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Alabama Department of Labor

Labor Market Information Division
SOC: 41-9021 Real Estate Brokers
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.
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Education: Most of these occupations require a four-year bachelor's degree, but some do not.
OJT: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Tasks: Sell, for a fee, real estate owned by others. Obtain agreements from property owners to place properties for sale with real estate firms. 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. Manage or operate real estate offices, handling associated business details. Compare a property with similar properties that have recently sold to determine its competitive market price. Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs. Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner. Check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly. Rent properties or manage rental properties. Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of the area where a property is located. Arrange for title searches of properties being sold. Appraise property values, assessing income potential when relevant.
License: This applicant should submit a complete application, with appropriate fees, to the Board. Prior to completing the examination, applicants must complete a Board approved 60-clock hour pre-license course. Eligibility for qualified broker status is contingent upon completion of two (2) years as an active licensed salesperson. If all requirements are met, individuals are scheduled for an examination. Applicants obtain examination schedules from the testing agency. Examination Fee: $75.00 Research and Education Fee: $30.00 Active/Inactive License Renewal Fee: $205.00 Criminal Records Search Fee: $25.00 Active/Inactive License Renewal Late Fee: $345.00 (with penalty) Recovery Fund Fee: $30.00 Broker License Fee: $150.00 Temporary License Fee: $150.00
Outlook: Satisfactory
Alabama Employment Outlook
Alabama Wage Data
Hourly Wage   Annual Wage
Entry   Entry
Mean   Mean
Experience Experience

The data is based on the May 2017 Occupation Employment Survey employment and wage estimate file. The wages have been aged using the most current ECI factors reflecting wages as of June 2018.

Alabama Projections
Estimated Employment 2016Projected Employment 2026Annual Average OpeningsAnnual Growth Rate
51054050.57
Related Occupations: Postsecondary Institutions With Programs:
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James H Faulkner State Community College
Jefferson Davis Community College
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Occupational Videos
41-9021.00 Real Estate Brokers