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Career as Real Estate Broker

Career as a Real Estate Broker

About Real Estate Broker

A Real Estate Broker is a person who helps the sellers and home buyers navigate through the process of purchasing, selling and searching for real estate. He also works on arranging and negotiating real estate deals. A Real Estate Broker has some daily duties comprising overseeing transactions for purchasing and selling activities of real estate, writing contracts and browsing new properties. The level of Real Estate Broker is higher than the real estate agents and he can hire a team of real estate professionals to work under his supervision.

A Real Estate Broker can work as either the seller or buyer in the transaction. Seller’s Broker helps the clients to find out a qualified buyer as per the demand of client while the Buyer’s Broker helps the clients to search for a property as per requirements and budget of the client. 

Responsibilities of a Real Estate Broker

Check some major responsibilities of a Real Estate Broker provided below.

  • Advertising properties through marketing techniques

  • Presenting purchase offers to the sellers

  • Resolving the doubts of the purchaser for a property

  • Generating and maintaining a list of properties for sale

  • Comparing properties to determine the market price of the property

  • Preparing documents such as purchase agreements, loyalty contracts and deeds

Eligibility to become Real Estate Broker

To become a Real Estate Broker, candidates will have to fulfil some eligibility requirements decided by the company. The eligibility criteria to become a Real Estate Broker is provided below. 

Education Required

  • Bachelor’s degree in real estate, business or any relevant field

  • Basic knowledge of MS Office

  • Some of the companies may hire a candidate who has completed 12th

  • Awareness of laws regulating the real estate industry

Work Experience

Work experience of 1-2 years is required

Certification

Candidates working independently should have a valid license to practice the profession of real estate broker

Skills

Some of the skills required for a Real Estate Broker are listed below.

  • Interpersonal skills

  • Problem-solving skills

  • Business skills

  • Organizational skills

  • Excellent communication skills

Courses to become a Real Estate Broker

You can check the table provided below to know all the courses required to become a Real Estate Broker. You can go through the table to know the average fee and top colleges offering courses in real estate. If you are interested in admission to any of these courses then you can fill our Common Application Form

Course

Total Fee (Approx)

Top Colleges for Real Estate Management

Bachelor of Business Administration

Rs. 27,000 to Rs. 8.00 lakh

BBA in Real Estate and Urban Infrastructure

Rs. 35,000 to Rs. 3.00 lakh

MBA in Real Estate Management

Rs. 50,000 to Rs. 7.60 lakh

Masters of Business Administration

Rs.15,000 to Rs. 25.00 lakh

Types of Job Roles Real Estate Broker

It is not difficult to become a Real Estate Broker. Any candidate who is interested in managing real estate activities and has a good knowledge of business principles may opt for a career as a Real Estate Broker. He can work either as a Seller’s Broker or Buyer’s Broker depending on the need. Apart from this, he can also apply for a job at any real estate company. There are many profiles available for Real Estate Brokers. Some of them are provided below.

  • Real Estate Consultant

  • Real Estate Sales Manager

  • Real Estate Agent

  • Loan Underwriter 

  • Commercial Broker

  • Mortgage Specialist

If you want to know more about Real Estate Brokers then you can ask questions at Collegedekho QnA zone

Employment Opportunities for Real Estate Broker

Real Estate Broker may either start his own business or apply for a job at any construction or real estate company. There are some Real Estate Brokers that have franchise agreements with regional or national real estate companies. Under this agreement, the broker shall pay a fee to be affiliated with a well recognized real estate company. More than 50% of Real Estate Brokers work independently. You can check more about the employment opportunities available for Real Estate Brokers from the graph provided below.

Employment Opportunities for Real Estate Broker

Top Recruiting Agencies for Real Estate Broker

Some of the major recruiting companies for Real Estate Broker are listed below.

  • DLF Ltd

  • Phoenix Mills Ltd

  • Indiabulls Real Estate Ltd

  • Brigade Enterprises Ltd

  • Prestige Estates Projects Ltd

  • NBCC India Ltd

  • Oberoi Realty Ltd

  • Godrej Properties Ltd

Planning to choose Real Estate Broker as your career?

Pay Scale/Salary of Real Estate Broker

  • The average salary of a Real Estate Broker is not fixed. It will depend on his experience and skills.

  • Candidates who have work experience of 1-2 years can earn up to 4 lakh per annum

Profile

Starting Salary per annum (in INR)

Mid Level Salary per annum (in INR)

Senior Level Salary per annum (INR)

Real Estate Broker

3,00,000

5,09,000

9,50,000

Salary of Real Estate Broker

 

Books & Study Material to Become Real Estate Broker

Provided below are some recommended books for Real Estate Brokers

  • The Millionaire Real Estate Investor by Gary Keller, Dave Jenks, Jay Papasan

  • How To Win Friends And Influence People by Dale Carnegie

  • Mastering the Art of Selling Real Estate by Tom Hopkins

  • The Book on Investing In Real Estate by Brandon Turner

  • Real Book of Real Estate by Robert T Kiyosaki

Pros of becoming a Real Estate Broker

  • Since the salary of a Real Estate Broker is not fixed there is an unlimited scope of growth

  • You do not have to follow 9 to 6 working schedule

  • You will help people to accomplish their dreams and goals

  • This profile does not require any higher education

Cons of becoming a Real Estate Broker

  • You should have a good of market value of the real estate

  • You may face difficulties in the initial stages of your career

  • You need a license to practice the profession of real estate broker

  • Good communication skills and problem-solving skills are required for this profession

Paths for Being Real Estate Broker

FAQs about Real Estate Broker

What are some of the best books for a Real Estate Broker?

There are many books available for a Real Estate Broker. Some of them are How To Win Friends And Influence People by Dale Carnegie and Mastering the Art of Selling Real Estate by Tom Hopkins.

What are the courses to become a Real Estate Broker?

Some of the courses to become a Real Estate Broker are BBA in Real Estate and Urban Infrastructure, MBA in Real Estate Management and Bachelor of Business Administration.

What is the best thing about being a Real Estate Broker?

Career as a Real Estate Broker does not require any higher degree. You can start your career as a Real Estate Agent and then you can advance to higher positions.

Who are the major recruiters for Real Estate Broker?

Some of the major recruiters for Real Estate Broker are Phoenix Mills Ltd, Indiabulls Real Estate Ltd, Brigade Enterprises Ltd and Prestige Estates Projects Ltd.

What is the average salary of a Real Estate Broker?

Real Estate Broker who has a work experience of 1-2 years can earn up to 4 lakh per annum.

Do I need a degree to become a Real Estate Broker?

No, if you are starting your own business then you do not require a degree. However, if you are applying for a job at a real estate company then you should have completed a bachelor's degree in real estate.

What other job profiles are available for Real Estate Broker?

Some of the other job profiles available for a Real Estate Broker are Real Estate Sales Manager, Real Estate Agent and Loan Underwriter.

What skills are required for Real Estate Broker?

You should have good communication skills, analytical skills and problem-solving skills to become a Real Estate Broker.

How to Become a Real Estate Broker?

You should have a license for a career as a Real Estate Broker. Besides this, some of the companies also ask for a bachelor's degree in real estate for this profession.

Who is a Real Estate Broker?

Real Estate Broker is a person who represents buyers or sellers of real estate. Besides this, he also manages other operations such as preparing agreements, finding customers as per the demand of sellers and training real estate agents.

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