The Detroit Michigan property market has been noted, both in the state and on a national basis, for belonging to one of the country’s most economically and financially ailing sectors. In this regard, the average price listing and valuation for Detroit property square footage has been placed at $71. This number indicates a relatively positive sign in regards to the Detroit real estate market, in that the valuation represents an increase of 4.4% in comparison to the previous year in Detroit Michigan property ranking.

 

Some of the more popular and financially healthy areas of Detroit property residential offerings include Indian Village, where homes are placed at an average listed price of $257,514. Other relatively high-performing Detroit property residential areas include Midtown, with an average home asking price of $239,686, North Rosedale Park, with $69,356, and Morningside, $37,433. In the Detroit real estate market, some 7700 houses are noted as having gone into foreclosure or in the process of being foreclosed upon, in contrast to which the Detroit Michigan property market is currently offering 3332 homes which can be purchased. 

On average, a residential Detroit Michigan property can be purchased for a listed price of $57,133. Figures collected from summer Detroit property sales indicate that the price asked and successfully secured for property offerings was at a median cost range of $71,241. This figure has served as a somewhat positive sign for Detroit real estate transactions, indicating a 1.8% rate of improvement in the price which realtors can charge.

 

As is the case with every state, Michigan will have certain requirements and regulations regarding the licensing of Michigan realtors. Before becoming Michigan realtors, individuals seeking to start a career in this field must do certain things before even being eligible to take the state imposed real estate broker courses.

All prospective Michigan realtors must take a forty hour pre-licensing course, which is administered through the Michigan Institute of Real Estate. Other accredited institutions or schools will also offer the course as well. In this course, potential Michigan realtors will learn about property ownership, contracts, and financing. The course costs $215 when pre-paid, or $225 if paid within five days of the first class.

The second step in becoming Michigan realtors is to complete the required six hours of continuing education for a total of three consecutive years while working as a real estate salesperson. 

Upon completion, one will become eligible to enroll in the real estate broker courses, with are also offered by the Michigan Institute of Real Estate. Three courses in total must be taken within three years in order to obtain the Michigan realtors license. This will entail a total of ninety hours in total course work, which will cost $295 per course.

Upon receiving the state license, Michigan realtors will need to take more courses in order to renew their licenses. A total of eighteen hours must be completed to renew the license, which can consist of six hours of education or classes over the three year period.