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* ELMI Occupation Report *
 
Real Estate Brokers

Operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.   (O'Net 41-9021.00)

 
Reported job titles:   Broker, Broker Assistant, Broker Associate, Buyer Broker, Closing Agent, Contract Specialist, Dealer, Designated Broker, Lease Administration Analyst, Lease Analyst, Licensed Real Estate Broker, Managing Broker, Real Estate Associate, Real Estate Broker, Real Estate Closer, Real Estate Sales Associate, Real Estate Salesperson, Realtor, Realty Loan Specialist, Realty Specialist, Supervising Broker
 
  • Career Video
  • Wages
  • Employment Trends
  • Industries of Employment
  • Tasks
  • Knowledge
  • Skills
  • Abilities
  • Work Activities
  • Interests
  • Work Styles
  • License Information
  • Education & Training Requirements
  • Schools
  • Other Resources
  • Related Occupations
  •  


    Career Video
    related to Real Estate Brokers
    Real Estate Brokers photo Real Estate Brokers
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    Additional videos and more information available at
     


    Wages
    for Real Estate Brokers
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     Location Pay
    Period
    2016
    Percentile Wages Average
    Wage
    10% 25% 50%
    Median
    75% 90%
     Southern Vermont Balance of State Hourly $ 9.60   $ 11.93   $ 22.83   $ 27.69   $ 30.38   $ 20.98  
    Yearly $19,980   $24,820   $47,480   $57,590   $63,180   $43,630  
     
     Northern Vermont Balance of State Hourly $ 9.60   $ 9.61   $ 12.61   $ 26.06   $ 29.20   $ 16.13  
    Yearly $19,970   $19,980   $26,240   $54,200   $60,730   $33,560  
     
    What are Percentile Wages?
    source: Occupational Employment Statistics, Vermont Labor Market Information, U.S. Bureau of Labor Statistics, released April 2017.
     


    Employment Trends
    for Real Estate Brokers
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    Location Employment Annual % change
    (compounded)
    Annual job openings
    (due to growth and
    net replacements)
    2014 2024
    Vermont 281 293 0.4% 3
    source: Employment Projections, Vermont Economic & Labor Market Information, in cooperation with U.S. Bureau of Labor Statistics, statewide estimates released July 2016.
     


    Industries of Employment
    for Real Estate Brokers
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    Industry Percent of Total
    2014
    Self-employed workers, all industries 53.1%
    Real estate 40.9%
    Credit intermediation and related activities 1.0%
    Heavy and civil engineering construction 0.5%
    Management of companies and enterprises 0.5%
    source: Employment Projections, U.S. Bureau of Labor Statistics, National Employment Matrix, released July 2016.
     


    Tasks
    for Real Estate Brokers
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  • Sell, for a fee, real estate owned by others.
     
  • Obtain agreements from property owners to place properties for sale with real estate firms.
     
  • Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
     
  • Compare a property with similar properties that have recently sold to determine its competitive market price.
     
  • Act as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.
     
  • Generate lists of properties for sale, their locations, descriptions, and available financing options, using computers.
     
  • Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.
     
  • Check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.
     
  • Arrange for financing of property purchases.
     
  • Appraise property values, assessing income potential when relevant.
     
    source: Occupational Information Network: Real Estate Brokers  updated December 2004
     


    Knowledge
    for Real Estate Brokers
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  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
     
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
     
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
     
  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
     
  • Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
     
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
     
  • Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
     
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
     
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
     
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
     
    source: Occupational Information Network: Real Estate Brokers  updated December 2004
     


    Skills
    for Real Estate Brokers
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  • Speaking - Talking to others to convey information effectively.
     
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
     
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
     
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
     
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
     
  • Persuasion - Persuading others to change their minds or behavior.
     
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
     
  • Coordination - Adjusting actions in relation to others' actions.
     
  • Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
     
  • Negotiation - Bringing others together and trying to reconcile differences.
     
    source: Occupational Information Network: Real Estate Brokers  updated June 2010
     


    Abilities
    for Real Estate Brokers
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  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
     
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
     
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
     
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
     
  • Speech Recognition - The ability to identify and understand the speech of another person.
     
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
     
  • Speech Clarity - The ability to speak clearly so others can understand you.
     
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
     
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
     
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
     
    source: Occupational Information Network: Real Estate Brokers  updated December 2004
     


    Work Activities
    for Real Estate Brokers
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  • Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
     
  • Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
     
  • Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
     
  • Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
     
  • Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
     
  • Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
     
  • Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
     
  • Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
     
  • Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
     
  • Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
     
    source: Occupational Information Network: Real Estate Brokers  updated December 2004
     


    Interests
    for Real Estate Brokers
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  • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
     
  • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
     
    source: Occupational Information Network: Real Estate Brokers  updated June 2008
     


    Work Styles
    for Real Estate Brokers
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  • Integrity - Job requires being honest and ethical.
     
  • Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
     
  • Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
     
  • Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
     
  • Initiative - Job requires a willingness to take on responsibilities and challenges.
     
  • Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
     
  • Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
     
  • Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
     
  • Persistence - Job requires persistence in the face of obstacles.
     
  • Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
     
    source: Occupational Information Network: Real Estate Brokers  updated December 2004
     


    State of Vermont License Information
    that may be required for Real Estate Brokers
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    License Name Licensing Agency
    Real Estate Broker Vermont Secretary of State
    Office of Professional Regulation
    Real Estate Commission
     
    source: Vermont Department of Labor, Licensed & Certified Occupations in Vermont, 2015.
     


    Education and Training Requirements
    for Real Estate Brokers
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  • Job Zone Three: Medium Preparation Needed
  •  
  • Education: Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.
  •  
  • Training: Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.
  •  
  • Experience: Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.
  •  
    source: Occupational Information Network: Real Estate Brokers  updated December 2004
     


    Schools
    offering instructional programs related to Real Estate Brokers
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      Related Instructional Programs
     
    • Real Estate Development. (NEW)
     
    • Real Estate.
     
     Search for schools offering these programs at
     
     
     
    source: National Center for Education Statistics 2000 Classification of Instructional Programs .
     


    Other Resources
    for Real Estate Brokers
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  • Labor Exchange Information
  • A source for occupational characteristics, such as age, gender, race, and years of education and an alternative source for occupational wage rates. Limited to people looking for jobs and the jobs advertised through VDOL Vermont Job Link.
  • Look for statewide information over the latest 12 months for Real Estate Brokers.
  •  
  • Occupational Outlook Handbook
  • The Occupational Outlook Handbook is a nationally recognized source of career information, designed to provide valuable assistance to individuals making decisions about their future work lives. Revised every two years, the Handbook describes what workers do on the job, working conditions, the training and education needed, earnings, and expected job prospects in a wide range of occupations.
    Go to Occupational Outlook Handbook
    Handbook occupations related to Real Estate Brokers :
  • Real Estate Brokers and Sales Agents
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    Related Occupations
    Occupations with skill requirements similar to Real Estate Brokers
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  • Advertising Sales Agents
  •  
  • Assessors
  •  
  • Customs Brokers
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  • Insurance Sales Agents
  •  
  • Loan Officers
  •  
  • Municipal Clerks
  •  
  • Property, Real Estate, and Community Association Managers
  •  
  • Real Estate Sales Agents
  •  
  • Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products
  •  
    source: Occupational Information Network: Real Estate Brokers 
     

     
     
     
    Vermont.gov State of Vermont Department of Labor