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Working as a Managing Broker

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 $31.4 an hour? That's $65,318 a year!

Between 2018 and 2028, the career is expected to grow 7% and produce 32,400 job opportunities across the U.S.

What Does a Managing Broker Do

There are certain skills that many managing brokers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed business skills, interpersonal skills and organizational skills.

When it comes to the most important skills required to be a managing broker, we found that a lot of resumes listed 36.7% of managing brokers included real estate, while 10.9% of resumes included mls, and 6.3% of resumes included buyers. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the managing broker job title. But what industry to start with? Most managing brokers actually find jobs in the real estate and finance industries.

How To Become a Managing Broker

If you're interested in becoming a managing broker, one of the first things to consider is how much education you need. We've determined that 46.0% of managing brokers have a bachelor's degree. In terms of higher education levels, we found that 20.8% of managing brokers have master's degrees. Even though most managing brokers have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a managing broker. When we researched the most common majors for a managing broker, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on managing broker resumes include associate degree degrees or license degrees.

You may find that experience in other jobs will help you become a managing broker. In fact, many managing broker jobs require experience in a role such as associate broker. Meanwhile, many managing brokers also have previous career experience in roles such as broker or real estate agent.

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Average Salary$65,318
Job Growth Rate7%

Managing Broker Career Paths

Top Careers Before Managing Broker

Broker
8.7 %

Top Careers After Managing Broker

Broker
12.5 %

What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Managing Broker

Managing Brokers in America make an average salary of $65,318 per year or $31 per hour. The top 10 percent makes over $117,000 per year, while the bottom 10 percent under $36,000 per year.
Average Salary
$65,318

Best Paying Cities

0

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Managing Broker
Managing Broker
Re/Max Integrity Oregon
Re/Max Integrity Oregon
10/31/2019
10/31/2019
$55,00010/31/2019
$55,000
Broker-Private Company Management Liability
Broker-Private Company Management Liability
JLT Specialty Insurance Services, Inc.
JLT Specialty Insurance Services, Inc.
01/10/2019
01/10/2019
$80,00001/10/2019
$80,000
Broker-Private Company Management Liability
Broker-Private Company Management Liability
JLT Specialty Insurance Services, Inc.
JLT Specialty Insurance Services, Inc.
09/15/2017
09/15/2017
$62,50009/15/2017
$62,500
Broker-Private Company Management Liability
Broker-Private Company Management Liability
JLT Specialty Insurance Services, Inc.
JLT Specialty Insurance Services, Inc.
09/13/2017
09/13/2017
$62,50009/13/2017
$62,500
Broker-Private Company Management Liability
Broker-Private Company Management Liability
JLT Specialty Insurance Services, Inc.
JLT Specialty Insurance Services, Inc.
09/13/2017
09/13/2017
$62,50009/13/2017
$62,500

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Managing Broker Demographics

Gender

male

53.8 %

female

38.1 %

unknown

8.0 %

Ethnicity

White

74.3 %

Hispanic or Latino

12.2 %

Asian

6.4 %

Foreign Languages Spoken

Spanish

28.0 %

Russian

8.0 %

Polish

8.0 %
See More Demographics

Managing Broker Education

Majors

Business
30.5 %
Finance
7.9 %

Degrees

Bachelors

46.0 %

Masters

20.8 %

Associate

10.4 %

Top Colleges for Managing Brokers

1. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

3. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

4. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

5. San Diego State University

San Diego, CA • Public

In-State Tuition
$7,488
Enrollment
30,018

6. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

9. Arizona State University

Tempe, AZ • Public

In-State Tuition
$10,822
Enrollment
42,529

10. Harvard University

Cambridge, MA • Private

In-State Tuition
$50,420
Enrollment
7,582
See More Education Info
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Full Time
Part Time
Internship
Temporary

Top Skills For a Managing Broker

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 36.7% of managing brokers listed real estate on their resume, but soft skills such as business skills and interpersonal skills are important as well.

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Top Managing Broker Employers

1. Keller Williams Realty
3.7
Avg. Salary: 
$78,346
Managing Brokers Hired: 
26+
2. Re/Max
4.2
Avg. Salary: 
$78,745
Managing Brokers Hired: 
13+
3. Windermere
4.6
Avg. Salary: 
$77,928
Managing Brokers Hired: 
13+
4. Century 21
4.5
Avg. Salary: 
$55,089
Managing Brokers Hired: 
9+
5. Crye-Leike
4.9
Avg. Salary: 
$87,564
Managing Brokers Hired: 
9+
6. Coldwell Banker Real Estate Group
4.2
Avg. Salary: 
$80,593
Managing Brokers Hired: 
8+
Updated October 2, 2020