Real Estate Broker Job Description Example
What Does a Real Estate Broker Do?
Real estate brokers act as an intermediary between property buyers and sellers.
Their job description entails assisting clients secure or market real estate.
It also involves assisting clients in promoting their properties via strategic channels to draw prospective buyers.
Real estate brokers provide advice and recommendations to clients on ways to improve the appearance of a property in order to attract generous offers.
They also conduct interviews and assessment to identify client requirements/financial eligibility for estate trade.
Their role entails reaching out to potential sellers to obtain property information useful in developing property listings.
They conduct research on recent property purchases to determine the estimate price and value of available properties.
They also present clients with a list of properties that match their real estate requirements and assist them in making proper choice.
Usually, brokers of real estate take prospective buyers or renters to survey a property. They present purchase offers to sellers for their approval or objection.
They also mediate between buyers and sellers to reach agreeable price/terms of sale for both parties.
As part of their duties, real estate brokers maintain an up-to-date knowledge of housing laws, real estate law, mortgage types, and government housing programs.
They review documents drafted by loan officers, attorneys, and home inspectors to ensure they are accurate and in line with purchase agreement.
They are also responsible for preparing and ensuring proper signing of loyalty contracts, purchase agreements, and deeds.
In fulfilling their role, estate brokers advise clients on current market conditions, property prices, and mortgages.
They respond to client inquiries and questions on zoning, school district and expansion.
Their work description also involves participating in educational programs, studying professional publications, and exchanging ideas with other professionals in the real estate industry to maintain job knowledge and stay up-to-date with trends.
To become a broker in the real estate sector basically requires a high school diploma, although a degree in business studies, property, or architecture is helpful.
To succeed in this career, major qualities you have to develop include people skills; business, and organizational skills.
Real Estate Broker Job Description Example/Template
Working as a real estate broker involves performing the tasks, duties, and responsibilities shown in the job description example below:
- Supervise and direct the operations of real estate agents who handle real estate trade
- Initiate title searches to confirm clients have clear ownership of property
- Utilize IT software and systems to provide clients with a virtual tour of property
- Oversee the renovation and lease of industrial or manufacturing sites
- Conduct review of property details to ensure compliance with environmental policies
- Carry out surveys to identify and compile the description and location of properties available for sale
- Present to property sellers purchase offers for approval or decline
- Secure contracts to put properties up for sale with real estate companies
- Compare a property with other recently sold properties to determine it’s estimated market value
- Proffer recommendations to sellers on how best to market a property in order to attract generous offers
- Evaluate client requirements to provide real estate solutions that’ll meet their needs within stipulated budget
- Conduct price negotiations between buyers and sellers to achieve a profitable bargain
- Prepare and ensure all relevant property documents are appropriately signed
- Maintain an up-to-date knowledge of local zoning laws, building laws and current income tax regulation
- Oversee the management and operations of a real estate office and its business.
Requirements – Skills, Abilities, and Knowledge – for Real Estate Broker Role
If you are looking to work as a broker in the real estate industry, the following qualifications are commonly required by most firms when hiring a new broker:
- Education and Training: To become a real estate broker, you require a minimum of high school diploma although having a degree in disciplines such as property management, architecture, or business studies provides an added advantage. Practicing as a broker also requires state licensing and it is obtainable through successful completion of licensing courses
- People Skills: Real estate brokers are able to work with property sellers, property buyers, home inspectors, real estate agents, lawyers, and other stakeholders in the industry
- Business Skills: They are well versed in conducting real estate deals to maximize profits and meet the expectation of clients
- Organizational Skills: They are adept at coordinating and managing their workload to ensure operational efficiency.
The job description sample provided in this post can be applied as a template in creating a suitable work description to guide the work activities of real estate brokers in your firm.
Job seekers who are applying for the position can also find this post useful in learning about what real estate brokers do, and so develop the skills and qualities needed to succeed in the career.
Did this post increase your knowledge of the duties and responsibilities of real estate brokers? Please leave a comment in the box below. You may also share what you do at work if you are a broker of real estate.