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Commission rates are not set in stone. In fact, we found that while 5.65% is the average in Michigan, rates typically fall between 4.93% and 6.36%. You can save money by negotiating a lower rate with your listing agent or by working with brokerage that has a discounted commission model.
A real estate licensee can be the agent of both the seller and the buyer in a transaction, but only with the knowledge and informed consent, in writing, of both the seller and the buyer.
The highest-paid real-estate agent is a luxury broker. Luxury brokers earn an average salary of $142,000 per year with commissions reaching up to $10M annually.
With all these upfront fees, and the slow start to your new income, you may be wondering: Is my real estate license worth it? As long as you're a hard-working self-starter, the answer is a resounding YES! Don't forget ? the commission check from one big sale could cover your whole year's worth of costs.
Michigan Real Estate Salesperson License To get started you will need to complete a 40 hour pre-licensure course consisting of real estate fundamentals from an approved pre-licensure instructor.
The average salary for a real estate agent in Michigan is $29,500 per year. Real estate agent salaries in Michigan can vary between $16,000 to $78,500 and depend on various factors, including skills, experience, employer, bonuses, tips, and more.
Real Estate Agent Salary in California Annual SalaryMonthly PayTop Earners$129,667$10,80575th Percentile$103,700$8,641Average$90,804$7,56725th Percentile$67,400$5,616
On average, real estate agents make $84,459 per year ing to salaries reported by Indeed users.