Question 1

What is 123 Mich Holding LLC?

Accepted Answer

123 Mich Holding LLC, established in 2009, is a Michigan Real Estate Broker that holds licenses for salespersons in Michigan who are not actively practicing real estate, but would like to keep their hard-earned Michigan salesperson license.  More specifically, all real estate salesperson licenses are governed by the Michigan Department of Licensing and Regulatory Affairs (LARA).  LARA requires that all real estate salesperson licenses be held by a Michigan licensed real estate broker, even if you do not plan to actively practice with your salesperson license.  So, if you do not currently plan to engage in the practice of real estate, but still want to keep your license and generate some income from referrals, 123 Mich Holding LLC is your perfect employing broker!

Question 2

What is the advantage of 123 Mich Holding LLC over other holding companies?

Accepted Answer

Simply stated, the best value! 123 Mich Holding LLC provides the best value because it is only $75 each year, which is significantly less than our competitors. Plus, you get 6 FREE hours of continuing education for each year you sign up. That's at least a $49 value – FOR FREE! But perhaps most attractive, unlike other holding companies, 123 Mich Holding LLC lets you keep 75% of any referral business you generate. That's more money in your pocket!

Question 3

How do I know if 123 Mich Holding LLC is right for me?

Accepted Answer

123 Mich Holding LLC is right for you if you want to keep your Michigan real estate salesperson license but: You are tired of paying expensive local board and MLS dues, as well as desk fees, which add up to several hundred dollars each year! You want 6 hours of free continuing education each year (including 2 hours of legal update plus 1 hour of mandatory fair housing). You want to generate income from referrals. You want to pick the brokers to whom you refer buyers or sellers. You want the flexibility to immediately transfer to another brokerage when you decide to represent buyers and sellers again.

Question 4

Do you hold Associate Broker licenses?

Accepted Answer

No, 123 Mich Holding LLC does hold Associate Broker licenses.  We only accept real estate salesperson licenses into our holding company.

Question 5

What does 123 Mich Holding LLC do for me?

Accepted Answer

123 Mich Holding LLC holds your Michigan real estate salesperson license in accordance with the laws and regulations of the State of Michigan.  123 Mich Holding LLC does not represent buyers or sellers, but instead is only in the business of maintaining salespersons licenses with the State.  And, 123 Mich Holding LLC provides 6 free real estate continuing education credit hours, including at least two credit hours dedicated to legal courses, from 1 Stop ConEd LLC (www.1StopConEd.com).

Question 6

What are my responsibilities if 123 Mich Holding LLC holds my license?

Accepted Answer

If 123 Mich Holding LLC holds your salesperson license, you agree not to actively engage in the practice of real estate or hold yourself out as an active real estate salesperson.  More specifically, you agree not to represent buyers or sellers or act as a property manager, including collecting or receiving fees or any compensation for selling/renting or offering for sale/rent, buying or offering to buy, providing or offering to provide market analyses, listing or offer or attempting to list, or negotiating the purchase or sale or lease or exchange or mortgage of real estate, or negotiating for the construction of a building on real estate.  You must also agree to continually abide by the laws, statutes and regulations of the State of Michigan and the Michigan Department of Licensing and Regulatory Affairs (LARA).  You are also responsible for paying all licensing fees to LARA and renewing your real estate license with LARA every three years.

Question 7

How can I generate money from referrals?

Accepted Answer

You can refer buyers/sellers to other brokers of your choice that are actively engaged in buying/selling real estate.  If one of those “leads” or referrals materializes and results in the sale of property, then you would keep 75% of any referral fee generated from that referral, and we would keep the other 25%.  (FYI, typically, the referral fee is 25% of the broker's commission.)  123 Mich Holding LLC will also provide you with referral contracts to be used for referrals.

Question 8

How much does it cost to hold my salesperson license with 123 Mich Holding LLC?

Accepted Answer

It is only $75 each year to have 123 Mich Holding LLC hold your real estate salesperson license.  That is a substantial savings over our competitors.  And, because you also get 6 hours of free continuing education each year (a $49 value), it is like you are really paying only $26 each year.  That is far less that our competitors!  A real value!

Question 9

How do I get my FREE 6 hours of continuing education?

Accepted Answer

From your dashboard, you'll be able to press the 'redeem' button, where you can look through our selection of courses from our partner website www.1StopConEd.com. Then, choose any course, and simply press "redeem". You'll immediately be able to access the course and a confirmation will be emailed to you. It's that easy!

Question 10

What if I want to be a working real estate agent again?

Accepted Answer

You want to represent buyers and sellers again?  No problem.  You can easily transfer to another broker at any time, no questions asked.  All you have to do is let us know that you no longer want 123 Mich Holding LLC to hold your salesperson license and we will send your license directly back to the State.  Or, you can simply use the State of Michigan's online MiPLUS system to transfer your license to a new broker.

Question 11

How do I sign up?

Accepted Answer

We have made holding your Michigan real estate salesperson license with 123 Mich Holding LLC As Easy As 1-2-3!  All you have to do is click on the "Sign Up" tab at the top of your screen. If you already have an account, you can log in. Once you have your account, press Add a Year to be walk through the 3 simple steps of (1) Electronically signing the holding agreement, (2) Completing your payment, and (3) Transferring your license.  The website will walk you through all of these steps automatically.  And don't forget that you are entitled to 6 FREE hours of continuing education (from www.1StopConEd.com) once you sign up, which will appear in your account automatically.

Question 12

If I like it, when and how do I renew?

Accepted Answer

We will hold your real estate salesperson license until December 31 of the year you sign up.  Our renewal window starts each year on October 1, and you want 123 Mich Holding LLC to continue to hold your license each year, you have until December 31 to renew.   All you have to do is click on the "Sign Up/Renew" tab at the top of your screen.  You will be prompted to choose between "New Sign Up" or "Renewal."  Simply choose the "Renewal" button and pay the annual renewal fee.  The Agreement is valid year-after-year as long as you pay that renewal fee by December 31.  And don't forget that you are entitled to yet another 6 FREE hours of continuing education (from www.1StopConEd.com) for each year that you renew!

Question 13

How do I pay?

Accepted Answer

We accept all major credit cards as payment.  Our credit card processing is completed safely and securely through Stripe using Secure Socket Layer (SSL) that encrypts the data you provide to ensure privacy.

Question 14

How do I transfer my license to 123 Mich Holding LLC?

Accepted Answer

Transferring from another broker:  All real estate license transfers must be completed online using the Michigan Department of Licensing and Regulatory Affairs (LARA)’s online MiPLUS system, which can be found at www.mi.gov/MiPLUS.  A step-by-step guide to transferring your license in MiPLUS can be found on our website HERE.  Our Broker Number is 6505361018.

New salesperson license:  All new real estate new license applications must be completed online using the Michigan Department of Licensing and Regulatory Affairs (LARA)’s online MiPLUS system, which can be found at www.mi.gov/MiPLUS.  A step-by-step guide to transferring your new license in MiPLUS can be found on our website HERE (see “Instructions how to apply for a new real estate license in MiPLUS”).  Our Broker Number is 6505361018.

Question 15

How long does the process take?

Accepted Answer

Transferring your license is As Easy As 1-2-3! Because the license transfer is completed online using LARA's MiPLUS system, the process can be completed in less than one day.

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