How to hire a managing broker

How to hire a managing broker, step by step

Here's a step-by-step managing 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 managing broker job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new managing broker
• Step 8: Go through the hiring process checklist

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1. Identify your hiring needs

   First, determine the employments status of the managing broker you need to hire. Certain managing broker roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   A managing broker's background is also an important factor in determining whether they'll be a good fit for the position. For example, managing 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 shows salaries for various types of managing brokers.

   Type of Managing Broker	Description	Hourly rate
   Managing 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	$19-44
   Real Estate Sales Supervisor	Real 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
   Real Estate Closer	A real estate closer is primarily in charge of closing real estate sales, liaising with buyers and sellers most of the time. Their responsibilities typically include preparing and processing legal documents, coordinating with attorneys, delivering paperwork to all parties, and completing all requirements... Show more	$12-27

   Show more

2. Create an ideal candidate profile

   Common skills:

   • MLS
   • Real Estate Brokerage
   • Real Estate Sales
   • Financial Analysis
   • Property Management
   • Real Estate Law
   • Regulatory Compliance
   • Residential Real Estate
   • Business Plan
   • Payroll
   • Real Estate Professionals
   • Sales Associates
   • Market Analysis
   • Real Estate Transactions

   Check all skills

   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.

3. Make a budget

   Including a salary range in your managing broker job description is a great way to entice the best and brightest candidates. A managing broker salary can vary based on several factors:

   • Location. For example, managing brokers' average salary in missouri is 58% less than in new york.
   • Seniority. Entry-level managing brokers earn 55% less than senior-level managing brokers.
   • Certifications. A managing broker with a few certifications under their belt will likely demand a higher salary.
   • Company. Working for a prestigious company or an exciting start-up can make a huge difference in a managing broker's salary.

   Average managing broker salary

   $61,806yearly

   $29.71 hourly rate

   ---

   Entry-level managing broker salary

   $41,000 yearly salary

   Updated December 23, 2025

4. Writing a managing broker job description

   A managing broker job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a managing broker job description:

   Managing broker job description example

   BNYM's global Financial Crimes Compliance group is responsible for the Firm wide Anti-Money Laundering (AML)/Know Your Customer (KYC)/Customer Due diligence (CDD) and Economics Sanctions Compliance (collectively "FCC") Program. The team provides oversight of the day-to-day and strategic implementation of the Firm's enterprise-wide financial crime prevention efforts. This includes providing the appropriate governance, oversight and execution of the Firm's FCC programs. Part of the responsibility includes providing expertise, guidance and support/challenge to all BNY Mellon businesses globally on KYC/CDD policies and requirements, including the various dedicated KYC utilities that assist the businesses in implementing KYC/CDD requirements globally.
   
   As a senior leader of the Global FCC Compliance Program, this role provides oversight/challenge and guidance to the Broker Dealers, Markets, and Investment management businesses' applicable obligations globally. This senior role applies financial crimes regulatory knowledge and financial services industry experience in order to continually enhance and sustain a robust set of requirements, and the provision of advice on an ongoing basis. The incumbent must work effectively with multiple stakeholders within the institution to enhance their understanding of compliance and overall enterprise risks, as well as the risk management and implementation of mitigating; serve as a solution champion and a lead subject matter expert in the area of financial crimes compliance (including USA PATRIOT Act/Bank Secrecy Act and various EMEA and APAC AML regulations).
   Description:
   
   * Works with Broker Dealers, Markets, and Investment Management to enhance their understanding of compliance and overall enterprise risks, as well as the risk management and implementation of mitigating controls. Based on assessments of controls, advise business units on the implementation of improvements and the completion of appropriate documentation when control changes are made.
   * Analyzes existing and proposed legislation, regulatory announcements, and industry practices in order to advise BNY Mellon businesses, and other stakeholders on developing and implementing procedures to meet existing and upcoming requirements and verify compliance with complex regulatory and policy requirements; make recommendations on compliance risks as well as benchmark Compliance processes and workflows against evolving industry standards.
   * Provides enterprise-wide advice on entire business units' strategy changes to further improve their ability to remain in compliance with or become compliant with organizational policies and regulations.
   * Participates in the governance and oversight of firm-wide efforts to plan, coordinate, and track the implementation of the financial crimes program standards, including periodic refresh, and related regional standards.
   * Represents the company with respect to key controls in internal, external, and regulatory audits and examinations.
   * Serves as a solution champion and a lead subject matter expert in Financial Crimes Compliance (including USA PATRIOT Act/Bank Secrecy Act (BSA)/AML) as it pertains to specialized products such as digital/virtual asset products/services.
   * Assists in preparation of guidance materials and senior management presentations.
   
   Qualifications
   
   * Bachelor's degree or the equivalent combination of education and experience is required. MBA, JD or professional certification preferred.
   * 15+ years of total work experience, with 5-7 years of management experience, preferred. Financial Services, Audit or Compliance background and/or experience with financial services compliance and/or experience with the assigned products, services or business lines/areas and the pertaining laws, regulations and rules of relevant regulators preferred..
   
   BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans.
   
   Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.

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5. Post your job

   To find managing brokers for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any managing brokers they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level managing brokers with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your managing broker job on Zippia to find and recruit managing broker candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   Recruiting managing brokers requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.

   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 managing broker

   Once you've found the managing broker candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   It's also good etiquette to follow up with applicants who don't get the job by sending them 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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