Commercial Real Estate Broker Salary
A Commercial Real Estate Broker earns an average salary of $64,501 per year. Pay for this job rises steadily for more experienced workers, but goes down noticeably for the few employees with more than 20 years' experience.
|Salary||$34,857 - $192,703|
|Bonus||$1,468 - $40,851|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$34,888 - $197,737|
Job Description for Commercial Real Estate Broker
Commercial real estate brokers usually serve as leasing and sales agents for business properties, and an associate's or bachelor's degree and state-required real estate licensing are generally required for this position.Read More...
Commercial real estate brokers should be confident and have strong communication skills to work well with clients. Because income is largely driven by commission, they should be self-motivated and able to pursue, obtain, and maintain clients. Organizational skills are also important in this position to keep track of clients, leads, and sales with a database system.
Commercial real estate brokers spend time both in and out of the office and often work outside of traditional business hours. While in the office, they must maintain their client and property information and keep all databases up-to-date, and they also use this time to chase down leads and market their services to interested parties. Successful commercial real estate brokers are also adept at marketing themselves through various media, including phone, e-mail, social media, and business canvassing.
When out of the office, these brokers visit properties in their listings, take photographs, and become familiar with the characteristics of each location to offer the best-possible information to their clients. They also meet with clients regularly for interviews, showings, and final paperwork. Commercial real estate brokers must be professional in dress and manner and able to serve as a middleman to ensure satisfaction for both their client and the opposite party, and they must also function well as team players who work together to ensure the success of the brokerage itself. (Copyright 2017 PayScale.com)
Commercial Real Estate Broker Tasks
- Obtain and market new properties.
- Draw up and file leases and sales.
- Meet with clients and prospective clients, provide property tours.
- Negotiate lease and sales terms for properties.
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Pay by Experience Level for Commercial Real Estate Broker
Pay by Experience for a Commercial Real Estate Broker has a positive trend. An entry-level Commercial Real Estate Broker with less than 5 years of experience can expect to earn an average total compensation of $63,000 based on 18 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Commercial Real Estate Broker with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $105,000 based on 9 salaries. An experienced Commercial Real Estate Broker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $150,000 based on 10 salaries. A Commercial Real Estate Broker with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $120,000 based on 7 salaries.
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