CompGeo Salary Survey Benchmark Job Summary and Competencies

Brokers, Real Estate

The Benchmark Job Description below represents the specific Position Characteristics of the job used in the Salary Survey. Benchmark Job Descriptions should be inspected carefully to review the degree of matching between an organizations' Job and the Salary Survey Benchmark. Matching internal Jobs to Salary Survey Benchmark Jobs should not be done on Job Title alone. A thorough comparison of Salary Survey Benchmark to Internal Job Descriptions is recommended. A good overlap should exist on any comparisons used on critical Job Dimensions and Competencies.
 
CompGeo Occupation Group: Finance
Job Family: Real Estate
Benchmark Title: Brokers, Real Estate
 
Summary Job Description Tasks
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. 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.
 
Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of the area where a property is located.
 
Manage or operate real estate offices, handling associated business details.
 
Supervise agents who handle real estate transactions.
 
Rent properties or manage rental properties.
 
Arrange for title searches of properties being sold.
 
Give buyers virtual tours of properties in which they are interested, using computers.
 
Review property details to ensure that environmental regulations are met.
 
Develop, sell, or lease property used for industry or manufacturing.
 
Maintain working knowledge of various factors that determine a farm's capacity to produce, such as agricultural variables and proximity to market centers and transportation facilities.
 
 
CompGeo Occupation Group: Finance
Job Family: Real Estate
Benchmark Title: Brokers, Real Estate
 
Important Knowledge Competencies Competency Description
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.
 
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.
 
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.
 
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.
 
Mathematics Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
 
Law and Government Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
 
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.
 
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.
 
Personnel and Human Resources Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
 
Public Safety and Security Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
 
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.
 
 
CompGeo Occupation Group: Finance
Job Family: Real Estate
Benchmark Title: Brokers, Real Estate
 
Important Skill Competencies Competency Description
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.
 
Reading Comprehension Understanding written sentences and paragraphs in work related documents.
 
Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
 
Social Perceptiveness Being aware of others' reactions and understanding why they react as they do.
 
Persuasion Persuading others to change their minds or behavior.
 
Judgment and Decision Making Considering the relative costs and benefits of potential actions to choose the most appropriate one.
 
Writing Communicating effectively in writing as appropriate for the needs of the audience.
 
Monitoring Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
 
Coordination Adjusting actions in relation to others' actions.
 
Negotiation Bringing others together and trying to reconcile differences.
 
Service Orientation Actively looking for ways to help people.
 
Time Management Managing one's own time and the time of others.
 
Active Learning Understanding the implications of new information for both current and future problem-solving and decision-making.
 
Complex Problem Solving Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
 
Quality Control Analysis Conducting tests and inspections of products, services, or processes to evaluate quality or performance.
 
 
CompGeo Occupation Group: Finance
Job Family: Real Estate
Benchmark Title: Brokers, Real Estate
 
Important Ability Competencies Competency Description
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).
 
Information Ordering The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
 
 
CompGeo Occupation Group: Finance
Job Family: Real Estate
Benchmark Title: Brokers, Real Estate
 
Tools/Technology Example Product Category
AMTdirect Data base user interface and query software
 
Adobe Systems Adobe Photoshop software Graphics or photo imaging software
 
AppFolio Property Manager Data base user interface and query software
 
Customer relationship management CRM software Customer relationship management CRM software
 
Deep Forest Systems OnCite Data base user interface and query software
 
Domin-8 Enterprise Solutions Tenant Pro Data base user interface and query software
 
Enterprise Software Systems CRE Sync Data base user interface and query software
 
First American CoreLogic RealQuest Pro Data base user interface and query software
 
Google Earth Pro Map creation software
 
Intuit QuickBooks software Accounting software
 
Lease Cost Solutions LseMod Data base user interface and query software
 
London Computer Systems Rent Manager Data base user interface and query software
 
Microsoft Excel Spreadsheet software
 
Microsoft Internet Explorer Internet browser software
 
Microsoft Office software Office suite software
 
Microsoft Outlook Electronic mail software
 
Microsoft PowerPoint Presentation software
 
Microsoft Word Word processing software
 
Property Boulevard Data base user interface and query software
 
Property records databases Data base user interface and query software
 
PropertyBoss Solutions PropertyBoss Data base user interface and query software
 
Propertyware Data base user interface and query software
 
Real Estate Assistant REA Customer relationship management CRM software
 
Real estate listing databases Data base user interface and query software
 
RealData REIA Analytical or scientific software
 
Showing Suite Data base user interface and query software
 
Visual Lease Data base user interface and query software
 
Web browser software Internet browser software
 
Yardi Systems Yardi Voyager Commercial Data base user interface and query software
 
Calculators Calculators or accessories
 
Computer laser printers Laser printers
 
Desktop computers Desktop computers
 
Digital cameras Digital cameras
 
Digital video cameras Digital camcorders or video cameras
 
Fax machines Facsimile machines
 
Laptop computers Notebook computers
 
Measuring tapes Tape measures
 
Passenger vehicles Automobiles or cars
 
Personal computers Personal computers
 
Personal digital assistants PDA Personal digital assistant PDAs or organizers
 
Photocopying equipment Photocopiers
 
 
CompGeo Occupation Group: Finance
Job Family: Real Estate
Benchmark Title: Brokers, Real Estate
 
Prerequisite Qualification Category Education and Experience Level
Required Level of Education Some College Courses
 
On-Site or In-Plant Training Over 3 months, up to and including 6 months
 
On-the-Job Training Over 6 months, up to and including 1 year
 
Related Work Experience None
 
Required Level of Education Bachelor's Degree
 
 
CompGeo Occupation Group: Finance
Job Family: Real Estate
Benchmark Title: Brokers, Real Estate
 
Alternate Job Title(s)
Associate Broker
Broker
Broker Associate
Buyer Broker
Closing Agent
Dealer
Licensed Real Estate Broker
Office Administrator
Office Manager
Real Eastate Sales Associate
Real Estate Agent
Real Estate Associate
Real Estate Broker
Real Estate Closer
Real Estate Salesperson
Realtor
Sales Agent
 
CompGeo Occupation Group: Finance
Job Family: Real Estate
Benchmark Title: Brokers, Real Estate
 
 
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