How to Get Your Realtor’s License in MI
Michigan is a great state for people looking for a career in the property market. The housing market is diverse, providing many opportunities, whether you want to venture into the market as a realtor or investor.
But before you can start earning money selling or marketing homes in Detroit or Grand Rapids, you’ll need to get your license. Here is where we come in. This article breaks down all the steps you must follow to earn your realtor’s license in Michigan.
What Are the Prerequisites?
Review Michigan’s eligibility requirements before you dive into the licensing process. This will help you avoid disappointments further down the road. First, you must be 18 or older to work as a realtor in Michigan.
The other requirement is that you must have a high school diploma or a GED. You can take a high school equivalency exam if you don’t have a diploma or GED. The final prerequisite is that you must have a clean criminal background.
Criminal convictions that are considered serious offenses will disqualify you from working as a salesperson or broker in Michigan’s property market.
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Education
Aspiring realtors must take and finish the 40-hour pre-licensing coursework. The program is delivered by schools approved by the Department of Licensing and Regulatory Affairs. You can attend in-person classes or enroll in online lessons offered by RealEstateU, one of the best realty schools in the U.S.
There, you will learn different topics related to the real estate market. Some of the topics you will learn about include property market laws and principles, contracts, financing, home appraisals, and valuation.
Course Exam
After you’re done with the coursework, the next step is sitting for the course exam. This exam is offered by the school, and upon passing, you’ll get a course completion certificate. The certificate is required when registering for the state’s salesperson exam.
The state exam is divided into two sections covering both state and federal laws and principles. Of the 115 questions, 35 are state-specific, with the remaining 80 covering topics related to federal real estate principles and laws.
You will pay around $79 when registering for the exam. However, if you don’t score at least 70% on the test, you must pay the registration fee and retake the exam.
Find a Sponsor
In most states, including Michigan, you cannot work in the property market as a newly licensed realtor. You need to find a broker or real estate firm to sponsor you. They will provide internship and training, allowing you to gain useful work experience.
Some real estate schools connect their students with reputable brokerage firms for internship opportunities. When choosing a broker, go with someone who has a solid reputation in the industry.
Summing Up
Getting your realty license in MI is a simple process, requiring dedication, preparation, and discipline. Work on building a solid network with other professionals in the market by attending seminars and webinars.
Join professional bodies to help solidify your reputation as a reliable realtor in Michigan. Finally, start working on your continuing education classes.
