CareerGPS

Real Estate Brokers
Summary Occupational Forecast Data for Real Estate Brokers
Employment Employment Change Average Annual Job Openings Wage & Training Levels
2018 2023 Numerical Percent New Jobs Replacement Jobs Total Median Hourly Median Annual Training Levels
7,911 8,407 496 6.26% 99 742 841 $27.79 $57,806 High school diploma or equivalent
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.
Staffing Pattern Data Forecast Data Source: EMSI (2nd Quarter 2018)

Occupation Details

The information in this section represents occupational characteristics included in O*NET which defines key features of an occupation as a standardized, measurable set of variables called "descriptors". These distinguishing characteristics of an occupation are described in greater detail in the O*NET Content Model. All items are listed in descending order of importance.

  • 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.
  • Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of the area where a property is located.

Knowledge

81%
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.
80%
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.
66%
English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
63%
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.
61%
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.
59%
Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
59%
Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
53%
Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
52%
Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
52%
Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
50%
Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.

Skills

81%
Speaking - Talking to others to convey information effectively.
72%
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.
69%
Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
69%
Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
62%
Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
62%
Persuasion - Persuading others to change their minds or behavior.
62%
Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
60%
Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
60%
Coordination - Adjusting actions in relation to others' actions.
60%
Negotiation - Bringing others together and trying to reconcile differences.
60%
Service Orientation - Actively looking for ways to help people.
60%
Writing - Communicating effectively in writing as appropriate for the needs of the audience.
60%
Time Management - Managing one's own time and the time of others.
53%
Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.

Abilities

81%
Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
78%
Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
72%
Written Comprehension - The ability to read and understand information and ideas presented in writing.
66%
Speech Recognition - The ability to identify and understand the speech of another person.
66%
Near Vision - The ability to see details at close range (within a few feet of the observer).
62%
Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
62%
Speech Clarity - The ability to speak clearly so others can understand you.
60%
Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
56%
Written Expression - The ability to communicate information and ideas in writing so others will understand.
53%
Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
53%
Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).

Work Activities

87%
Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
79%
Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
77%
Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
77%
Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
72%
Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
72%
Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
69%
Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
69%
Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
69%
Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
67%
Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
66%
Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
64%
Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.
62%
Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
62%
Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.
61%
Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.
60%
Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
60%
Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
60%
Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
60%
Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
59%
Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
57%
Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
54%
Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.
53%
Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.
Title Job Zone Three: Medium Preparation Needed
Overall Experience Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.
Job Training Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.
Job Zone Examples These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include food service managers, electricians, agricultural technicians, legal secretaries, interviewers, and insurance sales agents.
Education Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.

Interests

Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Realistic - Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outsi
Social - Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Work Styles

Integrity - Job requires being honest and ethical.
Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Initiative - Job requires a willingness to take on responsibilities and challenges.
Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Persistence - Job requires persistence in the face of obstacles.
Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Innovation - Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.

Work Values

Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.