Real Estate Chapter 3-Michigan License
Laws And Rules Questions And Answers
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Board of Real Estate Brokers and Salespersons - ANSWER✔✔ is authorized
(along with the Department of Licensing and Regulatory Affairs) to promulgate
rules for the real estate profession in Michigan. The law applies to every citizen in
the state, the rules are for practitioners only.
Renewal of License - ANSWER✔✔ Licensees who fail to renew their licenses
prior to the expiration date are prohibited from practicing in the real estate
profession. They are permitted, however, to renew within 60 days after the
expiration date by meeting all requirements and paying a late renewal fee.
A licensee may be re-licensed by following:
1. apply for relicensure within three years from the expiration date of the last
license.
2. pay an application processing fee, a late renewal fee, and a license fee.
Comply with any penalties or conditions imposed as a result of a disciplinary
action
4. submit proof of completion of the equivalent of one year's continuing education
requirement within the 12 months immediately preceding the date of application or
as otherwise provided in a specific article or by rule.
Practicing Occupation without License - ANSWER✔✔ Doing so is a
misdemeanor. First Offense is $500 or imprisonment for 90 days. There after is
$1,000 or imprisonment for 1 year.
Violation of Act, Rule, Order; Penalties: - ANSWER✔✔ 1. Placement of a
limitation on a license
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