Real Estate Training Institute

 

Quick Facts: Real Estate Brokers and Sales Agents
2017 Median Pay$47,880 per year
$23.02 per hour
Typical Entry-Level EducationHigh school diploma or equivalent
Work Experience in a Related OccupationSee How to Become One
On-the-job TrainingSee How to Become One
Number of Jobs, 2016444,100
Job Outlook, 2016-266% (As fast as average)
Employment Change, 2016-26

24,900

 

How to Become a Real Estate Broker or Sales Agent

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.

Pay

The median annual wage for real estate brokers was $56,730 in May 2017.

The median annual wage for real estate sales agents was $45,990 in May 2017.

 

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Real Estate Brokers and Sales Agents, on the Internet at https://www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm (visited October 01, 2018).

Work Environment

Real estate brokers and sales agents show properties to prospective buyers.

Real estate brokers held about 95,300 jobs in 2016. The largest employers of real estate brokers were as follows:

Self-employed workers56%
Real estate and rental and leasing39

Real estate sales agents held about 348,800 jobs in 2016. The largest employers of real estate sales agents were as follows:

Self-employed workers56%
Real estate and rental and leasing35
Construction3

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.

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.

CITATION:

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Real Estate Brokers and Sales Agents,
on the Internet .

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