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Real estate broker: pay, job outlook and how to become one

Updated October 26, 2026. Based on U.S. Bureau of Labor Statistics and O*NET data. Published by Humblebee.

$73,220median pay per year, or $35.20 an hour, May 2025[1]
  1. $37,110lowest 10% earn less
  2. $46,48025th percentile
  3. $73,220median
  4. $103,36075th percentile
  5. $143,300top 10% earn more
Middle half of workers in the inner band[3]Median for all US jobs, $50,980[2]

Real estate brokers working for wages had a median pay of $73,220 a year in May 2025, above the $50,980 median for all occupations[1][2]. Jobs are projected to grow slowly, and the path in runs through a state license.

Job growth, 2025–35
+0.8%[4]
Openings per year
7,800[5]
Typical entry education
High school diploma or equivalent[6]

How much do real estate brokers make?

The median wage for real estate brokers was $73,220 a year, or $35.20 an hour[1]. Half earned more and half earned less. The average was higher, at $83,950 a year or $40.36 an hour[7]. For comparison, the median for all occupations was $50,980[2].

Pay varies a lot from one broker to the next. The lowest-paid 10% earned less than $37,110 a year, and the highest-paid 10% earned more than $143,300[3].

Measure Annual Hourly
Lowest-paid 10% earned less than[3][8] $37,110 $17.84
25th percentile[3][8] $46,480 $22.35
Median[1] $73,220 $35.20
75th percentile[3][8] $103,360 $49.69
Highest-paid 10% earned more than[3][8] $143,300 $68.89

A percentile is a boundary, and BLS publishes percentile wages, not a starting salary[9]. These figures cover wage and salary workers only. They leave out the self-employed and do not count nonproduction bonuses or benefits[10]. That matters here, because 54.9% of real estate brokers were self-employed in 2025[11].

Pay by state and city

Among the 36 states with published data, New Jersey had the highest median at $111,390, followed by Connecticut at $105,800 and Utah at $92,830[12]. Minnesota had the lowest published median at $39,850[12]. Some state figures rest on small job counts, so read them as rough guides.

California had the most jobs at 8,430, then Arizona with 3,790, Florida with 3,640, Colorado with 3,280 and Texas with 2,040[13].

Among metro areas with at least 100 jobs, Milwaukee-Waukesha, WI had the highest median at $168,320, followed by Charlotte-Concord-Gastonia, NC-SC at $95,320[14]. The New York-Newark-Jersey City area had the most jobs at 1,460, then Philadelphia-Camden-Wilmington with 990[15].

Show median pay in 36 states
StateMedian per yearJobs
New Jersey[12]$111,3901,290
Connecticut$105,800n/a
Utah$92,830n/a
Washington$82,790n/a
Alabama$82,630460
Michigan$82,5101,150
Maryland$81,550430
California$80,4508,430
New Mexico$80,340n/a
Colorado$79,9703,280
Virginia$77,2701,500
Vermont$76,92080
Indiana$75,000740
Hawaii$74,310160
Arizona$74,2603,790
Arkansas$73,800120
North Dakota$73,30080
Kansas$69,990290
Delaware$68,690100
Florida$66,0103,640
Alaska$65,820100
Ohio$64,510n/a
Texas$63,3902,040
Montana$63,240400
Oregon$63,0701,670
Illinois$62,540990
Missouri$62,2801,980
Tennessee$60,150540
West Virginia$58,960140
Idaho$57,660380
Maine$55,280n/a
North Carolina$52,8301,560
New Hampshire$51,490120
Iowa$50,140n/a
Mississippi$41,69060
Minnesota$39,850n/a

How to become a real estate broker

The profile BLS publishes for this job covers real estate brokers together with sales agents, so the training details below describe that wider group[16].

A college degree is typically not required, though the OOH notes that many brokers and agents hold a bachelor's degree[22]. Some states let a bachelor's degree stand in for part of the experience or training[20]. BLS lists less than 5 years of related work experience and no typical on-the-job training for brokers[6].

Licenses typically cannot be moved between states, though some states have agreements that ease the process[23]. They usually need renewal every 2 to 4 years, often with continuing education[24]. Check the rules with the licensing commission in your state[24]. The facts do not say how long the whole path takes.

What real estate brokers do

O*NET describes the job as running a real estate office or working for a commercial real estate firm and overseeing transactions. Brokers often sell or rent property and arrange loans too[25]. Typical tasks include:

Workers in O*NET report titles such as Managing Broker, Designated Broker and Commercial Real Estate Broker[27].

Where they work

A workplace can be a one-person business or a large firm that has many branch offices. Many brokers pay a fee to join a franchise with a well-known real estate company[28]. Work is typically based in an office, but brokers spend much of their time out showing and viewing properties and meeting clients[29].

Most brokers and agents are on full-time schedules, and some put in over 40 hours a week[30]. Evenings and weekends are common, and many can set their own schedules[30]. Some work part time[31]. The OOH lists self-employed workers as the largest group, at 55%[32].

Job outlook

BLS projects employment of real estate brokers to grow 0.8% from 2025 to 2035, from about 103,500 to 104,300 jobs, a gain of 800[4]. Employment across all occupations is projected to grow 3.5%[33]. These counts include the self-employed, so they are larger than the 46,100 wage and salary jobs in the wage survey[34][4].

About 7,800 openings a year are projected on average[5]. Openings come from workers who retire or switch occupations as well as from new jobs[5]. Each year, 4.2% of workers leave the labor force and 3.2% move to a different occupation[35].

Is it a good fit?

The entry bar is low on paper: a high school diploma, courses and a license exam[6][19]. Median pay sits well above the all-occupations median, but the gap between the lowest and highest earners is large[1][2][3]. More than half of brokers are self-employed, and the wage figures do not capture their earnings[11][10]. Job growth is slower than the average for all occupations[4][33]. Many openings come from people leaving the job rather than from new positions[5].

Related occupations from O*NET, with BLS median pay and projected growth[36].

Frequently asked questions

How much does a real estate broker make an hour?
The median was $35.20 an hour and the average was $40.36 in May 2025[1][7]. The lowest-paid 10% earned less than $17.84 and the highest-paid 10% earned more than $68.89[8].
What education do you need to be a real estate broker?
The typical entry education is a high school diploma or equivalent[6]. You also need real estate courses and a license exam[17].
What is the highest paying state for real estate brokers?
New Jersey had the highest median at $111,390, then Connecticut at $105,800 and Utah at $92,830[12].
Is real estate broker a growing job?
BLS projects 0.8% growth from 2025 to 2035, compared with 3.5% for all occupations[4][33]. About 7,800 openings a year are projected[5].

Facts and sources

  1. BLS OEWS, May 2025: the median wage for Real Estate Brokers in the US was $73,220 per year and $35.20 per hour. Half of workers earned more and half earned less. BLS OEWS, May 2025
  2. BLS OEWS, May 2025: the median annual wage for all occupations in the US was $50,980. BLS OEWS, May 2025
  3. BLS OEWS, May 2025, annual wage percentiles for Real Estate Brokers: 10th percentile $37,110, 25th percentile $46,480, 75th percentile $103,360, 90th percentile $143,300. The 10th percentile means 10% of workers earned less. BLS OEWS, May 2025
  4. BLS Employment Projections: employment of Real Estate Brokers is projected to grow 0.8% from 2025 to 2035, from about 103,500 to 104,300 jobs (a change of +800). These counts include self-employed workers. BLS Employment Projections
  5. BLS Employment Projections: about 7,800 openings for Real Estate Brokers are projected each year, on average, from 2025 to 2035. Openings include jobs that open when workers retire or move to other occupations, not only new jobs. BLS Employment Projections
  6. BLS Employment Projections, typical path into Real Estate Brokers: education needed for entry: High school diploma or equivalent; work experience in a related occupation: Less than 5 years; typical on-the-job training: None. BLS Employment Projections
  7. BLS OEWS, May 2025: the mean (average) wage for Real Estate Brokers was $83,950 per year and $40.36 per hour. BLS OEWS, May 2025
  8. BLS OEWS, May 2025, hourly wage percentiles for Real Estate Brokers: 10th percentile $17.84, 25th percentile $22.35, 75th percentile $49.69, 90th percentile $68.89. BLS OEWS, May 2025
  9. BLS OEWS FAQ: a percentile wage is a boundary. The median (50th percentile) separates the highest-paid 50% from the lowest-paid 50% of workers in the occupation. OEWS publishes percentile wages, not a starting salary. BLS OEWS, May 2025
  10. BLS OEWS FAQ: OEWS covers part-time and full-time workers paid a wage or salary. It does not cover the self-employed, owners and partners in unincorporated firms, household workers or unpaid family workers. OEWS wages do not include nonproduction bonuses or employer costs of benefits such as health insurance or retirement contributions. BLS OEWS, May 2025
  11. BLS Employment Projections: 54.9% of Real Estate Brokers were self-employed in 2025. BLS Employment Projections
  12. Median annual wage for Real Estate Brokers in every state with published data, May 2025 (table on this page). BLS OEWS, May 2025
  13. BLS OEWS, May 2025, states with the most Real Estate Brokers jobs: California 8,430; Arizona 3,790; Florida 3,640; Colorado 3,280; Texas 2,040. BLS OEWS, May 2025
  14. BLS OEWS, May 2025, metro areas with the highest median annual wage for Real Estate Brokers (areas with at least 100 jobs): Milwaukee-Waukesha, WI $168,320; Charlotte-Concord-Gastonia, NC-SC $95,320; Detroit-Warren-Dearborn, MI $85,600; Baltimore-Columbia-Towson, MD $81,550; Bend, OR $74,950; Evansville, IN $72,980; Urban Honolulu, HI $72,590; Miami-Fort Lauderdale-West Palm Beach, FL $71,460. BLS OEWS, May 2025
  15. BLS OEWS, May 2025, metro areas with the most Real Estate Brokers jobs: New York-Newark-Jersey City, NY-NJ 1,460; Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 990; Miami-Fort Lauderdale-West Palm Beach, FL 970 (median $71,460); Portland-Vancouver-Hillsboro, OR-WA 960 (median $63,070); Chicago-Naperville-Elgin, IL-IN 800 (median $67,320); Riverside-San Bernardino-Ontario, CA 760 (median $58,760). BLS OEWS, May 2025
  16. The BLS Occupational Outlook Handbook profile "Real Estate Brokers and Sales Agents" covers Real Estate Brokers together with other related occupations, so its text describes the wider group. BLS Occupational Outlook Handbook
  17. Occupational Outlook Handbook, How to Become One. BLS Occupational Outlook Handbook
  18. Occupational Outlook Handbook, How to Become One: Education. BLS Occupational Outlook Handbook
  19. Occupational Outlook Handbook, How to Become One: Licenses, Certifications, and Registrations. BLS Occupational Outlook Handbook
  20. Occupational Outlook Handbook, How to Become One: Licenses, Certifications, and Registrations. BLS Occupational Outlook Handbook
  21. Occupational Outlook Handbook, How to Become One: Work Experience in a Related Occupation. BLS Occupational Outlook Handbook
  22. Occupational Outlook Handbook, How to Become One: Education. BLS Occupational Outlook Handbook
  23. Occupational Outlook Handbook, How to Become One: Licenses, Certifications, and Registrations. BLS Occupational Outlook Handbook
  24. Occupational Outlook Handbook, How to Become One: Licenses, Certifications, and Registrations. BLS Occupational Outlook Handbook
  25. O*NET description of Real Estate Brokers. O*NET OnLine
  26. O*NET task list for Real Estate Brokers. O*NET OnLine
  27. O*NET 41-9021.00 sample job titles reported by workers: Broker, Broker Associate, Commercial Leasing Broker, Commercial Real Estate Advisor, Commercial Real Estate Broker, Designated Broker, Managing Broker, Real Estate Associate. O*NET OnLine
  28. Occupational Outlook Handbook, Work Environment. BLS Occupational Outlook Handbook
  29. Occupational Outlook Handbook, Work Environment. BLS Occupational Outlook Handbook
  30. Occupational Outlook Handbook, Work Environment: Work Schedules. BLS Occupational Outlook Handbook
  31. Occupational Outlook Handbook, Work Environment: Work Schedules. BLS Occupational Outlook Handbook
  32. BLS Occupational Outlook Handbook, largest employers of real estate brokers and sales agents in 2025: Self-employed workers 55%. BLS Occupational Outlook Handbook
  33. BLS Employment Projections: employment in all occupations is projected to grow 3.5% from 2025 to 2035. BLS Employment Projections
  34. BLS OEWS, May 2025: about 46,100 people were employed as Real Estate Brokers in the US (wage and salary jobs, not counting self-employed workers). BLS OEWS, May 2025
  35. BLS Employment Projections, 2025-35 annual average for Real Estate Brokers: 4.2% of workers leave the labor force each year and 3.2% move to a different occupation. BLS Employment Projections
  36. Related occupations (O*NET) with BLS pay, growth and entry education. O*NET OnLine

Notes are for reading the data only. They are not facts and cannot be cited: use the wage_scope and percentile_meaning facts instead. OEWS employment (jobs in May 2025) and Employment Projections employment (2025, includes self-employed) are different measures and can differ. O*NET education shares come from a small survey of workers in the occupation, not from all workers. The Occupational Outlook Handbook text covers a wider group of occupations than this page.

This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA. CareerFacts has modified all or some of this information. USDOL/ETA has not approved, endorsed, or tested these modifications.