Becoming a Realtor in MI: Steps and Guide Breakdown
Becoming a Realtor in MI: Steps and Guide Breakdown
Michigan prides itself on having a thriving housing market boosted by a booming economy and growing population. All of these factors point to a great place to start a career as a realtor. However, you cannot just wake up one day and set up a real estate business or office without first getting licensed.
Here is a guide on all the steps you must complete to become a realtor in the Great Lakes State. Also included are the fees you will incur along the way and the eligibility requirements for becoming a realtor in MI.
What Are the Prerequisites?
To work as a realtor in MI, you must be 18 years or older. This is the age requirement across all U.S. states. A GED or high school diploma is not a must-have. However, you must complete all education requirements, including the pre-licensing program and passing the state exam.
Another requirement is that you must be a person of good moral standing. Prior arrests on cases such as fraud can put your dreams of working in Michigan’s property in jeopardy. The state will run background checks when you submit your license application.
Take a Pre-Licensing Program
This will be your first step towards becoming a realtor in MI. The 40 to 60-hour course is approved by the LARA, and it covers a wide range of topics related to Michigan’s property market.
You will learn about fair housing laws, contract law, real estate ethics and practices, and agency relationships. Michigan offers various options for taking the pre-licensing program. You can choose between online programs or attending in-person classes.
Course prices vary depending on the school or online provider. However, why not try these out if you want a cost-effective online program? You will get access to quality courses from between $100-800.
Ace the Exams!
You will be issued a certificate once you have finished the pre-licensing program. The pre-licensing coursework will prepare you for the upcoming state licensing exam. The state exam has 115 questions, and you must score 70% to pass.
Exam registration is done online via Michigan’s MiPLUS website. After successful registration, you will get an email from PSI with a link to schedule the exam date and testing center. You must pay the registration fee, which is $79 at the time of writing this article.
Send Your License Application
Congratulations on passing the state exam. You are now only a few steps from becoming a licensed realtor in MI. Application is done online via your personal MiPLUS account. Ensure that you have a copy of your course completion certificate, as you will need to upload it during the application process.
The application fee is $88, which can be paid using your debit or credit card. After a successful application, you will get a confirmation email.
Wrapping UpÂ
Working towards getting a Michigan realtor’s license is one of the best investments you can make with $500-1000. After getting your license, you must start working on the continuing education classes in preparation for your license renewal after three years.
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