Photo: Images Money (CC BY 2.0)
Job description
Brokers list properties for sale, negotiate between buyers and sellers through closing, and pull together comparable sales data to price homes competitively. Many split their time between running the business side of an office, managing agents and paperwork, and staying hands-on with individual deals themselves. Because a sale often hinges on tense negotiations over price and terms, brokers spend a lot of the job managing frustrated clients calmly while keeping deals moving toward close.
Pros
- High upside earning potential, with top pay exceeding $143k
- Independent, entrepreneurial work operating your own office or transactions
- Faster than average projected job growth (3.3%) over the next decade
Cons
- Above-average hours, often 40-50 per week including evenings and weekends to meet clients
- Entry-level pay can be low and inconsistent since income often depends on commission
- Requires a bachelor's degree plus licensing, a longer path in than many sales roles
A typical day
The broker's morning starts before the office opens: reviewing yesterday's contracts from the team's agents, because every transaction in the office closes under the broker's license and liability. A 9am sales meeting covers new inventory and a compliance reminder about disclosure forms. Mid-morning brings a deal in trouble — an appraisal came in low — and the broker coaches the listing agent through renegotiation options. Lunch is recruiting: a talented agent at a rival brokerage might move for the right split. The afternoon holds the broker's own client, a commercial lease negotiation, plus reviewing marketing spend and an escrow question that needs an exact, careful answer. Ownership means the phone never fully turns off.
Tasks at the job
- 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.
- 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.
Workplace & working conditions
Work happens indoors in a climate-controlled setting.
There's a regular, moderate amount of time pressure, and you're expected to exercise significant independent judgment day to day. The work is highly structured, following set procedures. You'll regularly deal with frustrated or upset people as part of the job.
Education necessary or common
Bachelor's degree
Common college majors
Licenses & certifications
- State real estate salesperson license, then broker license
- REALTOR designations (GRI, CRS) later
Career path
Related fields
Courses to take
- Business/Economics — a brokerage is a business to run, not just deals to close
- Consumer Math/Personal Finance — mortgages, commissions, and closing math
- AP English Language — contracts and negotiation
- Psychology — sales and managing salespeople
- Marketing — listings live and die on it
Clubs, activities & competitions
- DECA — real estate and entrepreneurship events
- FBLA
- Student government — leadership practice
- A sales-adjacent part-time job
First steps you can take now
- Interview a broker about the difference between agent and broker life
- Study your state's real estate licensing path — agent first, broker after experience plus coursework
- Attend an open house and watch how the agent works the room
- Follow local sale prices in one neighborhood for a month and learn what moves them
