Career and Education Opportunities for Real Estate Agents in Detroit, Michigan
For those living in the Detroit, Michigan area, there are many career and education opportunities for real estate agents. Currently, 10,820 people work as real estate agents in Michigan. This is expected to grow by 8% to 11,660 people by 2016. This is not quite as good as the nation as a whole, where employment opportunities for real estate agents are expected to grow by about 16.2%. Real estate agents generally rent, buy, or sell property for clients.
The income of a real estate agent is about $16 hourly or $34,760 per year on average in Michigan. In the U.S. as a whole, their income is about $19 per hour or $40,150 yearly on average. Incomes for real estate agents are not quite as good as in the overall category of Real Estate in Michigan, and not quite as good as the overall Real Estate category nationally.
There are seventy-three schools of higher education in the Detroit area, including one within twenty-five miles of Detroit where you can get a degree to start your career as a real estate agent. Real estate agents usually hold a high school diploma or GED, so you can expect to spend only a short time studying to be a real estate agent if you already have a high school diploma.
CAREER DESCRIPTION: Real Estate Agent
In general, real estate agents rent, buy, or sell property for clients. They also perform duties, such as study property listings, interview prospective clients, accompany clients to property site, discuss conditions of sale, and draw up real estate contracts.
Real estate agents present purchase offers to sellers for consideration. They also design networks of attorneys and contractors to whom clients may be referred. Equally important, real estate agents have to advise sellers on how to make homes more appealing to potential buyers. They are often called upon to answer clients' questions regarding construction work and appraisals. They are expected to direct appointments to show homes to prospective buyers. Finally, real estate agents arrange meetings between buyers and sellers when specifics of transactions need to be negotiated.
Every day, real estate agents are expected to be able to see details at a very fine level of focus. They need to articulate ideas and problems. It is also important that they listen to and understand others in meetings.
It is important for real estate agents to direct property closings, overseeing signing of documents and disbursement of funds. They are often called upon to evaluate mortgage options to help clients obtain financing at the best prevailing rates and terms. They also locate and appraise undeveloped areas for building sites, on the basis of evaluations of area market conditions. They are sometimes expected to manage title searches to establish whether clients have clear property titles. Somewhat less frequently, real estate agents are also expected to direct appointments to show homes to prospective buyers.
Real estate agents sometimes are asked to visit properties to gauge them before showing them to clients. and secure construction or purchase financing with own firm or mortgage company. And finally, they sometimes have to evaluate mortgage options to help clients obtain financing at the best prevailing rates and terms.
Like many other jobs, real estate agents must have exceptional integrity and be reliable.
Similar jobs with educational opportunities in Detroit include:
- Advertising Agent. Sell or solicit advertising, including graphic art, advertising space in publications, custom made signs, or TV and radio advertising time. May obtain leases for outdoor advertising sites or persuade retailer to use sales promotion display items.
- Real Estate Broker. Operate real estate offices, or work for commercial real estate firms, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.
- Technical Service Representative. Sell goods for wholesalers or manufacturers where technical or scientific knowledge is required in such areas as biology, engineering, and electronics, normally obtained from at least 2 years of post-secondary education.
EDUCATIONAL OPPORTUNITIES: Real Estate Agent Training
University of Michigan-Ann Arbor - Ann Arbor, MI
University of Michigan-Ann Arbor, , Ann Arbor, MI 48109. University of Michigan-Ann Arbor is a large university located in Ann Arbor, Michigan. It is a public school with primarily 4-year or above programs. It has 40,618 students and an admission rate of 42%. University of Michigan-Ann Arbor has a post-master's certificate program in Real Estate which graduated twenty students in 2008.
Global Mobility Specialist: The purpose of Worldwide ERC's Certified Relocation Professional certification is to encourage members working in specific aspects of employee relocation to gain extensive and useful knowledge of all aspects of employee relocation.
For more information, see the Employee Relocation Council website.
Certified Relocation Professional: The purpose of Worldwide ERC Certified Relocation Professional program is to encourage members working in specific aspects of employee relocation to gain extensive and useful knowledge of all aspects of employee relocation.
For more information, see the Employee Relocation Council website.
Residential Certified Loan Officer: The Certified Loan Officer(CMT) designation creates a recognizable and meaningful seal of quality for residential loan officers.
For more information, see the Mortgage Bankers Association of America website.
Manufactured Home Retailer
Licensing agency: Department of Consumer and Industry Services
Address: Bureau of Construction Codes, Manufactured Housing and Land Development Division, PO Box 30703, Lansing, MI 48909
Phone: (517) 241-6300
Website: Department of Consumer and Industry Services Bureau of Construction Codes Manufactured Housing and Land Development Division
LOCATION INFORMATION: Detroit, Michigan
Detroit is located in Wayne County, Michigan. It has a population of over 912,062, which has shrunk by 4.1% in the past ten years. The cost of living index in Detroit, 86, is well below the national average. New single-family homes in Detroit are priced at $108,900 on average, which is well below the state average. In 2008, eighty-five new homes were built in Detroit, down from one hundred fifty-four the previous year.
The three big industries for women in Detroit are health care, educational services, and transportation equipment. For men, it is transportation equipment, construction, and administrative and support and waste management services. The average commute to work is about 28 minutes. More than 11.0% of Detroit residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.2%, is lower than the state average.
The unemployment rate in Detroit is 27.0%, which is greater than Michigan's average of 14.3%.
The percentage of Detroit residents that are affiliated with a religious congregation, 37.7%, is less than both the national and state average. The most common religious groups are the Catholic Church, the Muslim Estimate and the Lutheran Church.
Detroit is home to the Memorial Park Marina and the Detroit Golf Club as well as Chene Park and Mallett Playground. Visitors to Detroit can choose from Corktown Inn, Clark's Motel and Days Inn of Downtown Detroit for temporary stays in the area.