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Associate broker hiring summary. Here are some key points about hiring associate brokers in the United States:
Here's a step-by-step associate broker hiring guide:
An Associate Broker demonstrates property to prospective homeowners and gives offers to sellers for consideration. Associate Brokers design real estate databases, maintain property data or blueprints and develop strategies for process improvement. They create MLS listings and establish and distribute advertising materials. Their job involves the incorporation of innovative marketing techniques like direct mail, print advertising, and intensive internet exposure. They also review and evaluate real estate transactions for quality control and accuracy.
Before you post your associate broker job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find an associate broker for hire on a part-time basis or as a contractor.
An associate broker's background is also an important factor in determining whether they'll be a good fit for the position. For example, associate brokers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list presents associate broker salaries for various positions.
| Type of Associate Broker | Description | Hourly rate |
|---|---|---|
| Associate Broker | 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... Show more | $18-50 |
| Realtor | A realtor is responsible for processing real estate transactions and assisting clients with their concerns and inquiries about a specific property. A realtor should always work for their clients' best interests, ensuring that proposals work within the client's specified budget and property goals... Show more | $12-25 |
| Real Estate Consultant | A real estate consultant is a professional who provides specialized investment and financial advice to clients who are looking to buy, sell, or invest in property. A real estate consultant must provide as many details as possible so that the client can make their decision and avoid problems in the process... Show more | $29-66 |
Including a salary range in your associate broker job description is one of the best ways to attract top talent. An associate broker can vary based on:
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $100,664 | $48 |
| 2 | New Jersey | $91,468 | $44 |
| 3 | Virginia | $88,740 | $43 |
| 4 | Washington | $83,696 | $40 |
| 5 | Pennsylvania | $81,630 | $39 |
| 6 | Maryland | $78,604 | $38 |
| 7 | Arizona | $74,324 | $36 |
| 8 | North Carolina | $72,551 | $35 |
| 9 | California | $72,423 | $35 |
| 10 | Michigan | $70,527 | $34 |
| 11 | Indiana | $69,550 | $33 |
| 12 | Utah | $68,121 | $33 |
| 13 | Massachusetts | $62,988 | $30 |
| 14 | Colorado | $58,813 | $28 |
| 15 | Texas | $56,782 | $27 |
| 16 | Louisiana | $55,970 | $27 |
| 17 | Mississippi | $55,100 | $26 |
| 18 | Illinois | $52,150 | $25 |
| 19 | Oklahoma | $45,924 | $22 |
| 20 | Georgia | $45,631 | $22 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Cushman & Wakefield | $88,581 | $42.59 | |
| 2 | Colliers International | $87,898 | $42.26 | 1 |
| 3 | NFP Ventures | $83,377 | $40.09 | 3 |
| 4 | Industrious | $80,790 | $38.84 | |
| 5 | CB Richard Ellis Memphis LLC | $80,205 | $38.56 | |
| 6 | EPIC Insurance Brokers & Consultants | $79,392 | $38.17 | 1 |
| 7 | Open Door | $79,264 | $38.11 | |
| 8 | H. W. Kaufman | $78,690 | $37.83 | 12 |
| 9 | JLL | $77,298 | $37.16 | 1 |
| 10 | Stan Johnson | $76,643 | $36.85 | |
| 11 | Ryan Specialty Group | $76,233 | $36.65 | 62 |
| 12 | Brown & Riding Insurance Services | $75,642 | $36.37 | |
| 13 | Texas Capital Bank | $74,881 | $36.00 | 1 |
| 14 | NAI Hiffman | $73,597 | $35.38 | |
| 15 | CBRE Group | $73,589 | $35.38 | 61 |
| 16 | Crump Insurance | $73,269 | $35.23 | |
| 17 | Brown & Brown | $72,019 | $34.62 | 10 |
| 18 | Arlington/Roe | $68,005 | $32.69 | |
| 19 | National Financial Network | $67,183 | $32.30 | 8 |
| 20 | Aon Risk Services Inc of Maryland | $66,210 | $31.83 |
A job description for an associate broker role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's an associate broker job description:
To find associate brokers for your business, try out a few different recruiting strategies:
Your first interview with associate broker candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've selected the best associate broker candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.
You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.
To prepare for the new associate broker first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
Before you start to hire associate brokers, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire associate brokers pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
Associate brokers earn a median yearly salary is $64,361 a year in the US. However, if you're looking to find associate brokers for hire on a contract or per-project basis, hourly rates typically range between $18 and $50.