Real Estate Brokers and Sales Agents
Career, Salary and Education Information
What They Do: Real estate brokers and sales agents help clients buy, sell, and rent properties.
Work Environment: Most real estate brokers and sales agents are self-employed. Although they often work irregular hours, many are able to set their own schedules.
How to Become One: Every state requires real estate brokers and agents to be licensed. Requirements vary by state but generally require candidates to be at least 18 years old, complete a number of hours of real estate or college courses, and pass a licensing exam.
Salary: The median annual wage for real estate brokers is $62,010. The median annual wage for real estate sales agents is $48,340.
Job Outlook: Employment of real estate brokers and sales agents is projected to grow 5 percent over the next ten years, about as fast as the average for all occupations.
Related Careers: Compare the job duties, education, job growth, and pay of real estate brokers and sales agents with similar occupations.
Following is everything you need to know about a career as a real estate broker or sales agent with lots of details. As a first step, take a look at some of the following jobs, which are real jobs with real employers. You will be able to see the very real job career requirements for employers who are actively hiring. The link will open in a new tab so that you can come back to this page to continue reading about the career:
Top 3 Real Estate Broker Jobs
-
Licensed Real Estate Agent - High Quality Leads, Training, Support
- American Dream Team Real Estate Brokers
- Plainfield, IN
The American Dream Team is a customer-centric real estate brokerage . From the technology we build to our training academy, everyone at American Dream Team is empowered to make meaningful decisions ...
-
Real Estate and Construction Manager
- Hydration Room, Inc.
- Irvine, CA
This high-impact role is responsible for identifying and securing prime locations to grow our clinic footprint, partnering closely with our CEO and external real estate brokerage to lead site ...
-
Real Estate Agent
- Century 21 Prosperity
- Denver, CO
Are you a motivated real estate agent looking for new opportunities to excel in your career? Look ... Flexibility : Enjoy the freedom to manage your own schedule while leveraging our brokerage ...
Top 3 Real Estate Agent Jobs
-
Licensed Real Estate Agent - High Quality Leads, Training, Support
- American Dream Team Real Estate Brokers
- Plainfield, IN
Real Estate Agent - High Quality Leads, Training and Expert Coaching Provided! Are you a Real Estate Agent in Indiana, looking for High Quality Leads so you can close more deals and make more money
-
Licensed Real Estate Agent Partner
- Tru Living Group
- Novi, MI
We are leading the way in real estate and are looking for a driven and experienced Real Estate Agent to join our growing team. As an agent partner you will assist our clients that are relocating to ...
-
Real Estate Agent
- Century 21 Prosperity
- Denver, CO
Are you a motivated real estate agent looking for new opportunities to excel in your career? Look No Further! Why Work With Us? * Cutting-Edge Tools : Access industry-leading platforms like Ylopo and ...
What Real Estate Brokers and Sales Agents Do[About this section] [To Top]
Real estate brokers and sales agents help clients buy, sell, and rent properties. Although brokers and agents do similar work, brokers are licensed to manage their own real estate businesses. Sales agents must work with a real estate broker.
Duties of Real Estate Brokers and Sales Agents
Real estate brokers and sales agents typically do the following:
- Solicit potential clients to buy, sell, and rent properties
- Advise clients on prices, mortgages, market conditions, and related information
- Compare properties to determine a competitive market price
- Generate lists of properties for sale, including details such as location and features
- Promote properties through advertisements, open houses, and listing services
- Take prospective buyers or renters to see properties
- Present purchase offers to sellers for consideration
- Mediate negotiations between buyer and seller
- Ensure that all terms of purchase contracts are met
- Prepare documents, such as loyalty contracts, purchase agreements, and deeds
Because of the complexity of buying or selling a residential or commercial property, people often seek help from real estate brokers and sales agents.
Most real estate brokers and sales agents sell residential property. Others sell commercial property, and a small number sell industrial, agricultural, or other types of real estate.
Brokers and agents can represent either the buyer or the seller in a transaction. Buyers' brokers and agents meet with clients to understand what they are looking for in a property and how much they can afford. Sellers' brokers and agents meet with clients to help them decide how much to ask for and to convince them that the agent or broker can find them a qualified buyer.
Real estate brokers and sales agents must be knowledgeable about the real estate market in their area. To match properties to clients' needs, they should be familiar with local communities, including knowing the crime information and the proximity to schools and shopping. Brokers and agents also must stay current on financing options; government programs; types of available mortgages; and real estate, zoning, and fair housing laws.
The following are examples of types of real estate brokers and sales agents:
Real estate brokers are licensed to manage their own businesses. As independent businesspeople, brokers often sell real estate owned by others. In addition to helping clients buy and sell properties, they may help rent or manage properties for a fee. Many operate a real estate office, handling business details and overseeing the work of sales agents.
Real estate sales agents must work with a broker. Sales agents often work for brokers on a contract basis, earning a portion of the commission from each property they sell.
Work Environment for Real Estate Brokers and Sales Agents[About this section] [To Top]
Real estate brokers hold about 123,100 jobs. The largest employers of real estate brokers are as follows:
| Self-employed workers | 59% |
| Real estate and rental and leasing | 38% |
Real estate sales agents hold about 438,900 jobs. The largest employers of real estate sales agents are as follows:
| Self-employed workers | 58% |
| Real estate and rental and leasing | 34% |
| Construction | 3% |
Workplace size for real estate brokers and sales agents can range from a one-person business to a large firm with numerous branch offices. Many brokers have franchise agreements with national or regional real estate companies. Under this arrangement, the broker pays a fee to be affiliated with a widely known real estate organization.
Some real estate brokers and sales agents work in a typical office environment, while others work out of their homes. In both cases, real estate workers spend much of their time away from their desks, showing properties to customers, traveling to see properties for sale, and meeting with prospective clients.
Real Estate Broker and Sales Agent Work Schedules
Many real estate brokers and sales agents work more than 40 hours per week. They often work evenings and weekends to accommodate clients' schedules. Many brokers and sales agents spend a significant amount of time networking and attending community events to meet potential clients. Although they frequently work irregular hours, many can set their own schedules.
Some brokers and sales agents work part time and may combine their real estate activities with other careers.
How to Become a Real Estate Broker and Sales Agent[About this section] [To Top]
Get the education you need: Find schools for Real Estate Brokers and Sales Agents near you!
Real estate brokers and sales agents typically must complete a number of real estate courses and pass a licensing exam.
Education for Real Estate Brokers and Sales Agents
Real estate brokers and sales agents must complete some real estate courses to be eligible for licensure. Although most brokers and agents must take state-accredited prelicensing courses to become licensed, some states may waive this requirement if the candidate has taken college courses in real estate.
As the real estate market becomes more competitive and complex, some employers are preferring to hire candidates with a college degree. Some community colleges, colleges, and universities offer courses in real estate. Some offer associate's and bachelor's degree programs in real estate, and many others offer certificate programs. Courses in finance, business administration, economics, and law also can be useful.
Brokers intending to open their own company often take business courses, such as marketing and accounting.
In addition to offering prelicensing courses, many real estate associations have courses and professional development programs for both beginners and experienced agents. These courses cover a variety of topics, such as real estate fundamentals, real estate law, and mortgage financing.
Licenses, Certifications, and Registrations for Real Estate Brokers and Sales Agents
All real estate brokers and sales agents must be licensed. Licensing requirements vary by state, but most have similar basic requirements:
Candidates must:
- be 18 years old
- complete a number of real estate courses
- pass an exam
Some states have additional requirements, such as passing a background check. Licenses typically are not transferable among states. However, some states have reciprocity agreements in that they will accept some requirements used to get a license in another state (such as course hours).
To obtain a broker's license, individuals generally need 1 to 3 years of experience as a licensed sales agent. They also must take additional formal training courses. In some states, a bachelor's degree may be substituted in place of some experience or training requirements.
State licenses typically must be renewed every 2 to 4 years. In most states, brokers and agents must complete continuing education courses to renew their license. To verify exact licensing requirements, prospective brokers and agents should contact the real estate licensing commission of the state in which they wish to work.
Work Experience in a Related Occupation for Real Estate Brokers and Sales Agents
To get a broker's license in most states, real estate brokers must have experience working as a licensed real estate sales agent. Requirements vary by state, but most require 1 to 3 years of experience.
Real Estate Broker and Sales Agent Training
Real estate sales agents improve their skills through practice and repetition. Training varies depending on the real estate company. Some provide formal training, while others allow their agents to enter the field immediately after obtaining their license. In some states, agents must be sponsored by a broker while they are working to get their license.
Because of the sales environment and the complexity of real estate deals, new agents may observe and work closely with more senior agents. Larger real estate companies may provide formal classroom training for new agents as a way to gain knowledge and experience, while others provide training to employees studying for their real estate licensing exam.
Advancement for Real Estate Brokers and Sales Agents
Sales agents who earn their broker's license may open their own offices.
Important Qualities for Real Estate Brokers and Sales Agents
Business skills. Because most brokers are self-employed, they must manage every aspect of their business. This task includes reaching out to prospective clients, handling their finances, and advertising their services.
Interpersonal skills. Strong interpersonal skills are essential for real estate brokers and sales agents, because they spend much of their time interacting with clients and customers. To attract and keep clients, they must be pleasant, enthusiastic, and trustworthy.
Organizational skills. Real estate brokers and sales agents must be able to work independently, managing their own time and organizing, planning, and prioritizing their work.
Problem-solving skills. Real estate brokers and sales agents need to be able to quickly (sometimes immediately) address concerns clients or potential customers may have with a property. They also mediate negotiations between seller and buyer.
Real Estate Broker and Sales Agent Salaries[About this section] [More salary/earnings info] [To Top]
The median annual wage for real estate brokers is $62,010. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $30,470, and the highest 10 percent earned more than $176,080.
The median annual wage for real estate sales agents is $48,340. The lowest 10 percent earned less than $28,270, and the highest 10 percent earned more than $102,170.
The median annual wages for real estate brokers in the top industries in which they work are as follows:
| Real estate and rental and leasing | $61,890 |
The median annual wages for real estate sales agents in the top industries in which they work are as follows:
| Construction | $48,270 |
| Real estate and rental and leasing | $47,530 |
Brokers and sales agents earn most of their income from commissions on sales. The commission varies by the type of property and its value. Commissions often are divided among the buying agent, selling agent, brokers, and firms.
An agent's income often depends on economic conditions, the agent's individual motivation, and the types of property available. Income usually increases as agents become better and more experienced at sales. Earnings can be irregular, especially for beginners, and agents sometimes go weeks or months without a sale. Some agents become active in community organizations and local real estate organizations to broaden their contacts and increase their sales.
Many real estate brokers and sales agents work more than 40 hours per week. They often work evenings and weekends to accommodate clients' schedules. Many brokers and sales agents spend a significant amount of time networking and attending community events to meet potential clients. Although they frequently work irregular hours, many can set their own schedules.
Some brokers and sales agents work part time and may combine their real estate activities with other careers.
Job Outlook for Real Estate Brokers and Sales Agents[About this section] [To Top]
Employment of real estate brokers and sales agents is projected to grow 5 percent over the next ten years, about as fast as the average for all occupations.
About 54,800 openings for real estate brokers and sales agents are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
See all real estate jobs.
Employment of Real Estate Brokers and Sales Agents
There will be a continued demand for real estate brokers and sales agents because people turn to these workers when looking for a new home, relocating, or purchasing property for a business, among other reasons. Employment is projected to grow along with the real estate market.
Tighter credit regulations and increasing real estate prices may force some people to continue renting as opposed to entering the housing market, which may result in fewer new jobs for real estate brokers and sales agents.
The real estate market is highly sensitive to fluctuations in the economy, and projected employment of real estate brokers and agents varies accordingly. In periods of economic growth or stability, employment should grow to accommodate people looking to buy homes and commercial or retail space. Alternatively, during periods of declining economic activity or rising interest rates, the amount of work for brokers and agents often slows and employment may decline.
| Occupational Title | Employment, 2021 | Projected Employment, 2031 | Change, 2021-31 | |
|---|---|---|---|---|
| Percent | Numeric | |||
| Real estate brokers and sales agents | 562,100 | 592,200 | 5 | 30,100 |
| Real estate brokers | 123,100 | 130,200 | 6 | 7,100 |
| Real estate sales agents | 438,900 | 462,000 | 5 | 23,100 |
More Real Estate Broker and Sales Agent Information[About this section] [To Top]
Information on licensing requirements for real estate brokers and sales agents is available from most local real estate organizations and from the state real estate commission or board.
For more information about opportunities in real estate, visit
A portion of the information on this page is used by permission of the U.S. Department of Labor.