Many people reach a point in their life where they begin to rethink their choice of career. Whether you are looking for a challenge or to better utilize your potential, it is natural to set your sights on a new and exciting path. For many people looking to get into a new field, real estate is a popular choice—for good reason.
Real estate is a fairly easy field to break into, even for those who have no prior experience. You will learn much of what you need to know while you are studying for your real estate license, and then you’ll be ready to get to work. The process of getting licensed is simple, but this guide will walk you through each step toward getting your Michigan real estate license online as quickly as possible.
If you are a self-motivated problem-solver with an entrepreneurial spirit, real estate may be the perfect career for you. Read on to learn how to get licensed online and start your new career today.
What does a real estate agent do?
Real estate agents are essentially small business owners, though instead of selling a product, they sell their knowledge of the real estate industry. As small business owners, real estate agents are their own boss (unless they choose to work with an established firm). This means they have control over all aspects of their business and are responsible for scheduling, marketing, generating leads, and choosing how the business grows.
When working with clients, real estate agents are responsible for helping their clients purchase, rent, and sell various properties. They advise clients about market conditions, conduct walkthroughs, and provide knowledge and assistance throughout the process of buying, selling, and leasing properties. Some common tasks a real estate agent performs on a daily basis include:
- Scheduling appointments and property walkthroughs
- Updating property listings
- Staying up-to-date with market trends and best practices
- Searching open listings to find properties
- Performing market analysis
- Networking with potential clients
- Managing online and social media presence
- Creating and distributing promotional material
- Maintaining a blog or website
Above all, real estate agents work to secure their clients the best prices when buying or selling properties. This, plus the market knowledge they provide, makes them an invaluable asset to clients who are looking to purchase or list their property.
Why go into real estate?
For those looking to start a new career, real estate is a great option for many reasons. For one, there are no degree requirements to getting licensed; you only need to pass the licensing exam to become a full-fledged real estate agent. Plus, you’ll be at no disadvantage if you’re licensed without a degree. You never stop learning as a real estate agent, and once you’re licensed you can hone your craft through firsthand experience.
Another advantage to becoming a real estate agent is the job’s flexibility. As your own boss, you can design a schedule that fits your needs, making it easier to balance your career and personal life. Plus, your income is dependent on how much time you dedicate to the work, so you even have the option to treat your real estate business as a side-hustle. The flexibility to conduct business however you choose is one of the biggest benefits of a career as a real estate agent.
How to Become a Real Estate Agent
While it does take focus and discipline to become a real estate agent, the overall process is simple. To get a real estate license online in Michigan, there are several steps you need to follow.
- Complete 40 hours of approved pre-licensing education
- Submit your application
- Pass the Michigan real estate examination
- Select a broker for sponsorship
- Receive your license
Each of these steps is easy to complete once you get started in the right direction. They are all broken down below to further elaborate on what is required of you. By following these steps carefully you will be ready to start your new career as a real estate agent.1. Complete 40 hours of approved pre-licensing education
To qualify as an applicant for a real estate license you will need to complete 40 hours of approved pre-licensing education. This initial education will provide the basic foundations of real estate knowledge that you will build upon throughout your career. The full completion of this course will allow you to prove that you are dedicated to building a career in real estate.
This portion of the real estate licensing process can easily be completed online for those who are too busy to attend in-person classes. Online pre-licensing education allows you to learn the necessary information on your own schedule and is ideal for those who must carefully balance their work and personal lives. These online courses can be completed at your own pace so you can learn in a way that best fits your needs.
The pre-licensing education must constitute a total of 40 hours, with at least four of those hours dedicated to studying civil rights law and equal opportunity in housing. Throughout your prelicensing course, you will receive instruction in a variety of real estate practices, including:
- Property ownership
- Transfer of title
- Real estate law
- Title insurance
- Brokerage relationships
- Financing, valuation, and closing
- Property management
- Taxation
Your online pre-licensing course must be certified with state approval in order to receive credit for your hours of education. Once you have completed the full 40-hour requirement, you can move on to the next step in the process of getting your Michigan real estate license online. 2. Submit your application
As soon as your 40 hours of pre-licensing education are completed you can move on to the application portion of the process. Visit the Michigan Professional Licensing User System (MiPLUS) website to access the application. Follow the prompts on the site to create an account and submit the application for a real estate salesperson license.
You will be required to pay a new application fee of $88.00 at the time you apply. This is a one-time fee that you will only pay when you submit your first application for the real estate license. Once you are licensed, you will be required to pay a renewal fee every three years to keep your application up-to-date.
Now that your application is submitted, it is time to wait for approval from the Michigan Department of Licensing and Regulatory Affairs. As soon as you receive approval, you can move on to the next step in the process.3. Pass the real estate examination
Once your application is reviewed you will receive an authorization to test (ATT) letter in the mail. The letter will contain an exam candidate MIRE (Michigan Real Estate) number for you to use when you take the exam. You may call the exam provider or visit their website to register and schedule your examination.
The exam fee is $76.00, and a score of at least 70% is required to pass. Be sure to dedicate much of your time to studying for the exam before you are scheduled to take it. As long as you take the time to learn the material, you should have no issue passing the real estate exam.4. Select a broker for sponsorship
The final requirement for a real estate license is to obtain a broker’s sponsorship. This requirement is meant to provide you with someone who has the right experience to guide you through the beginning stages of your new career. Finding the right broker to partner with is critical, as they will serve as your mentor during these early stages.
Some qualities to consider when selecting a broker are:
- Reputation, both locally and nationally
- Commission structure
- Networking potential
- Offered benefits
- Whether support is offered to agents through education and training, or leads and marketing material
- Room for growth
Once you have partnered with a broker for sponsorship, visit your MiPLUS account to modify your profile. After you have input their brokers’ license number and other information, simply wait for the broker to approve your sponsor request and wait for your license to issue.5. Receive your license
Once your sponsorship is approved, you will finally be issued your Michigan real estate license and may begin practicing. Your license must be renewed every three years to keep it up to date, and you must continue your education to prove that you are qualified to keep your license.
If you are interested in the challenging and rewarding work of a real estate agent, start the process of getting your Michigan real estate license online today. With this guide, navigate the process quickly and easily to start building your brand new career as soon as possible.
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