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Placing Your Real Estate License "In Escrow" With The State of Michigan

Placing Your Real Estate License "In Escrow" With The State of Michigan

When looking for options to maintain a Michigan real estate license that isn't being actively used, many agents will turn to the State of Michigan for an escrow option.  Unfortunately, the State of Michigan does not offer an option directly to escrow a real estate license.  The State of Michigan only has active and expired licenses.  Active licenses can also be in a "no broker" status. 


According to the State of Michigan LARA Real Estate FAQ's:


Michigan does not offer an “escrow” option for real estate licensees. If you have an Active status license you may have your employer remove you as an employee and your license will be placed into “No Employer” status until the expiration date of the license. Or you can transfer your license to a holding company. A holding company is a licensed Michigan real estate broker company that holds licenses for Michigan salespersons and/or non-principal associate brokers who are not actively practicing real estate.


To maintain your real estate license in a holding company, you'll need to transfer your license to a broker such as Ignite Real Estate Group. 

2 Comments
Susan Keim
Posted on  11/15/2022 07:15 AM If my license is in a holding group and valid until 2025 do I need to take con ed this year?
Tom Webb
Posted on  11/15/2022 12:02 PM Hi Susan. Yes, you need con ed of 6 credits every year. Two need to be legal. You can check how much con ed you have toward the next renewal by logging into CEMarketplace at https://www.cemarketplace.net/.
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