Real Estate Brokers
Overview
Salary
Demand
Core Tasks
Technology Skills
Tools Used
Top 10 Knowledge Required
Top 10 Skills
Top 10 Abilities
Top 10 Work Activities
Detailed Work Activities
Work Context
Education
Majors
Interests
Top 10 Work Styles
Work Values
Related Careers
Overview
Job Zone Four: Considerable Preparation Needed
Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
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.
Salary Salary
Salary at 10th Percentile: $25K
Salary at 25th Percentile: $38K
Median Salary: $60K
Salary at 75th Percentile: $97K
Salary at 90th Percentile: $174K
Demand
Core Tasks
Sell, for a fee, real estate owned by others.
Obtain agreements from property owners to place properties for sale with real estate firms.
Act as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.
Supervise agents who handle real estate transactions.
Generate lists of properties for sale, their locations, descriptions, and available financing options, using computers.
Compare a property with similar properties that have recently sold to determine its competitive market price.
Manage or operate real estate offices, handling associated business details.
Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
Check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.
Rent properties or manage rental properties.
Arrange for financing of property purchases.
Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of a property's area.
Arrange for title searches of properties being sold.
Develop, sell, or lease property used for industry or manufacturing.
Give buyers virtual tours of properties in which they are interested, using computers.
Appraise property values, assessing income potential when relevant.
Review property details to ensure that environmental regulations are met.
Maintain working knowledge of various factors that determine a farm's capacity to produce, such as agricultural variables and proximity to market centers and transportation facilities.
Technology Skills
Technology
Example
Hot Technology
Tools Used
Tool
Example
Top 10 Knowledge Required
Sales and Marketing
90%
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
86%
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
83%
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Law and Government
80%
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Administration and Management
79%
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.
Economics and Accounting
71%
Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Computers and Electronics
68%
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Mathematics
67%
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Communications and Media
65%
Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
Building and Construction
64%
Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
Top 10 Skills
Speaking
80%
Talking to others to convey information effectively.
Active Listening
78%
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
78%
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Reading Comprehension
78%
Understanding written sentences and paragraphs in work related documents.
Active Learning
73%
Understanding the implications of new information for both current and future problem-solving and decision-making.
Negotiation
73%
Bringing others together and trying to reconcile differences.
Persuasion
70%
Persuading others to change their minds or behavior.
Judgment and Decision Making
68%
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Social Perceptiveness
68%
Being aware of others' reactions and understanding why they react as they do.
Writing
68%
Communicating effectively in writing as appropriate for the needs of the audience.
Top 10 Abilities
Oral Comprehension
80%
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression
80%
The ability to communicate information and ideas in speaking so others will understand.
Written Comprehension
80%
The ability to read and understand information and ideas presented in writing.
Deductive Reasoning
73%
The ability to apply general rules to specific problems to produce answers that make sense.
Near Vision
73%
The ability to see details at close range (within a few feet of the observer).
Speech Clarity
73%
The ability to speak clearly so others can understand you.
Speech Recognition
73%
The ability to identify and understand the speech of another person.
Written Expression
70%
The ability to communicate information and ideas in writing so others will understand.
Problem Sensitivity
68%
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.
Inductive Reasoning
65%
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Top 10 Work Activities
Getting Information
88%
Observing, receiving, and otherwise obtaining information from all relevant sources.
Establishing and Maintaining Interpersonal Relationships
87%
Developing constructive and cooperative working relationships with others, and maintaining them over time.
Updating and Using Relevant Knowledge
86%
Keeping up-to-date technically and applying new knowledge to your job.
Interacting With Computers
78%
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Organizing, Planning, and Prioritizing Work
77%
Developing specific goals and plans to prioritize, organize, and accomplish your work.
Communicating with Persons Outside Organization
76%
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.
Performing Administrative Activities
76%
Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
Selling or Influencing Others
76%
Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
Analyzing Data or Information
75%
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Documenting/Recording Information
75%
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
Detailed Work Activities
Contract real estate to clients.
Prepare sales or other contracts.
Review accuracy of sales or other transactions.
Appraise property values.
Negotiate prices or other sales terms.
Obtain property information.
Review laws or regulations to maintain professional knowledge.
Help clients get needed services or resources.
Monitor market conditions or trends.
Oversee business processes.
Supervise sales or support personnel.
Create images or other visual displays.
Enter information into databases or software programs.
Assess compliance with environmental laws.
Work Context
Electronic Mail
How often do you use electronic mail in this job?
Telephone
How often do you have telephone conversations in this job?
Structured versus Unstructured Work
To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals?
Freedom to Make Decisions
How much decision making freedom, without supervision, does the job offer?
Indoors, Environmentally Controlled
How often does this job require working indoors in environmentally controlled conditions?
Contact With Others
How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?
Face-to-Face Discussions
How often do you have to have face-to-face discussions with individuals or teams in this job?
Level of Competition
To what extent does this job require the worker to compete or to be aware of competitive pressures?
In an Enclosed Vehicle or Equipment
How often does this job require working in a closed vehicle or equipment (e.g., car)?
Frequency of Decision Making
How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?
Education
Interests
Enterprising
100%
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
81%
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
48%
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 outside, and do not involve a lot of paperwork or working closely with others.
Social
48%
Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
Artistic
19%
Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
Investigative
15%
Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Top 10 Work Styles
Integrity
95%
Job requires being honest and ethical.
Initiative
92%
Job requires a willingness to take on responsibilities and challenges.
Stress Tolerance
92%
Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Persistence
91%
Job requires persistence in the face of obstacles.
Attention to Detail
90%
Job requires being careful about detail and thorough in completing work tasks.
Achievement/Effort
89%
Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Independence
89%
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.
Self Control
89%
Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Dependability
88%
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Concern for Others
87%
Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
Work Values
Independence
72%
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Achievement
67%
Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Relationships
67%
Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Recognition
62%
Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Working Conditions
62%
Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Support
48%
Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
