The State of Michigan does not have a "on-hold" status for real estate licenses.  Active real estate agents who are looking to take a break from real estate should continue to keep their licenses active by taking the required continuing education and renewing their license with the State of Michigan at each renewal time.  Much of the expense of maintaining a real estate license, such as board dues and broker fees, can be eliminated by transferring your license to a holding or escrow company.  

A holding company is a licensed broker that specializes in "holding" the licenses of real estate agents who are not actively selling real estate.  The holding or escrow company has a broker license just like a regular real estate company however the company is not engaged in the everyday practice of representing buyers and sellers.  

Ignite Real Estate Group is a Michigan holding company that offers an escrow service to agents who wish to place their license in holding.