What is required to sell real estate in Michigan?

How hard is the Michigan real estate exam?

Passing the Michigan real estate exam

It all seems pretty straightforward — except for the exam. Most people report that the three-hour test is the most difficult part of the real estate licensure process in Michigan. … Your 40 hours of pre-license education should give you all the info you need to ace your exam.

Does Michigan require a real estate attorney?

The short answer is that an attorney’s services are not required to buy or sell a house in Michigan. … Let’s start with this: for most people, buying or selling a house is the biggest legal and financial transaction in which they’ll ever participate.

How much does a realtor make in Michigan?

The average salary for a real estate agent in Michigan is around $46,160 per year.

How many times can you take the Michigan real estate exam?

How many times can I take the MI pre-license course final exam? ​You can take the final exam for the 40-hour Michigan real estate salespersons course as many times as needed until you pass.

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What paperwork do I need to sell my house by owner?

The Most Common Paperwork For Selling A House By Owner

  1. Residential Property Disclosure Form. …
  2. Sales Contract. …
  3. Title Reports. …
  4. Deed. …
  5. Loan Documents. …
  6. Latest Utility And Property Tax Bills. …
  7. Homeowners Association Agreements And Rules. …
  8. Plans And Permits.

What am I responsible for when selling a house?

Some of these costs may include homeowners association fees, property taxes, attorney fees, transfer taxes and title insurance. You also may be asked to pay an escrow fee, a brokerage fee and a courier fee.

Can I sell my house without my spouse’s signature in Michigan?

The law dictated that a husband could not sell any of his real estate without the signature and consent of his spouse. … Married couples can now own property individually and sell it individually as well. Michigan was the only state that exclusively applied dower rights to women married to men.

Is it hard to make good money as a realtor?

Making money in real estate business is relatively easy due to the rapid expansion of the residential and commercial market for properties. You only need to be little tricky to convince the potential buyers. The real estate market gives plenty of sales opportunities to the agents.

Is the Michigan real estate exam multiple choice?

There are 115 multiple-choice questions on the Michigan state licensing exam. You must answer at least 80 questions correctly (70%) in order to pass. There is a 180-minute time-limit for the exam.

How much do top 1 real estate agents make?

Top producers earn around $112,610 a year to start, according to the BLS. 1 Mega-stars could earn $500,000 per year and up.

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Can I take my real estate exam online in Michigan?

You must apply online through www.michigan.gov/icola. Complete and pass the real estate examination. You must have a valid social security number. You must be ready to pay the license fee once you apply online.

How do I find a broker to sponsor me?

5 Steps to Help You Find the Right Sponsoring Broker

  1. Step 1: Ask About Training and Mentorship. …
  2. Step 2: Tackle the Commission Split Conversation Differently. …
  3. Step 3: Ask About “Hidden” Fees. …
  4. Step 4: Don’t Forget About Lead Generation. …
  5. Step 5: Talk to Other Agents.

How many math questions are on the Michigan real estate exam?

The number of questions in the math section varies by state. You can generally expect to see between 5 to 20 math questions on the state real estate exam.