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Become An Associate Broker

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Working As An Associate Broker

  • Getting Information
  • Establishing and Maintaining Interpersonal Relationships
  • Updating and Using Relevant Knowledge
  • Interacting With Computers
  • Organizing, Planning, and Prioritizing Work
  • Make Decisions

  • Stressful

  • $61,000

    Average Salary

What Does An Associate Broker Do

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

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 home 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. 

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.

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How To Become An Associate Broker

Real estate brokers and sales agents need at least a high school diploma. Both brokers and sales agents must be licensed. To become licensed, candidates typically must complete a number of real estate courses and pass a licensing exam. 

Education

Real estate brokers and sales agents must have at least a high school diploma or equivalent. 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 college courses or 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

In all states and the District of Columbia, 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 and will accept licenses issued by some other states. 

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

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. 

Training

Real estate sales agents improve their skills through practice and repetition. Because of the sales environment and the complexity of real estate deals, new agents typically observe and work closely with more senior agents. In addition, some of the larger real estate companies 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

Sales agents who earn their broker’s license may open their own offices. 

Important Qualities

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.

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Associate Broker Career Paths

Associate Broker
Broker Account Executive Regional Sales Manager
Regional Sales Director
11 Yearsyrs
Broker Account Executive Account Manager
Commercial Account Manager
8 Yearsyrs
Broker Account Executive Owner
Owner And Sales
7 Yearsyrs
Real Estate Broker Consultant Regional Sales Manager
National Sales Director
11 Yearsyrs
Real Estate Broker Consultant Human Resources Manager
Director Of Talent Acquisition
11 Yearsyrs
Real Estate Broker Consultant Business Development Manager
Director New Business Development
11 Yearsyrs
Agent Administrator Property Manager
Senior Property Manager
8 Yearsyrs
Agent Executive Assistant Property Manager
Regional Property Manager
8 Yearsyrs
Agent Administrator Branch Manager
Business Development Officer
7 Yearsyrs
Sales Consultant Executive Assistant Property Manager
Commercial Property Manager
7 Yearsyrs
Sales Consultant Executive Assistant Assistant Property Manager
Leasing Director
5 Yearsyrs
Sales Consultant Legal Assistant Associate Attorney
Managing Owner
7 Yearsyrs
Loan Officer Team Leader Operations Director
Director Of Operations And Development
9 Yearsyrs
Loan Officer Senior Account Executive Director Of Sales
Area Vice President
12 Yearsyrs
Sales Person Sales Team Leader Inside Sales Manager
Inside Sales Account Manager
6 Yearsyrs
Sales Person Purchasing Agent Parts Manager
Commercial Sales Manager
7 Yearsyrs
Real Estate Agent Real Estate Appraiser Real Estate Manager
Acquisitions Manager
7 Yearsyrs
Loan Officer Administrator Realtor
Real Estate Management Specialist
7 Yearsyrs
Attorney Owner Owner And Founder
Founder, Co-Owner
5 Yearsyrs
Sales Person Business Developer Business Development Sales Manager
Consulting Sales Manager
5 Yearsyrs
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Help others decide if this is a good career for them

Do you work as an Associate Broker?

Average Yearly Salary
$61,000
View Detailed Salary Report
$31,000
Min 10%
$61,000
Median 50%
$61,000
Median 50%
$61,000
Median 50%
$61,000
Median 50%
$61,000
Median 50%
$61,000
Median 50%
$61,000
Median 50%
$119,000
Max 90%
Best Paying Company
CRC Insurance Services Inc.
Highest Paying City
Cary, NC
Highest Paying State
Delaware
Avg Experience Level
4.8 years
How much does an Associate Broker make at top companies?
The national average salary for an Associate Broker in the United States is $61,425 per year or $30 per hour. Those in the bottom 10 percent make under $31,000 a year, and the top 10 percent make over $119,000.

Real Associate Broker Salaries

Job Title Company Location Start Date Salary
Associate, Broker Dealer Services Jpmorgan Chase & Co. New York, NY Jun 01, 2010 $95,000
Associate Broker II Guy Carpenter & Company, LLC. Seattle, WA Oct 01, 2010 $68,300 -
$75,000
Associate Broker AON Risk Services Northeast, Inc. New York, NY Sep 17, 2015 $62,000
Associate Broker AON Risk Solutions, Inc. New York, NY Sep 03, 2014 $59,000 -
$72,800
Associate Broker AON Risk Services Northeast, Inc. New York, NY Sep 09, 2014 $59,000 -
$72,800
Associate Broker Guy Carpenter & Company, LLC. Atlanta, GA Mar 08, 2010 $53,100 -
$67,100

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How Would You Rate The Salary Of an Associate Broker?

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Top Skills for An Associate Broker

  1. Real Estate
  2. Prospective Buyers
  3. Property Sales
You can check out examples of real life uses of top skills on resumes here:
  • Specialized in corporate relocation and commercial real estate to include aviation real estate holdings.
  • Retail property acquisitions and renovation analysis and implementation for prospective buyers.
  • Exceeded property sales and property acquisition objectives.
  • Designed marketing plans for individual residential properties and general marketing plans for overall team exposure.
  • Compiled lists of properties that matched investor needs and financial resources, and accompanied them on property visits and inspections.

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Top 10 Best States for Associate Brokers

  1. Tennessee
  2. Alabama
  3. Kentucky
  4. Indiana
  5. Texas
  6. Iowa
  7. Arkansas
  8. Nebraska
  9. Pennsylvania
  10. Mississippi
  • (181 jobs)
  • (163 jobs)
  • (115 jobs)
  • (138 jobs)
  • (285 jobs)
  • (90 jobs)
  • (27 jobs)
  • (47 jobs)
  • (268 jobs)
  • (26 jobs)

Associate Broker Resume Examples And Tips

The average resume reviewer spends between 5 to 7 seconds looking at a single resume, which leaves the average job applier with roughly six seconds to make a killer first impression. Thanks to this, a single typo or error on your resume can disqualify you right out of the gate. At Zippia, we went through over 5,006 Associate Broker resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Create A Top Notch Associate Broker Resume

View Resume Examples

Associate Broker Demographics

Gender

Male

47.5%

Female

43.7%

Unknown

8.8%
Ethnicity

White

62.9%

Hispanic or Latino

15.8%

Black or African American

10.6%

Asian

6.9%

Unknown

3.8%
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Foreign Languages Spoken

Spanish

52.2%

French

10.7%

Italian

5.6%

German

4.5%

Portuguese

3.9%

Mandarin

2.8%

Korean

2.8%

Cantonese

2.2%

Arabic

2.2%

Russian

1.7%

Carrier

1.7%

Chinese

1.7%

Japanese

1.7%

Hebrew

1.1%

Vietnamese

1.1%

Thai

1.1%

Greek

1.1%

Dutch

0.6%

Hmong

0.6%

Bulgarian

0.6%
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Associate Broker Education

Schools

University of Phoenix

13.5%

Colorado State University

8.0%

University of Georgia

6.1%

New York University

5.9%

University of Colorado at Boulder

5.9%

University of Denver

5.9%

University of New Mexico

5.7%

Arizona State University

4.9%

Metropolitan State University of Denver

4.9%

Georgia State University

4.8%

University of Northern Colorado

3.8%

University of South Florida

3.6%

Florida International University

3.6%

Florida State University

3.6%

University of Arizona

3.6%

Regis University

3.4%

Kaplan University

3.4%

DePaul University

3.2%

University of Houston

3.2%

New Mexico State University

2.9%
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Majors

Business

31.3%

Real Estate

19.0%

Finance

5.6%

Marketing

4.6%

Management

4.4%

Psychology

4.3%

Accounting

4.2%

Political Science

3.7%

Communication

3.6%

Law

3.1%

Education

2.0%

Liberal Arts

1.9%

English

1.9%

Economics

1.8%

General Sales

1.8%

Legal Support Services

1.7%

Sociology

1.6%

Criminal Justice

1.3%

Fine Arts

1.2%

Elementary Education

1.2%
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Degrees

Bachelors

42.5%

Other

22.5%

Masters

14.0%

Associate

8.8%

License

4.9%

Certificate

3.7%

Doctorate

2.9%

Diploma

0.8%
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