Occupation Details
Real Estate Brokers
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.
Quick Navigation
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.
Work Values
Achievement
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
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.
Independence
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Salary & Job Outlook
Starting Salary
$50,370.00
New York StateMedian Salary
$80,180.00
New York StateExperienced Salary
$133,980.00
New York StateNational Average for Comparison
New York State Job Market Outlook
Jobs Right Now (2018)
5,030
professionals in NYFuture Job Growth (2030)
5,360
+33 jobs/yearNew Jobs Every Year
478
new opportunities yearlyGrowth Rate
0.1%
projected increasePreparation: Experience, Training, and Education
The list below outlines the prior educational experience required to perform in this occupation.
Degree Needed - Four-year college
Experience Requirements
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 Requirements
Most of these occupations require a four-year bachelor's degree, but some do not.
Training Details
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Transferrable Skills and Experience
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, conservation scientists, art directors, and cost estimators.
School Programs
The following lists school programs which are applicable to this occupation.
Licensing & Certification
New York State requires workers in this occupation to hold a license or certification.
Real Estate Broker
Learn MoreSkills
The list below includes the skills required by workers in this occupation; skills are what allow you to learn more quickly and improve your performance.
Speaking
Talking to others to convey information effectively.
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
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.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Active Learning
Understanding the implications of new information for both current and future problem-solving and decision-making.
Negotiation
Bringing others together and trying to reconcile differences.
Persuasion
Persuading others to change their minds or behavior.
Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Skill level is measured on a seven point scale, where one means 'some competence required for this occupation' and seven means 'a high level of expertise required for this occupation'.
Knowledge
The list below includes knowledge items, the principles and facts required by this occupation.
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.
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.
English Language
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
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
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.
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Administrative
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Knowledge level is measured on a seven point scale, where one means 'some competence required for this occupation' and seven means 'a high level of expertise required for this occupation'.
Work Environment
The list below includes the physical and social factors that influence the nature of work in this occupation.
Hover over or tap each factor to see its description.
Work Styles
Included in the list below are the personal work style characteristics that can affect how well a worker is likely to perform in this occupation.
Achievement/Effort
Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Attention to Detail
Job requires being careful about detail and thorough in completing work tasks.
Concern for Others
Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
Dependability
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
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.
Initiative
Job requires a willingness to take on responsibilities and challenges.
Integrity
Job requires being honest and ethical.
Persistence
Job requires persistence in the face of obstacles.
Self-Control
Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Stress Tolerance
Job requires accepting criticism and dealing calmly and effectively with high-stress situations.
Tools & Technology
This list below describes the machines, equipment, tools, software, and information technology that workers in this occupation will use.
Tools
- Computer laser printers
- Desktop computers
- Digital cameras
- Digital video cameras
- Handheld calculators
- Laptop computers
- Laser facsimile machines
- Measuring tapes
- Passenger vehicles
- Personal computers
- Personal digital assistants PDA
Technology
- AMTdirect
- Adobe Systems Adobe Photoshop
- AppFolio Property Manager
- Customer relationship management CRM software
- Enterprise Software Systems CRE Sync
- First American CoreLogic RealQuest Pro
- Google Earth Pro
- Intuit QuickBooks
- Microsoft Access
- Microsoft Active Server Pages ASP
- Microsoft Excel
- Microsoft Internet Explorer
- Microsoft Office
- Microsoft Outlook
- Microsoft PowerPoint
Duties
Duties are job behaviors describing activities that occur on multiple jobs. The generalized and detailed work activities described in the list below apply to this occupation.
- inspect property
- collect fees
- arrange teleconference calls
- schedule real estate closings
- arrange for financing
- arrange for title search
- direct and coordinate activities of workers or staff
- advise clients or customers
- develop property
- appraise value of real estate
- negotiate real estate sales or rental contracts
- compute financial data
- analyze financial data
- understand government real estate sales regulations
- sell real estate property to clients
- write business correspondence
- make presentations
- maintain records, reports, or files
- monitor contract performance
- use computers to enter, access or retrieve data
- follow contract, property, or insurance laws
- use knowledge of economic trends
- use interpersonal communication techniques
- follow tax laws or regulations
- use sales techniques
- use knowledge of written communication in sales work
- use knowledge of environmental laws and regulations
- use real estate terminology
- maintain relationships with clients
- access media advertising services
- obtain information from individuals
Tasks
The list below outlines specific tasks that a worker in this occupation is called upon to do regularly.
- 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.
- Manage or operate real estate offices, handling associated business details.
- Compare a property with similar properties that have recently sold to determine its competitive market price.
- 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.
- Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of a property's area.
- Arrange for financing of property purchases.
- 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.
Learning Resources
More information on this occupation may be found in the links provided below.
Real estate brokers and sales agents
Visit this link for additional information on this career from the Occupational Outlook Handbook; a publication produced and maintained by the United States Department of Labor.
Learn More