| Quick Facts: Real Estate Brokers and Sales Agents | |
| 2019 Median Pay | $47,880 per year $23.02 per hour |
| Typical Entry-Level Education | High school diploma or equivalent |
| Work Experience in a Related Occupation | See How to Become One |
| On-the-job Training | See How to Become One |
| Number of Jobs, 2016 | 444,100 |
| Job Outlook, 2016-26 | 6% (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.
Facts: 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).
Facts: 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 workers | 56% |
| Real estate and rental and leasing | 39 |
Real estate sales agents held about 348,800 jobs in 2016. The largest employers of real estate sales agents were as follows:
| Self-employed workers | 56% |
| Real estate and rental and leasing | 35 |
| 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.
Facts: 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 .
TOPIC: Real Estate Occupational Facts
Real Estate Training Institute
The Real Estate Training Institute is approved by the Mississippi Real Estate Commission to supply instruction in real estate courses. We are locally owned and serve our Mississippi family, friends and neighbors. Established in 1989.