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How to hire a broker

Broker hiring summary. Here are some key points about hiring brokers in the United States:

  • The median cost to hire a broker is $1,633.
  • It takes between 36 and 42 days to fill the average role in the US.
  • HR departments typically allocate 15% of their budget towards recruitment efforts.
  • Small businesses spend $1,105 per broker on training each year, while large companies spend $658.
  • It takes approximately 12 weeks for a new employee to reach full productivity levels.
  • There are a total of 43,185 brokers in the US, and there are currently 2,770 job openings in this field.
  • New York, NY, has the highest demand for brokers, with 34 job openings.

How to hire a broker, step by step

To hire a broker, you should create an ideal candidate profile, determine a budget, and post and promote your job. Here's a step-by-step guide on how to hire a broker:

Here's a step-by-step broker hiring guide:

  • Step 1: Identify your hiring needs
  • Step 2: Create an ideal candidate profile
  • Step 3: Make a budget
  • Step 4: Write a broker job description
  • Step 5: Post your job
  • Step 6: Interview candidates
  • Step 7: Send a job offer and onboard your new broker
  • Step 8: Go through the hiring process checklist

What does a broker do?

Brokers can either be a firm or an individual acting as an intermediary between a securities exchange and an investor. They often provide services to individual investors and traders who cannot engage directly with security exchanges, which only accept orders from their members. They provide investors and traders with an investment plan, market intelligence, and research. They may cross-sell some financial services and products offered by their brokerage firms. They are also typically classified as discount or full-service brokers.

Learn more about the specifics of what a broker does
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  1. Identify your hiring needs

    Before you start hiring a broker, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

    Determine employee vs contractor status
    Is the person you're thinking of hiring a US citizen or green card holder?

    A broker's background is also an important factor in determining whether they'll be a good fit for the position. For example, 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.

    The following list breaks down different types of brokers and their corresponding salaries.

    Type of BrokerDescriptionHourly rate
    BrokerReal 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$32-109
    Licensed AgentLicensed Agents act as authorized brokers acting on behalf of an individual owner or organization in selling a product, service, or property. There are many different pathways a licensed agent can delve into, such as in real estate, insurance, and banking... Show more$13-29
    Real Estate Sales SupervisorReal estate attorneys are legal professionals whose expertise focuses on real estate law and legislation. They are responsible for preparing and reviewing documents related to real estate, including mortgage documents, title documents, and purchase agreements... Show more$12-34
  2. Create an ideal candidate profile

    Common skills:
    • Brokerage
    • Financial Services
    • Insurance Products
    • Risk Management
    • Client Relationships
    • Real Estate Transactions
    • PowerPoint
    • Business Relationships
    • Medicaid
    • Strong Negotiation
    • Life Insurance
    • Market Trends
    • Business Development
    • Windows
    Check all skills
    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.
    • Install the oracle client for windows.
    More broker duties
  3. Make a budget

    Including a salary range in your broker job description helps attract top candidates to the position. A broker salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

    For example, the average salary for a broker in Iowa may be lower than in New York, and an entry-level broker usually earns less than a senior-level broker. Additionally, a broker with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

    Average broker salary

    $124,861yearly

    $60.03 hourly rate

    Entry-level broker salary
    $68,000 yearly salary
    Updated January 16, 2026

    Average broker salary by state

    RankStateAvg. salaryHourly rate
    1New York$184,005$88
    2Virginia$159,618$77
    3North Carolina$150,112$72
    4Arizona$146,642$71
    5Connecticut$137,079$66
    6Maine$134,787$65
    7New Jersey$129,445$62
    8Washington$127,392$61
    9Texas$126,809$61
    10Nevada$125,307$60
    11Pennsylvania$120,159$58
    12Michigan$118,323$57
    13Ohio$117,255$56
    14Massachusetts$116,926$56
    15Minnesota$116,010$56
    16Utah$112,278$54
    17Arkansas$111,707$54
    18Colorado$106,262$51
    19California$106,135$51
    20Georgia$92,919$45

    Average broker salary by company

    RankCompanyAverage salaryHourly rateJob openings
    1Child Guidance & Family Solutions$202,299$97.26
    2Enlace Chicago$184,889$88.89
    3Orpine$183,634$88.29
    4Hewlett Packard Enterprise$168,379$80.95
    5Cumberland River Behavioral Health, Inc.$166,909$80.24
    6Guy Carpenter$166,365$79.98
    7Tullett Prebon$165,201$79.425
    8Marsh & McLennan Companies$164,715$79.1910
    9AIG$164,331$79.018
    10CB Richard Ellis Memphis LLC$164,275$78.98
    11IMC Inc$164,275$78.983
    12OfferPad$164,275$78.98
    13KPI OceanConnect$164,275$78.98
    14H.M. Brown & Associates$164,247$78.96
    15Transworld Business Advisors$164,200$78.942
    16*n/a*$164,154$78.92
    17Cain and Abel$163,637$78.67
    18Charlie's Produce$163,512$78.61
    19Strategic Systems International$162,879$78.31
    20Jewish Family Service of Western Massachusetts$162,572$78.16
  4. Writing a broker job description

    A job description for a 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 a broker job description:

    Broker job description example

    Transworld Business Advisors is expanding throughout Ohio. With over 300 offices in the US and worldwide, we are growing rapidly and actively hiring business brokers, sales consultants, and advisors to work in the greater metropolitan Cleveland / North Central Ohio area.

    Last year, most of our 800+ sales professionals earned well over 6 figures with several dozen making over $200,000. Choose your compensation level as this is a 100% commission-based position. With your drive, dedication, commitment, and transferrable skills, you too can be part of the exciting expansion. Earn commission from 3 separate and distinct revenue sources: sales of existing businesses, franchise development consulting, and existing franchise sales – we represent over 500 franchise businesses.

    Training is provided and previous business broker experience is NOT a requirement. We want hard working, enthusiastic, driven, ethical, smart people who love to learn and have a passion for helping local business owners succeed.

    Job Description – your primary duties as a business broker include:

    • Business Brokerage – build relationships with small business owners and help them prepare their business to be confidentially listed for sale. Once the business is listed you act as relationship manager on the transaction, representing the seller, screening buyers, qualifying offers, overseeing due diligence and managing the closing process.
    • Franchise Consulting – help prospective buyers find and purchase the right franchise based on their wants, skill sets, financial ability and earning expectations. We have partnerships with hundreds of franchisors whom you can present to potential buyers.
    • Franchise Development – support owners to grow and expand their business through franchising.
    • Exit Planning – as a preferred consulting partner with Exit Factor , work with small and mid-sized companies to prepare them for sale by partnering with our certified exit planners increasing total enterprise value and likelihood of success.

    While you operate independently as an entrepreneur setting your own schedule and building your business around your desired lifestyle, the office provides you with a multitude of support programs and functions to help drive your success. This includes local marketing and lead generation activities, customized tele-consulting, targeted direct mail programs, administrative support, initial training, continued career development and team-based sales support.

    Our business broker position is a unique role that is highly attractive. Some of our most successful business brokers come from a variety of backgrounds:

    • Retired senior executives
    • Former small or middle market business owners
    • Outside sales professionals accustomed to selling intangible products and services
    • Finance and Accounting professionals
    • Veterans – your military service, background and experience is advantageous

    We work directly with owners of businesses, Presidents, and CEO’s. If you have worked as either a small business owner yourself, or someone who has partnered with and provided services to small business – this position allows you to utilize your experience, transferrable skills and your personal network helping people buy and sell businesses.

    For those of you who have spent their career in corporate America and are tired of the rat race and heavy travel demands, this position allows you to leverage your transferrable skills and experience with business owners while providing you the income you desire enjoying the lifestyle of your choice.

    Company DescriptionTransworld Business Advisors is a leading international provider of full service business brokerage, franchise consulting, and franchise development. Although we are part of a highly successful, growing, international organization our office is independently owned, operated and headquartered in Cleveland Metro area.
  5. Post your job

    There are a few common ways to find brokers for your business:

    • Promoting internally or recruiting from your existing workforce.
    • Ask for referrals from friends, family members, and current employees.
    • Attend job fairs at local colleges to meet candidates with the right educational background.
    • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.
    Post your job online:
    • Post your broker job on Zippia to find and recruit broker candidates who meet your exact specifications.
    • Use field-specific websites.
    • Post a job on free websites.
  6. Interview candidates

    To successfully recruit brokers, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up 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.

  7. Send a job offer and onboard your new broker

    Once you have selected a candidate for the broker position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.

    It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

    To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.

  8. Go through the hiring process checklist

    • Determine employee type (full-time, part-time, contractor, etc.)
    • Submit a job requisition form to the HR department
    • Define job responsibilities and requirements
    • Establish budget and timeline
    • Determine hiring decision makers for the role
    • Write job description
    • Post job on job boards, company website, etc.
    • Promote the job internally
    • Process applications through applicant tracking system
    • Review resumes and cover letters
    • Shortlist candidates for screening
    • Hold phone/virtual interview screening with first round of candidates
    • Conduct in-person interviews with top candidates from first round
    • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
    • Conduct background checks on top candidates
    • Check references of top candidates
    • Consult with HR and hiring decision makers on job offer specifics
    • Extend offer to top candidate(s)
    • Receive formal job offer acceptance and signed employment contract
    • Inform other candidates that the position has been filled
    • Set and communicate onboarding schedule to new hire(s)
    • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)
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How much does it cost to hire a broker?

Before you start to hire 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 brokers pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.

Brokers earn a median yearly salary is $124,861 a year in the US. However, if you're looking to find brokers for hire on a contract or per-project basis, hourly rates typically range between $32 and $109.

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