Real Estate Broker Career Profile

A Real Estate Broker helps people buy a home. They help locate the houses that are up for sale and also assist in the federal, state and local procedures when purchasing the property. There are real estate brokers that offer expertise in many different areas, such as real estate properties for businesses, new homes, re-sale homes or land for development and construction areas. Basically, there are brokers who specialize for each variety of property.

Daily Tasks

Agents need to find prospective clients to purchase real estate property. They must schedule an appointment with them, determine their requirements, get to know them and decipher the type of investment they want. An agent's daily routine usually involves:

  • Identifying and locating the properties that should meet the desires of the clients.
  • Arrange for inspection of the properties by the clients after prior communication with both parties.
  • Negotiate with the personnel of the real estate business to agree upon a price agreeable by both the clients and real estate organization.
  • Use marketing and technological knowledge in finalizing the business in favor of the clients.
  • Assist the clients in preparing or arranging for the copies of the legal documents required for the contract and purchase of the property.
  • Visit prospective sites or properties coordinate a study or plan of the real estate market situation.
  • Discuss with other real estate agents to know more about the facilities about a property and the services provided by the real estate company to the buyers.

Nature of Work

They have to work at least 40 hours per week. However, this type of work generally demands extra hours due to client requests. It is very common for a real estate broker to work on the weekend. This industry requires a high level of integrity, diligence and fairness.

Real Estate Broker License

The examination for the broker's license is arduous and is based on the extensive focus on laws and transactions in the real estate industry. In order to obtain a license, you must accumulate enough knowledge about the legal bindings, laws and procedures involved in the real estate industry.

There are required courses and training programs for a license. Many agents opt for acquiring an associate's or bachelor's degree in the real estate field as well as the licensing because many of the same courses are required. During their education, some of their courses will be in real estate laws and development, real estate finance and investment, and analysis of markets with perhaps a little bit of training in economics mixed in. Some programs also offer an option to choose an elective in areas like urban development, eco-friendly buildings and community development.

Job Prospects

Most real estate brokers work independently. More than half of all brokers use this type of work as a part-time position that helps them fulfill money or career advancement. In general, growth is predicted for this employment until 2016, however, due to our distressed housing market, this field is shrinking quickly. The Bureau of Labor Statistics has calculated the mean annual salary of the real estate broker to be $79,800, for those who work full-time.