You can earn your Michigan real estate broker license in three simple steps, in about three months, and for less than $1,000. If you’re currently working as a real estate agent in Michigan and you’re ready to pursue your broker’s license, it’s relatively easy to get started.
We’ll walk you through the process of how to become a real estate broker in Michigan, talk about the minimum experience you’ll need to begin the process, and answer some common questions to help you determine if becoming a broker is right for you. Let’s get started.
What Are the Michigan Real Estate Broker License Requirements?
To be eligible for a Michigan real estate broker license, you need to meet the following minimum requirements. You must:
- Be at least 18 years old
- Have at least three years of full-time experience in a real estate field
- Have a Social Security number at the time of application (though there are provisions if you don’t have one)
- Have a Michigan business address
- Be of good, moral character without any embezzlement or misappropriation of funds convictions
If you don’t have a current Michigan real estate agent license, you will need to complete Michigan’s 40 hours of prelicensing courses for agents within 36 months of submitting your broker application to the state.
Qualifying experience may include working as a real estate salesperson, but it also can include experience in a lengthy list of closely related professions. See our FAQ section at the bottom of this article for a comprehensive list. There are a lot of avenues available to becoming a real estate broker in Michigan.
Keep reading to learn more about the fastest way to complete the process. We’ll also answer common questions about the time commitment, level of difficulty, costs, and more.
How Much Does It Cost to Get a Michigan Real Estate Broker License?
It costs approximately $920 to get your Michigan real estate broker license. The average Michigan real estate broker earns $80,610, compared to just over $60,000 for a Michigan real estate agent. Here’s a breakdown of the costs you’ll incur when you pursue your real estate broker license in Michigan:
Michigan Real Estate Broker License Costs
| Classes (90 hours) | $699 (through Mbition) |
|---|---|
| Application | $143 |
| Michigan Broker Exam | $79 |
| Total Costs | $921 |
(Michigan real estate broker license costs as of January 2022)
How to Get Your Michigan Real Estate Broker License
We know you’re excited to get started in your new career. Here’s how to get a Michigan real estate broker license in just a few months.
1. Complete a 90-Hour Michigan Real Estate Broker License Course
Cost: As low as $699 with Mbition
Time commitment: 1-2 months
To become a Michigan real estate broker, you need to complete 90 hours of approved courses. One of our recommended providers, Mbition, divides the Michigan real estate broker course into three 30-hour classes as follows:
| Broker Prep (30 hours) |
|
| Valuation of Residential Properties (30 hours) |
|
| Commercial Real Estate Brokerage (30 hours) |
|
Course Exemptions
The following individuals may be exempt from taking a portion of the real estate broker courses:
- Those with a law degree are exempt from 66 hours of real estate broker courses (60 hours of real estate broker education and six hours of Civil Rights and Fair Housing Law).
- Those with a master’s degree in business administration or finance are exempt from 60 hours of real estate broker education.
- Those with a bachelors’ degree in business or finance are exempt from 30 hours of real estate education.
Course Providers
There are several high-quality, in-person real estate schools in Michigan. However, if you’re looking for an online school that allows you to complete the courses at your own pace, we recommend Mbition for their convenient, all-inclusive package.
While Mbition also offers individual courses for those who are exempt from some course requirements, they have a complete 90-hour course of study for those looking to become a real estate broker in Michigan.
Get started on your Michigan broker course requirements in a matter of minutes. Mbition courses allow you to work at your own pace!
5 Best Online Michigan Real Estate Schools 2022
2. Pass the Michigan Real Estate Broker License Exam
After you’ve completed your Michigan real estate broker course requirements, you can schedule and take the Michigan real estate broker exam. The fastest way to schedule your exam is through the testing company’s website.
PSI is the testing company that oversees the Michigan real estate broker exam. You can choose to take your broker exam from one of the PSI testing locations in the following Michigan cities:
- Dearborn
- Gaylord
- Grand Rapids
- Holt
- Marquette
- Southfield
You’ll need to present two forms of valid ID. One must be government-issued and include your photo and signature; the other needs to include your full name in print and your signature.
You aren’t allowed to bring any personal items into the exam room. However, secure storage is available for your purse, wallet, cell phone, and other personal items.
The results of your exam will be available immediately upon completion. If you pass, you can fill out and submit the Michigan real estate broker license application on the spot. If you don’t pass, you can retake the exam as many times as needed.
Free Real Estate Practice Exam + 7 Hacks to Help You Ace Your Real Estate Exam
3. Apply for a Michigan Real Estate Broker License
Cost: $143
Time commitment: 2-3 hours
Once you’ve passed the Michigan broker exam, you can immediately fill out the Real Estate Broker Application through your MiPLUS account. MiPLUS is the website used by Michigan’s Licensing and Regulatory Affairs (LARA) office.
Before you begin filling out the application, make sure you’ve selected the correct form. If you plan to launch your own real estate firm, fill out the Individual Broker form. If you plan to continue working with another firm, fill out the Associate Broker form.
The online application is relatively straightforward. However, there are detailed instructions online to help you navigate the system. You’ll need to submit the Michigan physical address for your business on the form, which may be the same as your home address.
Once you pay a $143 application fee and submit the form to the licensing agency, you’ll be given a lengthy transaction number. Save this number to check the status of your application online.
How to Get Your Real Estate Broker License in 2022 (Without the Stress)
Michigan Real Estate Broker License FAQs
We’ve outlined a relatively fast way to level up your real estate career and obtain your Michigan real estate broker license. You may be asking yourself if the effort is worth it. We’ll help you decide if becoming a Michigan real estate broker is right for you and answer common questions about the process.
Does a real estate broker make more than an agent in Michigan?
Yes, typically a real estate broker makes more than a salesperson. According to the Bureau of Labor Statistics, the average income of a real estate broker in Michigan is $80,610, while the average income of an agent ranges between $60,330 and $66,980.
Since the one-time cost to become a broker in Michigan is less than $1,000, it makes sense that you’d make this investment in your career. However, as you know, the average income of those in the real estate industry varies greatly depending on the person’s skill, work ethic, and so much more.
Should I get a Michigan real estate broker license?
Getting your broker license will not guarantee you an annual bump in income, but it’s important to note that real estate brokers have more ways to earn their income. Here’s why.
After earning your broker license, you might strike out on your own and work for yourself as an individual broker. Or you might like the idea of overseeing a team of agents, and earn a portion of your income by sharing their commissions and collecting desk fees from agents that you manage.
Learn more about the pros and cons of becoming a broker, the day-to-day nature of the role, and the differences between agents and brokers in Real Estate Broker vs Agent: A Head-to-Head Analysis.
How long does it take to become a broker in Michigan?
It’ll take approximately three or four months to become a real estate broker in Michigan, depending on the amount of time you have in your schedule to devote to the effort.
You can speed up the process by completing your broker education requirements through an online real estate school known for offering top-notch courses. Mbition is known in the real estate industry for its quality courses at affordable prices. And no one can beat Mbition’s test prep materials!
How much does it cost to get a broker license in Michigan?
It takes about $900 to get your broker license in Michigan. This covers the cost of the 90 hours of classes, the exam fee, and the application fee. We provide a breakdown of the costs in the table above.
You’ll save money on commuting expenses if you take your real estate broker courses online. Accelerate your real estate career with Mbition.
More Career Resources From The Close
If you want to be working as a broker three months from now, you have to begin the process today! We hope you’re now armed with all the info you need to get started. The Close and The Close Pro offer valuable career resources for new brokers, and for every stage of your career.
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