Residential Real Estate Broker Job Description [Updated for 2025]

In the rapidly evolving housing market, the role of residential real estate brokers has never been more crucial.

The landscape of home buying and selling continues to change, and with each shift, the demand for knowledgeable professionals who can navigate, adapt, and secure the best deals in the market grows.

But let’s delve deeper: What’s truly expected from a residential real estate broker?

Whether you are:

• A job seeker trying to understand the core of this role,
• A hiring manager drafting the perfect candidate profile,
• Or simply curious about the ins and outs of real estate brokerage,

You’re in the right place.

Today, we present a customizable residential real estate broker job description template, designed for effortless posting on job boards or career sites.

Let’s get started.

Residential Real Estate Broker Duties and Responsibilities

Residential Real Estate Brokers are professionals who serve as an intermediary between sellers and buyers in real estate transactions.

They have an in-depth understanding of the real estate market, which includes knowledge about the area, current market trends, and the value of properties.

Their duties and responsibilities include:

• Assess and list properties for sale including homes, apartments, and plots
• Provide advice to clients on market conditions, prices, mortgages, and legal requirements
• Arrange meetings between buyers and sellers to negotiate the price of properties
• Prepare and administer real estate documents including deeds, leases, and purchase agreements
• Coordinate property closings, overseeing the signing of documents and disbursement of funds
• Promote sales of properties through advertisements, open houses, and participation in multiple listing services
• Work with property owners to find potential buyers and introduce them to the property
• 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
• Stay informed about real estate laws, local economies, types of available mortgages, financing options, and property values

 

Residential Real Estate Broker Job Description Template

Job Brief

We are seeking a driven and personable Residential Real Estate Broker to join our team.

The successful candidate will be responsible for buying and selling property for our real estate business.

You will be tasked with growing our customer base by generating leads, counseling clients on market conditions, and guiding them through the process of buying and selling property.

 

Responsibilities

• Generate client leads to buy, sell, and rent a property.
• Counsel clients on market conditions, prices, and mortgages.
• Develop a competitive market price by comparing properties.
• Create lists for real estate sale properties, with information location, features, square footage, etc.
• Show properties to potential buyers and renters.
• Present purchase offers to sellers for consideration.
• Facilitate negotiations between buyers and sellers.
• Review property listings, trade journals, and relevant literature, and attend conventions, seminars, and staff and association meetings to remain knowledgeable about real estate markets.
• Coordinate property closings, overseeing the signing of documents and disbursement of funds.

 

Qualifications

• Proven working experience as a real estate broker
• Proven track of successful sales record
• Ability to work independently with little supervision
• Strong sales, negotiation, and communication skills
• Pleasant and trustworthy
• MS Office familiarity
• Real estate agent’s or broker’s licence

 

Benefits

• Commission-based income
• Flexible work hours
• Potential for high earning
• Networking opportunities

 

Additional Information

• Job Title: Residential Real Estate Broker
• Work Environment: Office setting with frequent travel for property viewings and client meetings.
• Reporting Structure: Reports to the Brokerage Owner or Real Estate Manager.
• Salary: Salary is commission-based and depends on the number and value of the properties sold or rented.
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Residential Real Estate Broker Do?

A Residential Real Estate Broker, also referred to as a real estate agent, primarily assists clients in buying, selling, or renting residential properties.

They evaluate the clients’ needs and financial abilities to propose solutions that suit their criteria.

This could involve advising clients on market conditions, prices, mortgages, legal requirements, and related matters.

These brokers often negotiate and prepare contracts, purchase agreements, rental agreements, deeds, and other documents on behalf of the buyers or sellers.

Their role also includes promoting sales or rental properties through advertisements, open houses, and listing services.

They also coordinate property closings, overseeing the signing of documents and disbursement of funds.

In addition, a Residential Real Estate Broker often conducts comparative market analysis to estimate the property’s value.

They work collaboratively with loan officers, attorneys, and other stakeholders involved in the property transaction.

They also guide clients through the process of property visits, inspections, and manage any issues that arise during the transaction.

Many brokers also provide guidance to sellers on how to make their homes more appealing to potential buyers.

 

Residential Real Estate Broker Qualifications and Skills

A competent Residential Real Estate Broker should have a variety of skills and qualifications that will ensure they can effectively carry out their role, including:

• Knowledge of local real estate market to provide clients with accurate, up-to-date information on pricing, availability, and market trends.
• Strong communication and interpersonal skills to build and maintain relationships with clients, negotiate deals, and interact with various stakeholders.
• Customer service skills to understand and cater to the unique needs and preferences of each client, ensuring their satisfaction and fostering long-term relationships.
• Negotiation skills to secure the best possible deal for clients, whether they are buying, selling, or renting residential properties.
• Organizational skills to manage multiple listings, appointments, and paperwork efficiently and effectively.
• Problem-solving skills to navigate the various challenges and issues that can arise during real estate transactions.
• Ability to stay updated on legal and ethical issues related to real estate transactions, ensuring that all deals adhere to local and national laws.
• Financial aptitude to advise clients on home loans, financing options, and market conditions.

 

Residential Real Estate Broker Experience Requirements

Residential Real Estate Brokers must complete a pre-licensing course before passing a state licensing exam.

This course provides essential knowledge about property ownership, real estate law, contracts, and other relevant topics.

Entry-level Residential Real Estate Brokers typically have 1 to 2 years of experience, often gained through internships or part-time roles in real estate agencies.

The early stage of their career is primarily devoted to understanding the local housing market and building a network of contacts.

Candidates with 3 to 5 years of experience may have handled complex real estate transactions, worked with several clients, and gained proficiency in negotiation, communication, and customer service.

They are usually confident in handling residential property listings, conducting open houses, and finalizing transactions independently.

Those with more than 5 years of experience often have extensive knowledge of the local property market and a track record of successful sales.

They may have also developed their leadership skills and are suitable for managing a team of real estate agents or running their own brokerage office.

In addition to work experience, Residential Real Estate Brokers need ongoing training and education to stay up-to-date with changes in laws and regulations.

They also benefit from joining professional organizations, attending industry events, and earning advanced certifications to enhance their credentials.

 

Residential Real Estate Broker Education and Training Requirements

Residential Real Estate Brokers must have at least a high school diploma, although many brokers have a bachelor’s degree in real estate, finance, business administration, or a related field.

It is mandatory for prospective brokers to complete a state-approved real estate prelicensing course which can range from 60 to 150 hours, depending on the state’s regulations.

Following the completion of the prelicensing course, they are required to pass the real estate licensing exam of the state where they plan to work.

The exam covers topics such as real estate laws, regulations, ethics, and contract preparations.

Most states require brokers to work as real estate agents for a certain amount of time (typically 1-3 years) before they can apply for a broker’s license.

Brokers must also complete a specified number of hours of continuing education to maintain their licensure.

This is to ensure that they stay updated with changes in laws and regulations.

Additional certifications or designations in areas such as residential real estate, property management, commercial investments, or luxury home marketing can provide an edge in the competitive real estate market.

These qualifications demonstrate a commitment to further education and professionalism in the field.

 

Residential Real Estate Broker Salary Expectations

A Residential Real Estate Broker makes an average salary of $79,340 (USD) per year.

However, this figure can fluctuate based on the broker’s experience, location, and the housing market conditions.

In many cases, brokers earn a percentage of the sales they close, so the earning potential can be higher in more expensive housing markets or with higher sales volumes.

 

Residential Real Estate Broker Job Description FAQs

What skills does a Residential Real Estate Broker need?

Residential Real Estate Brokers should have excellent negotiation and communication skills.

They must also be organized and detail-oriented, as they are often responsible for managing multiple property listings at once.

Additionally, a strong understanding of the local real estate market and the ability to evaluate property values are crucial for success in this role.

 

Do Residential Real Estate Brokers need a degree?

A degree is not always required to become a Residential Real Estate Broker, but they must be licensed to operate.

This typically involves completing pre-licensing courses and passing a state licensing exam.

However, many brokers do have degrees in fields like business, finance, or real estate, which can be beneficial in understanding the market and property laws.

 

What should you look for in a Residential Real Estate Broker’s resume?

Besides licensing information, look for experience in buying, selling, and negotiating property deals in the broker’s resume.

Any additional certifications related to real estate can also be a plus.

Also, pay attention to their track record of sales, customer service skills, and knowledge of local real estate market trends.

 

What qualities make a good Residential Real Estate Broker?

A good Residential Real Estate Broker is proactive, has excellent customer service skills, and is able to build and maintain strong relationships with clients.

They should have a deep understanding of the local real estate market and be able to accurately price properties.

Moreover, they must be trustworthy, as they are often handling significant financial transactions on behalf of their clients.

 

Is it challenging to hire a Residential Real Estate Broker?

Hiring a Residential Real Estate Broker can be challenging due to the specialized skills and licensing requirements needed for the role.

Additionally, because they often work on commission, they may be more attracted to brokerages that offer high-value properties or a large volume of clients.

Therefore, offering a competitive commission structure and a supportive work environment can help attract top talent.

 

Conclusion

There you have it.

Today, we’ve unlocked the doors to what it truly means to be a residential real estate broker.

And guess what?

It’s not just about selling houses.

It’s about building dreams, one home at a time.

With our detailed residential real estate broker job description template and practical examples, you’re all prepared to take the next step.

But why limit yourself?

Dig deeper with our job description generator. It’s your key to crafting precise job listings or refining your resume to excellence.

Remember:

Every home sold is a step towards someone’s dream.

Let’s construct those dreams. Together.

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