How To Become A Managing Broker: What It Is and Career Path

What is a managing broker and how to become one

Updated January 8, 2025

3 min read

There is more than meets the eye when it comes to being a managing broker. For example, did you know that they make an average of $29.71 an hour? That's $61,806 a year! Between 2018 and 2028, the career is expected to grow 5% and produce 30,100 job opportunities across the U.S.

ScoreManaging BrokerUS Average

Salary

4.8

Avg. Salary $61,806

Avg. Salary $59,228

Stability level

7.9

Growth rate 5%

Growth rate 0.3%

Diversity

3.4

Race

American Indian and Alaska Native 0.32%

Asian 6.93%

Black or African American 5.35%

Hispanic or Latino 13.40%

Unknown 4.32%

White 69.68%

Gender

female 40.45%

male 59.55%

Age - 50

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 50

Stress level

7.9

Stress level is high

7.1 - high

Complexity level

9.1

Complexity level is advanced

7 - challenging

Work life balance

3.6

Work life balance is poor

6.4 - fair

Key steps to become a managing broker

Explore managing broker education requirements

Most common managing broker degrees

Bachelor's

65.3 %

Master's

12.4 %

Associate

11.4 %

Start to develop specific managing broker skills

Skills	Percentages
MLS	17.59%
Real Estate Brokerage	15.46%
Real Estate Sales	8.32%
Financial Analysis	7.68%
Property Management	7.37%

Complete relevant managing broker training and internships

Accountants spend an average of 6-12 months on post-employment, on-the-job training. New managing brokers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a managing broker based on U.S. Bureau of Labor Statistics data and data from real managing broker resumes.

Obtain the necessary licensing

Becoming a licensed managing broker usually doesn't require a college degree. However, you need to pass an exam to become a licensed managing broker in most of states. 46 states require managing brokers to have license for their work. You can see the list of states below.

State	Education	Exam	License url
Alabama	-	State exam required	Licensed Real Estate Broker
Maryland	Degree required	State exam required	REAL ESTATE BROKER
Alaska	-	-	Real Estate Broker
Arkansas	Specific course required	State exam required	Real Estate Broker
California	Degree required	State exam required	Real Estate Broker License

Research managing broker duties and 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.

Prepare your managing broker resume

When your background is strong enough, you can start writing your managing broker resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a managing broker resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose from 10+ customizable managing broker resume templates

Build a professional managing broker resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your managing broker resume.