Report: Real Estate Agents Find Best Opportunities in Detroit

Detroit is the best city for real estate agents in America, according to new research from Clever Real Estate, a St. Louis-based real estate company.
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New research shows that Detroit offers real estate agents the best opportunities in the country. // Stock photo

Detroit is the best city for real estate agents in America, according to new research from Clever Real Estate, a St. Louis-based real estate company.

The study ranked the 50 most-populous U.S. metros on metrics such as affordability, salary, number of agents, annual home sales, home values, commission rates, and more.

Detroit emerged on top, with nearly five as many sales per agent as the median market, the lowest competition from fellow agents, and some of the highest commission rates in the country.

The 10 best cities for real estate agents, according to the study, are:

  • Detroit
  • Buffalo, N.Y.
  • Kansas City, Mo.
  • Tampa, Fla.
  • Richmond, Va.
  • Columbus, Ohio
  • Jacksonville, Fla.
  • Atlanta
  • Pittsburgh
  • Hartford, Conn.

Conversely, the 10 worst cities for real estate agents, according to the research, are:

  • San Francisco
  • Austin, Texas
  • San Jose, Calif.
  • Dallas
  • Milwaukee
  • New Orleans
  • Las Vegas
  • Phoenix
  • Los Angeles
  • Riverside, Calif.

San Francisco ranks as the worst city due to high competition, the fewest sales per agent, and the second-longest amount of time needed to afford a home on an agent’s salary.

Agents in New York City earn the highest median salary at $103,960 per year, making it the only U.S. market with a six-figure median income. Conversely, agents in Riverside, Calif., earn the lowest median income at $33,510 annually.

Listing agent commission rates are highest in Boston at 3.1 percent, followed by the major Ohio cities — Columbus, Cleveland, and Cincinnati — each at 3.08 percent.

Buyer’s agent commission rates are highest in Louisville, Ky, averaging 3 percent. The No.1 overall city, Detroit, trails closely with an average rate of 2.96 percent.

To read the full report, visit here.