Real Estate Broker Salary 2025: $73,220 Median, High Pay in NJ & CT
The median real estate broker earns $73,220 per year, according to the latest Bureau of Labor Statistics data. That works out to about $35 an hour. But the range is huge: the bottom 10% make $37,110 or less, while the top 10% pull in over $143,300.
How much Real Estate Brokers earn
The mean annual wage for real estate brokers is $83,950. Many brokers earn commissions on top of base pay, so actual income can swing widely based on market conditions and deal volume.
Top earners in the 90th percentile make over $143,000, suggesting strong upside for those with experience and a solid client base. Entry-level brokers and those in slow markets often start near the 10th percentile figure of $37,110.
Pay by state
Where you work matters a lot. The highest-paying state for real estate brokers is New Jersey, with an average salary of $111,390. Connecticut follows at $105,800, then Utah ($92,830), Washington ($82,790), and Alabama ($82,630).
On the lower end, the lowest-paid states are Iowa ($50,140), Mississippi ($41,690), and Minnesota ($39,850). Keep in mind these are averages; a top broker in a lower-pay state can still earn well above the median.
How to become Real Estate Broker
Becoming a real estate broker typically requires you to first work as a licensed real estate sales agent for a few years. Most states demand 1–3 years of active experience as an agent before you can apply for a broker license.
You'll also need to complete additional education — often 60 to 90 hours of broker-specific coursework — and pass a state licensing exam. Some states require a bachelor's degree, though many don't. Expect to pay a few hundred dollars for courses and exam fees, plus annual license renewal costs.
- Work as a real estate sales agent (typically 1–3 years experience required).
- Complete state-approved broker education (60–90 hours).
- Pass the state broker licensing exam.
- Submit application and fees; some states require a background check.
Job outlook
Employment of real estate brokers is projected to grow 3.3% from 2024 to 2034, about as fast as the average for all occupations. That translates to roughly 9,700 job openings each year, many of which stem from retirees or brokers moving to other careers.
Currently, 46,100 brokers are employed across the U.S. Growth will be tied to the health of the real estate market and local economic conditions. Brokers who specialize in commercial real estate or luxury residential may see more opportunities.
Frequently asked questions
Is real estate broker a good career?
It can be, if you're self-motivated and comfortable with commission-based income. The median salary of $73,220 is solid, and top earners make over $143,000. But income can be erratic, and you'll need to cover your own taxes and expenses.
What's the difference between a real estate agent and a broker?
A broker has additional training and licensing beyond an agent. Brokers can work independently, hire agents to work under them, and often handle more complex transactions. Agents must work under a supervising broker.
How long does it take to become a real estate broker?
Most states require 1–3 years of experience as a licensed agent first. After that, expect 2–6 months for coursework and exam prep. Total time from starting as an agent to becoming a broker is usually 2–4 years.
Which state pays real estate brokers the most?
New Jersey tops the list with an average salary of $111,390. Connecticut, Utah, Washington, and Alabama also pay above the national average.
Salary figures are U.S. Bureau of Labor Statistics estimates (OEWS / Employment Projections). For informational purposes only; not career or financial advice. See the full Real Estate Brokers data.