Real Estate Brokers
SOC code 41-9021 · O*NET-SOC 41-9021.00 · Considerable preparation needed · Sales
Real Estate Brokers pay
U.S. national figures, May 2025 BLS survey · How we got this number
Median pay
$73,220
a year
Hourly
$35.20
per hour
The solid band is the middle 50% of workers; the bar spans the 10th to 90th percentile.
Average pay
$83,950
$40.36 per hour
Middle 50%
$46,480 – $103,360
25th to 75th percentile
Full spread
$37,110 – $143,300
10th to 90th percentile
People employed
46,100
nationwide
National U.S. figure, May 2025. Local pay can be higher or lower.
- 10th percentile
- $37,110
- $17.84/hr
- 25th percentile
- $46,480
- $22.35/hr
- Median percentile
- $73,220
- $35.20/hr
- 75th percentile
- $103,360
- $49.69/hr
- 90th percentile
- $143,300
- $68.89/hr
What does a real estate broker do?
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.
The tasks that matter most day to day
- Obtain agreements from property owners to place properties for sale with real estate firms.
- Sell, for a fee, real estate owned by others.
- Compare a property with similar properties that have recently sold to determine its competitive market price.
- 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.
- Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
- Rent properties or manage rental properties.
- Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
How to become a real estate broker
Preparation level: zone 4 — Considerable preparation needed
- Education
- Most of these occupations require a four-year bachelor's degree, but some do not.
- Experience
- 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.
- Training
- Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
The federal survey did not capture education levels for this specific occupation, so the preparation-level card above is the best guide to the entry route.
Common questions
How much does a real estate broker earn?
The national median is $73,220 a year. The full range runs from $37,110 at the 10th percentile to $143,300 at the 90th — entry pay sits closer to the lower figure, and experience, licensing and specialisation move you up the range.
Can you become a real estate broker without a degree?
Not usually — this occupation sits in preparation zone 4, where the typical entry route is most of these occupations require a four-year bachelor's degree, but some do not. The education breakdown above shows what people in the role actually reported.
Skills and knowledge you need
Core skills
- Reading Comprehension4.0/5
- Active Listening4.0/5
- Speaking4.0/5
- Active Learning4.0/5
- Critical Thinking3.9/5
- Writing3.4/5
Knowledge areas
- Sales and Marketing4.8/5
- English Language4.1/5
- Economics and Accounting4.0/5
- Customer and Personal Service4.0/5
- Administration and Management3.8/5
- Mathematics3.5/5
- Administrative3.4/5
- Law and Government3.3/5
Transferable strengths: Negotiation, Persuasion, Judgment and Decision Making, Social Perceptiveness.