The average salary for a real estate agent in Michigan is around $46,160 per year.
This is 20% below the national average. Updated in 2018.
Real estate agents earn an average yearly salary of $46,160. Wages typically start from $25,290 and go up to $84,950.
Real estate agent earnings by seniority
Approximate values based on highest and lowest earning segments.
Real estate agent salary by state
|State Name||Average Salary|
|District of Columbia||$45,800|
How much does a Real Estate Agent earn?
How much agents make depends on the number of transactions they complete, the commission paid to the brokerage, and their split with the sponsoring broker. It is very hard to make money as a real estate agent right away. Most first-year real estate agents earn very little at first, primarily because they are struggling to learn everything while they build a client base. Agents who are just starting out typically receive a low commission split while they learn the business (it is not unusual for a first-year agent to make about 50% of the commission paid to the broker).
Being a real estate agent is like running a business. It takes time and a lot of effort to build up a business. In the beginning, you have to work hard and get out of your comfort zone. Once you build up the business and get clients, business will come to you and you will not have to put as much effort into the business.
There are almost one million real estate agents in the United States. Income statistics can be very misleading because there are many part-time agents. The median income for a full-time real estate agent in 2012 was over $54,000. The median income is over $87,000 a year for those who work more than 60 hours per week. More than 21 percent of realtors make over $100,000 a year, which shows realtors can make a lot of money when they work full-time and have a plan.
Top producers earn a lot more than the average real estate agent. Each real estate office sets its own standards for top producers, but it's probably safe to say that a top producer would need to sell at least one home a month to qualify. Mega-stars earn $200,000 per year and up.
How do real estate agent salaries compare to similar careers?
|Postal service clerk salary||$60K|
|Postal service worker salary||$60K|
|Private detective salary||$51K|
|Advertising sales agent salary||$45K|
|Correctional officer salary||$56K|
|Real estate agent salary||$46K|
|Interior designer salary||$46K|
|Computer repair technician salary||$47K|
Source: CareerExplorer (Aggregated)