What Does a Real Estate Broker Do?

In this section, we take a look at the annual salaries of other professions. Take broker in charge for example. On average, the brokers in charge annual salary is $19,888 lower than what real estate brokers make on average every year.

While their salaries may differ, one common ground between real estate brokers and brokers in charge are a few of the skills required in each craft. In both careers, employees bring forth skills like property management, open houses, and client relationships.

There are some key differences in responsibilities as well. For example, a real estate broker responsibilities require skills like "real estate sales," "purchase agreements," "financial resources," and "comparative market analysis." Meanwhile a typical broker in charge has skills in areas such as "trust accounts," "escrow," "payroll," and "office operations." This difference in skills reveals how truly different these two careers really are.

On average, brokers in charge reach similar levels of education than real estate brokers. Brokers in charge are 4.1% less likely to earn a Master's Degree and 1.1% less likely to graduate with a Doctoral Degree.

The next role we're going to look at is the broker realtor profession. Typically, this position earns a lower pay. In fact, they earn a $39,445 lower salary than real estate brokers per year.

While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. We used info from lots of resumes to find that both real estate brokers and broker realtors are known to have skills such as "real estate sales," "purchase agreements," and "financial resources. "

But both careers also use different skills, according to real real estate broker resumes. While real estate broker responsibilities can utilize skills like "client relationships," "financial analysis," "financial statements," and "market research," some broker realtors use skills like "real property," "reo," "advise clients," and "building relationships."

On the topic of education, broker realtors earn similar levels of education than real estate brokers. In general, they're 3.2% less likely to graduate with a Master's Degree and 1.1% less likely to earn a Doctoral Degree.

The realtor profession generally makes a lower amount of money when compared to the average salary of real estate brokers. The difference in salaries is realtors making $41,960 lower than real estate brokers.

By looking over several real estate brokers and realtors resumes, we found that both roles utilize similar skills, such as "real estate sales," "purchase agreements," and "financial resources." But beyond that the careers look very different.

Some important key differences between the two careers are a few of the skills necessary to fulfill responsibilities. Some examples from real estate broker resumes include skills like "business development," "real estate firms," "financial analysis," and "financial statements," whereas a realtor might be skilled in "real estate license," "real property," "accompany clients," and "necessary paperwork. "

Additionally, realtors earn a higher salary in the real estate industry compared to other industries. In this industry, they receive an average salary of $37,845. Additionally, real estate brokers earn an average salary of $100,958 in the finance industry.

When it comes to education, realtors tend to earn similar education levels than real estate brokers. In fact, they're 3.2% less likely to earn a Master's Degree, and 1.8% less likely to graduate with a Doctoral Degree.

The fourth career we look at typically earns higher pay than real estate brokers. On average, brokers earn a difference of $44,611 higher per year.

According to resumes from both real estate brokers and brokers, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "property management," "open houses," and "client relationships. "

Each job requires different skills like "real estate sales," "purchase agreements," "financial resources," and "comparative market analysis," which might show up on a real estate broker resume. Whereas broker might include skills like "brokerage," "financial services," "insurance products," and "risk management."

In general, brokers make a higher salary in the insurance industry with an average of $129,664. The highest real estate broker annual salary stems from the finance industry.

The average resume of brokers showed that they earn similar levels of education to real estate brokers. So much so that the likelihood of them earning a Master's Degree is 2.0% less. Additionally, they're less likely to earn a Doctoral Degree by 1.1%.