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The differences between realtors and brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a broker has an average salary of $124,861, which is higher than the $38,290 average annual salary of a realtor.
The top three skills for a realtor include residential real estate, open houses and purchase agreements. The most important skills for a broker are brokerage, financial services, and insurance products.
| Realtor | Broker | |
| Yearly salary | $38,290 | $124,861 |
| Hourly rate | $18.41 | $60.03 |
| Growth rate | 5% | 5% |
| Number of jobs | 7,482 | 2,770 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 66% |
| Average age | 49 | 49 |
| Years of experience | - | - |
A realtor is responsible for processing real estate transactions and assisting clients with their concerns and inquiries about a specific property. A realtor should always work for their clients' best interests, ensuring that proposals work within the client's specified budget and property goals. A realtor will also consider the security of a property location before a recommendation to ensure the client's safety and comfort. Realtors must finalize records of cost estimates and purchase agreements, which are essential in choosing the best property.
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.
Realtors and brokers have different pay scales, as shown below.
| Realtor | Broker | |
| Average salary | $38,290 | $124,861 |
| Salary range | Between $27,000 And $53,000 | Between $68,000 And $227,000 |
| Highest paying City | San Antonio, TX | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | Berkshire Hathaway Homeservices Alliance Real Estate | Child Guidance & Family Solutions |
| Best paying industry | Real Estate | Insurance |
There are a few differences between a realtor and a broker in terms of educational background:
| Realtor | Broker | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | - | University of Southern California |
Here are the differences between realtors' and brokers' demographics:
| Realtor | Broker | |
| Average age | 49 | 49 |
| Gender ratio | Male, 40.2% Female, 59.8% | Male, 63.8% Female, 36.2% |
| Race ratio | Black or African American, 5.3% Unknown, 4.3% Hispanic or Latino, 13.3% Asian, 6.9% White, 69.8% American Indian and Alaska Native, 0.3% | Black or African American, 5.3% Unknown, 4.3% Hispanic or Latino, 13.2% Asian, 6.9% White, 70.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 13% | 13% |