Associate Broker Responsibilities

It would be wise on your part to learn the associate broker responsibilities if you have been longing to get into this profession. It will be helpful in analyzing the possibilities and compensation that this job brings along for you.

The position of an associate broker is almost identical to any real estate broker. However, the fact that an associate broker does not operate his work from his own office differentiates this job from the job of other brokers. An associate broker usually operates in liaison with another broker and executes all the normal duties of an associate.

An associate broker looks after the operational, legal and administrative aspects of real estate business. He attends buyer-seller meetings, prepares and circulates contract/deal documents, searches for new properties around the town/state and even country, etc. He collects payments and maintains all the necessary accounts pertaining to the business. He is also assigned with the task of posting advertisements regarding properties in forums, newspapers, portals, etc.

Associate broker responsibilities contribute in achieving or surpassing the assigned goals for business. An associate broker, through his acumen and efforts, helps the agency to progress and earn goodwill along with the revenues by providing timely and excellent services to the clients.

A description of associate broker responsibilities has been provided in detail through which you will be able to identify the role of an associate broker in a modern day agency.

Identifying and Meeting Clients

• An associate broker searches for new clients through various sources. He prepares a database of clients and communicates with each client to set up a meeting.
• He provides information to the clients either by meeting them in person or sending information about the current and upcoming projects or properties.
• He collects the information from sellers regarding the property they want to put on lease or sell. He also attends the meeting where buyers and sellers negotiate.

Prepare and Update Records

• An associate broker has to prepare and update all records related to the agency's business; be it contract details, expense records, database of properties, etc.
• He also checks the accuracy of documents provided by other brokers of the agency and files them in separate folders.
• He gets the contract documents verified by the real estate council and other authorities when required.
• He prepares and sends quotations to the clients and keeps duplicate copies of the same for official reference.

Market Research and Strategizing

• An associate broker finds out the prices of projects launched by competitors.
• He helps in setting the annual goals for the agency and developing strategies with the different brokers to achieve the set targets.

Coordinating with External Agencies

• An associate broker has to communicate with the advertising agencies to advertise about the properties and projects in different media.
• He liaises with other organizations for promotional activities and to sponsor various events.

Skills of an Associate Broker

An associate broker should be an excellent seller with an ability to deliver excellent services to ensure client satisfaction. He must practice all the ethics of real estate business and should know how to maintain excellent client and market relationships. He should be willing to travel frequently and work for odd hours to fulfill business requirements. Technical proficiency is required to maintain digital records of business processes.

Becoming an Associate Broker

For the position of associate broker, a minimum of high school diploma with some sort of previous work experience in any industry is required. Some agencies may ask for higher qualifications such as an associate or bachelor's degree in a business related course.

Career Scope for Associate Broker

An associate broker can earn an annual salary that ranges from $1, 25,000 to $2, 00,000 depending on the location of the job and on personal qualifications.

Associate broker responsibilities, in short, help the agency to fulfill client requirements and achieve success and goodwill in the long run.