Real Estate Brokers
SOC Code: 41-9021 Job Zone 4: Considerable Preparation Needed
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.
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Prevailing Wage Levels (National)
DOL/OFLC prevailing wage thresholds for Real Estate Brokers. Hourly rates x 2,080 = annual.
FY2027 Weighted Lottery Impact
| Level | Lottery Entries | Est. Selection Rate |
|---|---|---|
| Level I (Entry) | 1 entry | ~16% |
| Level II (Qualified) | 2 entries | ~31% |
| Level III (Experienced) | 3 entries | ~45% |
| Level IV (Expert) | 4 entries | ~61% |
Prevailing Wages by Metro Area
| Metro Area | Level I | Level II | Level III | Level IV |
|---|---|---|---|---|
| North Coast Region of California nonmetropolitan area | $56,347 | $102,731 | $149,094 | $195,478 |
| Napa, CA | $54,475 | $100,963 | $147,430 | $193,918 |
| Fresno, CA | $52,478 | $98,030 | $143,603 | $189,155 |
| Salinas, CA | $38,979 | $88,878 | $138,778 | $188,677 |
| Santa Cruz-Watsonville, CA | $52,229 | $96,450 | $140,691 | $184,912 |
| Merced, CA | $48,672 | $93,475 | $138,299 | $183,102 |
| San Jose-Sunnyvale-Santa Clara, CA | $48,318 | $92,456 | $136,614 | $180,752 |
| Yuba City, CA | $54,933 | $96,387 | $137,862 | $179,317 |
| Santa Rosa-Petaluma, CA | $51,314 | $93,662 | $135,990 | $178,339 |
| Charlotte-Concord-Gastonia, NC-SC | $45,198 | $88,088 | $130,998 | $173,888 |
Key Skills
| Skill | Importance | Level |
|---|---|---|
| Speaking | 4.0 | |
| Reading Comprehension | 3.9 | |
| Active Listening | 3.9 | |
| Critical Thinking | 3.9 | |
| Active Learning | 3.6 | |
| Negotiation | 3.6 | |
| Persuasion | 3.5 | |
| Judgment and Decision Making | 3.4 | |
| Social Perceptiveness | 3.4 | |
| Writing | 3.4 |
Knowledge Areas
| Knowledge | Importance |
|---|---|
| Sales and Marketing | 4.5 |
| Customer and Personal Service | 4.3 |
| English Language | 4.1 |
| Law and Government | 4.0 |
| Administration and Management | 3.9 |
| Economics and Accounting | 3.5 |
| Computers and Electronics | 3.4 |
| Mathematics | 3.3 |
Education Requirements
| Education Level | % of Workers |
|---|---|
| Bachelor's degree | 36.7% |
| Post-secondary certificate | 23.6% |
| High school diploma | 12.4% |
| First professional degree (MD, JD) | 8.6% |
| Master's degree | 8.6% |
| Associate's degree | 5.9% |
| Less than high school | 3.3% |
Typical Tasks
- 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.
Technology Skills
Green = Hot Technology in demand
Adobe Photoshop Facebook Intuit QuickBooks Microsoft Access Microsoft Active Server Pages ASP Microsoft Excel Microsoft Office software Microsoft Outlook Microsoft PowerPoint Microsoft Word Salesforce software Yardi software AMTdirect AppFolio Property Manager Customer relationship management CRM software
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