Management and Marketing Program: Career Facts - Real Estate Agent/ Broker
Real Estate Agent/ Broker
What is a real estate agent/broker?
Real estate agents are involved in the sale and purchase of single family homes, apartments, condominiums, office buildings, industrial parks and recreation property. Land development, financing and counseling are growing specialties. Real estate brokers handle the management of transactions for a large number of agents. The growth of real estate occupations are economically dependent. However, a related occupation of property and real estate manager is projected to grow at about 34 percent in the next 15 years.
What types of skills are required?
Skills and knowledge in urban planning, investment and securities, mortgage banking, property management, investment counseling, property appraisal and research are required to succeed in the real estate field. Skills in communication, buyer behavior, human relations, business management, accounting and economics are also required.
Where are they employed?
Real estate agents/brokers may work in real estate offices, land development agencies, property management firms, and other related businesses and agencies.
What are the certification/licensure requirements?
The State of Michigan has licensure requirements set for this occupation consisting of an initial exam and annual renewal.
What certificate and degree is available?
A certificate of completion is offered in real estate. Also offered is an associate degree in business in real estate.
What is the salary range?
Locally, the average annual earnings at start range from $12,000 to $20,000. Nationally, agents can expect to earn $25,000 per year on average and brokers can expect to earn an average of approximately $40,000.
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