in the economy, and employment of real estate brokers and agents will vary accordingly. In periods of economic growth or stability, employment should grow to accommodate people looking to buy homes and businesses looking to expand office or retail space. Alternatively, during periods of declining economic activity or rising interest rates, the amount of work for brokers and agents will slow and employment may decline.

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Salary

Average Salary

Salary

$62,210

State-by-state Salary

Gray states indicate no data available

$95,080
$25,360
No Information for this section

Education

Most Common Education Levels

People in this career achieve this level of education.

  • Bachelor's degree 36%
  • Some college 23%
  • High school 12%
  • Post baccalaureate 8%
  • First professional degree 8%
  • Associate's degree 5%
  • Less than high school 3%
  • Master's degree 0%
  • Doctoral degree 0%
  • Post-doctoral training 0%
  • Post-master's certificate 0%
  • Post-secondary certificate 0%

Related College Majors

Select major to see colleges that offer it

Knowledge

  • Customer and Personal Service
  • Sales and Marketing
  • Clerical
  • Administration and Management
  • English Language

Skills at a Glance

Skills helpful in this career

  • Verbal skills
  • Critical thinking & problem solving
  • Equipment operation & maintenance
  • Math & science skills
  • Technology design & control
  • Leadership
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