The different types of real estate broker jobs can differ from one area to another, since the title "broker" does not always mean the same thing. In some areas, real estate broker jobs are the same as real estate agent and salesperson jobs. Those areas typically also have assistant and managing broker jobs, which are positions that involve operating a brokerage or a branch office. There are also opportunities for real estate brokers to either work for a large company, small independent outfit, or to start their own brokerages. Real estate brokers can also choose to work in fields such as residential, commercial, or industrial real estate, or even property management.
Real estate brokers are professionals who assist people in the buying, selling, and managing of all types of real estate. There are typically licensing requirements to work in this profession, and every state in the United States has some type of real estate licensing procedure; law may vary in other countries, but often they are similar. The specific meaning of the title "broker" can differ from one place to another, as well, since it is typically defined by local real estate regulations. In some areas, all real estate license holders are referred to as brokers. Other jurisdictions refer to new license holders as salespeople or agents, and reserve the title of broker for more experienced individuals who have also received additional education or training.
The two primary categories of real estate broker jobs can be defined based on whether the broker is self-employed or works for someone else. Regional and national real estate chains employ managing and assistant brokers to run main and branch offices. Small real estate businesses with multiple locations are typically also required to employ assistant brokers to run branch offices and satellite locations, though the specific regulations vary from one area to another. In some areas, brokers can also be employed as salespeople who have no managerial duties or responsibilities. These types of real estate broker jobs are often commission-based, and the broker may be an independent contractor instead of a salaried employee.
Typically, real estate brokers can also open their own independent brokerages and be self-employed. Some of these brokers hire other agents or brokers, while others work alone. In jurisdictions where all license holders are referred to as brokers, the privilege of working as a self-employed broker is typically reserved for individuals who have obtained a managing broker's license.
There are also a number of other subcategories of real estate broker jobs, since many people choose to specialize in one or more kind of real estate. Residential brokers specialize in the purchase and sale of homes, while commercial and industrial brokers focus on those types of properties. Other real estate broker jobs involve property management, and, in some jurisdictions, the only way to legally manage property without owning it, or being an on-site manager, is to have a real estate broker's license.