Real Estate Broker

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 reports this occupation under titles such as: Broker; Broker Associate; Commercial Leasing Broker; Commercial Real Estate Advisor; Commercial Real Estate Broker; Designated Broker; Managing Broker; Real Estate Associate; Real Estate Sales Associate; Realtor

Tasks

• Obtain agreements from property owners to place properties for sale with real estate firms.
• Sell, for a fee, real estate owned by others.
• 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.
• Rent properties or manage rental properties.
• Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
• Check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.
• Appraise property values, assessing income potential when relevant.
• Arrange for financing of property purchases.
• Review property details to ensure that environmental regulations are met.
• Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of a property's area.
• Give buyers virtual tours of properties in which they are interested, using computers.
• Arrange for title searches of properties being sold.

Knowledge

• Sales and Marketing
• English Language
• Economics and Accounting
• Customer and Personal Service
• Administration and Management
• Mathematics
• Administrative
• Law and Government
• Psychology
• Building and Construction
• Communications and Media

Skills

• Reading Comprehension
• Active Listening
• Speaking
• Active Learning
• Critical Thinking
• Writing
• Mathematics
• Monitoring

Abilities

• Oral Comprehension
• Written Comprehension
• Oral Expression
• Speech Clarity
• Written Expression
• Deductive Reasoning
• Speech Recognition
• Problem Sensitivity
• Near Vision
• Inductive Reasoning
• Information Ordering
• Mathematical Reasoning