Are you thinking of becoming a Realtor® in Michigan? Realtors enjoy a flexible work schedule, a respected position in the community, and unlimited income potential. And you don’t even need a college degree to get your Michigan real estate license.
Here’s everything you need to know about how to become a Realtor in Michigan.
What Is a Realtor®?
Did you know that there is a difference between a “real estate agent” and a “Realtor”? A real estate agent is anyone with a license to practice real estate, and a Realtor is a real estate agent who is a member of the National Association of Realtors (NAR). So all Realtors are real estate agents, but not all real estate agents are Realtors.
The question is, should you just become a real estate agent, or should you take the extra step to become a Realtor?
Why Become a Realtor?
Savvy buyers and sellers typically choose to work with a Realtor over a real estate agent because Realtors are held to the NAR Code of Ethics while real estate agents are not. Clients appreciate this added layer of accountability, and because of this higher ethical standard, becoming a Realtor gives you instant credibility.
As a Realtor, you’ll also enjoy: Increased networking opportunities, Ongoing professional training, and * Legislative advocacy at the local, state, and federal levels.
Before You Become a Realtor, You Must Become a Michigan Real Estate Agent
Earning your Michigan real estate license gets you about 95% of the way toward becoming a Realtor in Michigan. So let’s start with the steps you need to complete to become a licensed Michigan real estate agent: 1. Meet the basic qualification requirements. You must be at least 18 years old and be of good moral character. 2. Complete your real estate education. You’ll need to complete a 40-hour pre-license real estate course from an approved Michigan real estate school. 3. Start your Michigan real estate license application. Before you can sit your Michigan real estate exam, you’ll need to start your real estate license application online. 4. Find a sponsoring broker. Michigan requires that all real estate sales agents operate under the supervision of a licensed real estate broker. While you’re waiting for approval to schedule your exam, you can interview a few brokers to find the best fit for you. 5. Pass the exam. You’ll be able to schedule your exam directly with the official exam proctor, PSI as soon as you’re approved to sit the exam. To pass the exam, you’ll need to answer 70% of the 115 questions correctly. You are allowed multiple attempts if you don’t pass on the first try.
Once you choose your broker and pass your exam, your open real estate license application will be complete, and you’ll be issued a shiny new Michigan real estate license. At this point, you’re officially a real estate agent in Michigan, but to become a Realtor, you’ll need to take one more step.
Taking the Extra Step to Become a Realtor
The only remaining step to becoming an official Michigan Realtor is to join your local chapter of the Association of Realtors. Simply complete the application to join, and pay your new membership dues. By joining your local association, you’ll automatically become a member of the Michigan Realtors and the National Association of Realtors.
Is There a Downside to Becoming a Realtor?
The only downside to being a Realtor is the expense. Every Realtor in Michigan pays local dues, state dues, and national dues, which can total several hundred dollars annually.
Becoming a Realtor isn’t required, but it’s generally a good idea as long as you can afford it. You can always start as a Michigan real estate agent and become a Michigan Realtor once your business gets going. Don’t let the annual Realtor dues keep you from getting your Michigan real estate license and launching your new career as a real estate agent. Enroll in your pre-license Michigan real estate course today to get started on your new career path!