Real Estate Brokers

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This occupation is part of the Sales and Related cluster

About the Job

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.

It is also Called

  • Associate Broker
  • Broker
  • Broker Associate
  • Buyer Broker
  • Closing Agent
  • Dealer
  • Licensed Real Estate Broker
  • Office Administrator
  • Office Manager
  • Real Eastate Sales Associate

What They Do

  • Sell, for a fee, real estate owned by others.
  • Obtain agreements from property owners to place properties for sale with real estate firms.
  • Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
  • Compare a property with similar properties that have recently sold to determine its competitive market price.
  • Act as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.
  • Generate lists of properties for sale, their locations, descriptions, and available financing options, using computers.
  • Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
  • Check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.
  • Arrange for financing of property purchases.
  • Appraise property values, assessing income potential when relevant.

Interests

People who work in this occupation generally have the interest code: EC.

This means people who work in this occupation generally have Enterprising interests, but also prefer Conventional environments.

Work Values

People who work in this occupation generally prize Independence, but also value Achievement and Relationships in their jobs.

Things They Need to Know

  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.

Things They Need to Be Able to Do

  • Speaking - Talking to others to convey information effectively.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
  • Persuasion - Persuading others to change their minds or behavior.

Education Required

Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.

Wages

In 2012, the average annual wage in California was $100,000.00 with most people making between $32,040.00 and n/a

Outlook

1.56%
avg. annual growth

During 2010, this occupation employed approximately 10,900 people in California. It is projected that there will be 12,600 employed in 2020.

This occupation will have about 170 openings due to growth and about 250 replacement openings for approximately 420 total annual openings.

Common College Majors

Industries that Employ this Occupation

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