Information About Real Estate Brokers

What is this career like?

The late Lord Harold Samuel, a real estate tycoon in Great Britain, once coined the expression: "There are three things that matter in property: location, location, location."

Being a real estate agent is great if you have a strong interest in law, marketing, meeting people and putting out fires. I love the fact that I have the freedom to manipulate my schedule during the week as I see fit, however most weekends are spoken for. Qualified buyers usually have 9-5 jobs so they are only available in the evenings and weekends. I either have an open house or, if my marketing is working, I am showing homes all weekend. Being a real estate broker is always interesting, at least to me.

I like investigating property and looking at all the different investment scenarios. I have become a very good photographer and web builder in order to keep up with the technology changes in my field. We are even considering developing an app.!

I would recommend being a real estate broker but get ready for a roller coaster ride. Like it or not deals and your heart will come crashing down, luckily you will get a deal thrown in your lap on occasion too, but generally it takes tenacity, persistence and you can quote me as saying, "There are three things that matter as a real estate agent; marketing, marketing, marketing!"

Training

Real estate brokers need work experience in a related occupation.

Degrees for Real estate brokers
Training for Real Estate Brokers
Percent
Less than High School 1.5
High School 15.4
Some College 28.4
Associates Degree 9.6
Bachelors Degree 34.6
Masters Degree 8.5
Doctorate or Professional Degree 2.0

Employment

Represents about 123,000 people in the United States- 58.3% of which are self-employed

Employment prospects are up Over the next 5 years there will be aproximately 10,000 more real estate brokers but, because of expected growth and replacement needs in the United States, we will need 30,000 more.


Hourly Income

On average, real estate brokers make $40.31 per hour.

Hourly Income Distribution in U.S. Dollars ($)
Bottom 10% Bottom 25% Median Top 75% Top 90%
Real estate brokers $12.50 $17.30 $28.50 $49.50 $high
Sales and related occupations $8.17 $9.04 $11.90 $20.60 $35.10
National Average $8.65 $10.70 $16.50 $26.60 $41.00

Annual Salaries

On average, real estate brokers make $83,830 per year.

Annual Salary Distribution in U.S. Dollars ($)
Bottom 10% Bottom 25% Median Top 75% Top 90%
Real estate brokers $26,170 $36,170 $59,340 $103,020 $high
Sales and related occupations $16,990 $18,800 $24,840 $42,990 $73,070
National Average $18,000 $22,380 $34,460 $55,470 $85,280

This data is from the U.S. Bureau of Labor Statistics, Occupational Employment Statistics

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