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Real Estate Career Salary Information

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Some real estate careers, especially those on the development, corporate or financial side, involve working regular weekday office hours and receiving set salaries.

In contrast, brokers and realtors are paid by commission, so salary is determined by how much they sell or lease. And because property values are determined by location, how much brokers and realtors make is greatly affected by where they work—larger metropolitan areas tend to pay higher wages because urban property values are generally higher than rural property values.

A licensed real estate agent generally works for a real estate broker, who has spent more time in the profession and has received additional training and licensing. Since agents are almost always paid by commission—and if they are supervised by a broker some of their fees are paid to the brokerage—it's uncommon to set a firm salary for an agent. Agent salaries will be determined by the results they produce.

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Real Estate Career Outlook

Moderate employment growth is anticipated for real estate brokers and agents through 2016, with an approximate 11 percent average growth predicted. Any economic downturn could prove challenging for people in this profession, however, and may downgrade this forecast.

Property manager careers will enjoy faster than average employment growth—approximately 15 percent through 2016—with opportunities proving best for college degree holders and for those who acquire professional licensure or certification. The Bureau of Labor Statistics reports there will be good opportunities particularly for those with experience managing senior housing and/or health care facilities.

Those seeking a real estate appraiser or assessor career can expect a higher than average growth—around 17 percent through 2016—with job opportunities best for those who have completed licensing qualifications and have some experience in the field. The cyclical nature of the real estate market will have a direct effect on appraisers, especially for those involved in the residential real estate market. Opportunities will be better for appraisers who work with other types of properties. Assessors, on the other hand, are needed in every city and state to make assessments for property taxes, and will be less affected by any economic fluctuation.

Development is one area of real estate that requires vision and expertise in order to balance all of the complex tasks that go into planning and building—including dealing with government and community groups—and demands flexibility in order to keep abreast of ever-changing information. This is largely due to the fact that projects can take several years to move from planning and financing to design and construction and finally, completion. Development, like other jobs within the real estate industry, is often a gamble, and success relies upon the time, effort, capital and attention to detail a developer is willing to invest.

Real Estate Salary Comparison Chart

Entry Level Mid Level Senior Level
Real Estate Agent or Broker $35,669 – $46,208 $55,212 – $59,392 $72,950 – $100,000
Real Estate Appraiser $30,000 – $40,042 $48,864 – $58,672 $60,808 – $100,000
Property Manager
$33,241 – $36,156 $42,083 – $46,776 $50,422 – $90,000
Corporate Real Estate
$20,000 – $39,000 $26,000 – $66,000 $50,000 – $110,000+
Real Estate Finance
$49,132 – $54,117 $72,254 – $87,423 $91,000 – $100,000+
Real Estate Developer
$50,000 – $65,000 $70,000 – $90,000 $100,000 – $150,000+

*Depends on company size and location
Sources: PayScale.com, January 2009; Bureau of Labor Statistics

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