Are you curious about how to become a real estate broker in Michigan? Becoming a broker requires a little more education and experience than becoming a real estate salesperson, but it has the distinct benefits of allowing you to work completely independently and allowing you to hire your own real estate agents.
You can become a real estate broker in Michigan in 5 simple steps.
Step 1: Get Your Michigan real estate license as a salesperson
Before you can become a real estate broker in Michigan, you must be a licensed real estate salesperson. Real estate sales is the best way to learn the ins and outs of the real estate industry before working as an independent broker or supervising other agents. To get your Michigan real estate license, you’ll need to complete the following steps:
- Meet the basic qualification requirements (be at least 18 years old and of good moral character).
- Complete a 40-hour pre-license real estate course from an approved Michigan real estate school.
- Complete your real estate license application online.
- Find a sponsoring broker.
- Pass the Michigan real estate exam.
Once you have your Michigan real estate license, you’re able to represent clients in the purchase and sale of real estate, and you’re on your way to becoming a Michigan real estate broker.
Step 2: Gain some experience
According to the Michigan Bureau of Professional Licensing and Regulatory Affairs (LARA), you must have “at least 3 years full time experience as a real estate salesperson, or equivalent experience (Rule 205).” Equivalent experience can be time spent in real estate-adjacent fields including: a licensed builder an investor a land or condominium developer a loan or trust officer of a federal or state-regulated depository institution a loan or trust officer of a mortgage company a real estate office of a corporation a title insurance company officer engaged in the closing of escrow accounts and real estate closings a staff or real property appraiser
Step 3: Complete your broker coursework
In addition to the 40-hour pre-license real estate course required to become a real estate agent, you’ll need to complete a state-approved 90-hour real estate course specifically for aspiring brokers. This course is more detailed and more advanced than the real estate agent course, and it will prepare you for the next step: your Michigan broker exam.
Step 4: Pass the broker exam
The Michigan broker exam consists of 115 questions, which you’ll have four hours to complete. Exam proctor, PSI, publishes a helpful Candidate Information Booklet to give test-takers an overview of the testing process. You’ll need to score 75% or higher to pass the exam. If you are unable to pass on your first try, you can always retake the exam. Just know that there is a $79 exam fee charged per attempt.
Step 5: Apply for your Michigan broker license
Once you pass your broker exam, you can apply for your Michigan broker license online. Simply complete the application and pay the $143 application fee.
Upon approval of your application, you’ll officially be a licensed real estate broker!
Now that you know how to become a real estate broker in Michigan, don’t wait another day to start your new career. Enroll in your real estate courses and get started now!