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Broker vs managing broker

The differences between brokers and managing brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a broker has an average salary of $124,861, which is higher than the $61,806 average annual salary of a managing broker.

The top three skills for a broker include brokerage, financial services and insurance products. The most important skills for a managing broker are MLS, real estate brokerage, and real estate sales.

Broker vs managing broker overview

BrokerManaging Broker
Yearly salary$124,861$61,806
Hourly rate$60.03$29.71
Growth rate5%5%
Number of jobs2,7707,017
Job satisfaction--
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 65%
Average age4949
Years of experience--

Broker vs managing broker salary

Brokers and managing brokers have different pay scales, as shown below.

BrokerManaging Broker
Average salary$124,861$61,806
Salary rangeBetween $68,000 And $227,000Between $41,000 And $92,000
Highest paying CityNew York, NY-
Highest paying stateNew York-
Best paying companyChild Guidance & Family Solutions-
Best paying industryInsurance-

Differences between broker and managing broker education

There are a few differences between a broker and a managing broker in terms of educational background:

BrokerManaging Broker
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 65%
Most common majorBusinessBusiness
Most common collegeUniversity of Southern CaliforniaUniversity of Southern California

Broker vs managing broker demographics

Here are the differences between brokers' and managing brokers' demographics:

BrokerManaging Broker
Average age4949
Gender ratioMale, 63.8% Female, 36.2%Male, 59.5% Female, 40.5%
Race ratioBlack or African American, 5.3% Unknown, 4.3% Hispanic or Latino, 13.2% Asian, 6.9% White, 70.1% American Indian and Alaska Native, 0.3%Black or African American, 5.4% Unknown, 4.3% Hispanic or Latino, 13.4% Asian, 6.9% White, 69.7% American Indian and Alaska Native, 0.3%
LGBT Percentage13%13%

Differences between broker and managing broker duties and responsibilities

Broker example responsibilities.

  • Manage, lease and sell office condominiums on site.
  • Retail trader, fix income securities; manage client account activity; properly allocate client funds to appropriate investment options
  • Manage indexes, options, foreign equities, and short-selling positions that are compatible with clients' long-term investment goals.
  • Expand and maintain professional relationships with trading accounts including banks, hedge funds and portfolio managers.
  • Specialize in finding undervalue and/or overbought commodities by using fundamental and technical analysis that exist throughout the markets.
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Managing broker example responsibilities.

  • Create and manage all advertising: fliers, brochures, web-site design, MLS input.
  • Manage all accounting, cash management, budgeting and financing for individual LLC's and for corporate entity.
  • Perform routine and closing inspections on HUD properties on asset manager timelines.
  • Prepare contracts and documentation; advise clients on general escrow and title procedures.
  • Design and maintain business web site, business accounting, attend marketing and training seminars for HUD homes.
  • Solicit profitable freight brokerage business by marketing transportation capability via direct sales calls, telephone and direct mail marketing activity.
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Broker vs managing broker skills

Common broker skills
  • Brokerage, 17%
  • Financial Services, 9%
  • Insurance Products, 7%
  • Risk Management, 6%
  • Client Relationships, 6%
  • Real Estate Transactions, 5%
Common managing broker skills
  • MLS, 18%
  • Real Estate Brokerage, 15%
  • Real Estate Sales, 8%
  • Financial Analysis, 8%
  • Property Management, 7%
  • Real Estate Law, 7%