Michigan License Law
In Michigan, a 'managing broker' is responsible for:
AOnly managing commercial properties
BSupervising the activities of all licensees affiliated with the brokerage and ensuring compliance with Michigan law✓ Correct
CFiling all offers with LARA
DSetting commission rates for the office
Explanation
The managing broker in Michigan is responsible for supervision of all affiliated licensees, ensuring their activities comply with the Occupational Code, maintaining proper trust accounts, and establishing office policies for ethical practice.
Related Michigan Michigan License Law Questions
- In Michigan, a licensee who accepts compensation from a party without the principal's knowledge and consent has violated the duty of:
- In Michigan, a broker who operates a real estate school must ensure the school is:
- A Michigan real estate licensee who receives a kickback from a title company for referring clients is:
- A Michigan salesperson must complete how many hours of continuing education every 3-year license cycle?
- In Michigan, which of the following activities is considered 'unlicensed practice' of real estate?
- In Michigan, a licensee practicing under a team or group name must still comply with which requirement?
- In Michigan, a broker's license can be suspended for allowing a salesperson to:
- When a Michigan real estate license is on inactive status, the licensee may:
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →