Have you ever wondered who policies licensed real estate agents and brokers? Sure there is an entire department for licensing and regulations, but is there a specific governing body dedicated only to real estate agents and brokers? The answer is YES, the Michigan Board of Real Estate Brokers and Salespersons.
The Michigan Board of Real Estate Brokers and Salespersons was created under Article 25 of Public Act 299 of 1980, as amended, to license and regulate the practice of real estate brokers and salespersons in Michigan. Article 25 defines a real estate broker as an individual or an entity, who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocation. The Board works with the Department to oversee the practice of real estate salespersons, associate real estate brokers, real estate brokers, and branch offices.
The Board consists of 9 members: 6 professional members, and 3 public members. Each member serves 4 year terms.
For more information, check out:
http://www.michigan.gov/snyder/0,1607,7-277-57738_57679_57726-250090--,00.html
The Michigan Board of Real Estate Brokers and Salespersons was created under Article 25 of Public Act 299 of 1980, as amended, to license and regulate the practice of real estate brokers and salespersons in Michigan. Article 25 defines a real estate broker as an individual or an entity, who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocation. The Board works with the Department to oversee the practice of real estate salespersons, associate real estate brokers, real estate brokers, and branch offices.
The Board consists of 9 members: 6 professional members, and 3 public members. Each member serves 4 year terms.
For more information, check out:
http://www.michigan.gov/snyder/0,1607,7-277-57738_57679_57726-250090--,00.html
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