Real Estate Broker Salary

The average pay for a Real Estate Broker is $56,045 per year. The highest paying skills associated with this job are Operations Management and Sales.

$24,461 - $120,040
$24K
$52K
$120K
MEDIAN: $51,687
10%
50%
90%

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$11.84 - $45.62
$12
$19
$46
MEDIAN: $19.00
10%
50%
90%

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$0$198K
Salary $24,461 - $120,040
Bonus $705 - $44,698
Profit Sharing $1,454 - $36,065
Commission $3,425 - $198,659
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).
)
$28,186 - $147,267
  • Country: United States
  • Currency: USD
  • Updated: 21 May 2018
  • Individuals Reporting: 515
Hourly Data $0$122
Hourly Rate $11.84 - $45.62
Overtime $25.00
Annual Data $0$198K
Bonus $705 - $44,698
Commission $3,425 - $198,659
Profit Sharing $1,454 - $36,065
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).
)
$28,186 - $147,267
  • Country: United States
  • Currency: USD
  • Updated: 21 May 2018
  • Individuals Reporting: 27

Job Description for Real Estate Broker

Real estate brokers are people who help others to sell or purchase property. Most of the time the property being sold or purchased is a house or empty land. The broker must understand the market value of each property under consideration. They should be able to assess the positive and negative aspects of each property and know how to advertise and negotiate a sale. They often work with financial institutions and help people obtain the loans that are needed to buy a property. They normally work on commission and earn a small percentage from each sale they complete.

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Real Estate Broker Tasks

  • Work with sellers and documentation to create accurate listings.
  • Connect sellers and buyers, conduct market research and reach price agreements to close sales.
  • Identify and meet buyers, building long-term relationships.
  • Visit properties and assess potential, current value and to set prices.

Common Career Paths for Real Estate Broker


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Real Estate Broker Job Listings

Popular Skills for Real Estate Broker

Pay by Experience Level for Real Estate Broker

Pay by Experience for a Real Estate Broker has a positive trend. An entry-level Real Estate Broker with less than 5 years of experience can expect to earn an average total compensation of $54,000 based on 107 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A 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 $67,000 based on 59 salaries. An experienced Real Estate Broker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $64,000 based on 109 salaries. A 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 $73,000 based on 73 salaries.

Pay Difference by Location

National Average: $59,426

Larger city markers indicate a job is popular in that location.

Related Job Salaries

Key Stats for Real Estate Broker

Gender

Female
56 %
Male
44 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 60 votes.
Less than 1 year
5%
1-4 years
25%
5-9 years
14%
10-19 years
30%
20 years or more
26%

Experience Affects Real Estate Broker Salaries

▲24%

Mid-Career
▲13%

▲7%

National Average
$59,000

▼9%

Skills That Affect Real Estate Broker Salaries

Operations Management
▲19%

▲16%

▲9%

National Average
$59,000

Property Management
▼3%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 60 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
5%
1-4 years
25%
5-9 years
14%
10-19 years
30%
20 years or more
26%

Common Health Benefits

medical benefits
Medical: 42%
dental benefits
Dental: 28%
vision benefits
Vision: 22%
no benefits
None: 57%