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As a real estate agent, can I be paid to provide a market analysis?

6/29/2015

 
Currently, under Michigan law, salespersons may prepare a market analysis for the sole purpose of aiding buyers and sellers in determining a potential sale or list price, or tenants and landlords to determine a potential rental rate. The salesperson may not charge a fee or other consideration for the analysis.  A broker or associate broker may charge a fee for a written market analysis, which must include the following, special verbiage in bold face print.  Failure to do so may result in penalties as set for in the Occupational Code:

“This is a market analysis, not an appraisal, and was prepared by a licensed real estate broker/associate broker, not a licensed appraiser.”

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