Don't know what to do with your license?

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Don't know what to do with your license?
If it is Lapsed or Terminated

FAQS: 1. What are the requirements for license renewal? R 339.22213 License renewal; late renewal. Rule 213. (1) An applicant for renewal of a license may continue to operate as previously licensed, using the expired wall license and pocket card as evidence of proper licensing, if the applicant has met both of the following conditions by the expiration date. 2. What is a lapsed license? If our license is currently lapsed, it means yo did not pay the fee or make application for a renewal for the license ending 10/31/09. 3. When is license renewal required? A salesperson whose license has been lapsed for 3 or more continuous years may be relicensed if the licensee provides proof of the successful completion of 1 of the following: (a) Six Clock Hours of approved continuing education for each of the years the licensee was lapsed. (b) Forty clock hours of instruction. (c) Passing the examination required for licensure as a salesperson. 4. Do the requirements differ for brokers and associate brokers from what they are for salespersons to renew? No. the requirements are the same. there is not a statutory requirement for hours to be different for salespersons and broker/associate brokers. 5. What are the requirements for renewal of a license? Renewal occurs in the third year of a license period prior to November 1. Late renewal occurs between November 1 and December 30 of the year in which a license expires. Requirements to Renew per license law: (a) Submitted a complete application for renewal and the required fee. (b) Completed the required continuing education The requirements that a broker or associate broker must meet include the number of hours of continuing education missed during years while the license was lapsed. Alternatively, the broker exam must be passed and if an attempt is made to pass it, it will be required that the applicant take the 90 hours of required education for issue of a broker license. (If you do noy courtrently have a pocket card and license, you are out of business at this time, and you must apply for relicensur. 6. When is it necessary to apply for relicensure? A person who fails to renew a license within 60 days of expiration, shall apply for relicensure. As stated above, relicensure must be applied for after December 30 of the year in which the license expires. 7. What Requirements must be met for relicensure? According to Article 2504, beginning November 1, 2003, a licensee shall complete not less than 18 hours of continuing education per 3-year license cycle. This does not mandate 6 hours per year, rather it requires 18 during the 3 year period of the license. It further defines the requirements beginning with calendar year 2007 . . . a licensee shall complete at least 2 hours per calendar year of the required 18 hours of continuing education courses. This is the requirement of every licensee during the licensing term. Therefore, if you have a license and did not take a 2 hour class in 2007, you are behind in your hours. Each licensee, in completing the appropriate number of clock hours, will have the option of selecting the education courses in that licensee's area of expertise, as long as the education courses are approved by the department and as long as at least 2 hours of an education course per calendar year involve law, rules, and court cases regarding real estate.

General Information: You can have your license reissued at any time as long as you take CE classes for whatever year or years you missed. You can keep the education up to date by taking the CE class each year which will make it possible if you later want to activate your license to practice or to be able to make referrals and get paid simply by paying the fee at the time of the activation. The charge for a 3 year license is $78, but if you were, for example to have it issued in the second year of the license period, the fee would be a prorated amount for a 2 year license. Were you to want to activate it in the third year, the fee would be a prorated amount for a 1 year license. If you do not want to pay the 3 year fee to keep your license active, you can continue taking the CE classes every year, and you will always be up to date and able to get the license reissued at a later time without doing anything more than applying and paying. The advantage of having it issued is that you can receive referral fees if you have an issued, active license. The savings you get by using the holding company include the annual cost of the Association of REALTOR® membership and the monthly chatge for using the MLS. In the next section am posting portions of the policies and procedures for my referral/holding company so you can understand more clearly what the advantage is of joining the holding company while you are not planning to use your license.

Company Charges: The charge for the REPEG holding company is $60 for the year beginning November 1 and continuing until October 31 of the following year. If you do not pay your annual fee by February 28, there will be a $10 late fee added to your charge. If you fail to pay your fee by June 30 of any year, your license will be rturned to the Department. Your 3 year pocket card, terminating 10/31/09 was issued in 2007. No new pocket card will be issued by the Department until late 2009 when the renewal fee will again be due. By signing and returning a copy of this form, you are agreeing that you have received your 3 year pocket card. No replacement pissued unless you pay the $10 fee for reissue of the license and pocket card. Regarding CE Classes Since the fee for the holding company is not a charge for your continuing education class, but a fee to hold your license with a special benefit that provides you with a CE class as long as it brings no added expense to REPEG, REPEG will NOT credit your holding company payment to classes taken through another continuing education provider. Your failure to take a CE class does not eliminate the fee or any late fees due REPEG. Anyone licensed to the company who has paid their fee timely is entitled to 6 hours of in-class continuing education if taken prior to 10/31/08. To register for your CE class, mail or email your name, ID#, date of class and a notice that you are a member of the holding company and your class fee will be waived. If you take the class after the deadline, you will be charged an additional $25 for your class. A class schedule will be available online at the Company website: http://www.repeg.citymax.com or will be mailed at your request. You can request a schedule by calling 248-348-9191 or by emailing claudiaatrepeg@sbcglobal.net. Referral Procedure and Payment: 1. To facilitate referrals and insure that any referral commissions due are earned, REPEG has available, on this website, a Commission Agreement that must be signed by both the agent of REPEG and the agent of the company receiving the referral. Every effort will be made to assure payment is made by the broker to whom the referral is made at a rate of 25% of the receiving licensee’s portion of the commission on the transaction. If an associate has a preference as to where and with whom the referral should be placed, the preference will be accommodated as long as the name, company and phone number are provided to REPEG at the time the referral is made. If you don't know anyone in the area to give the referral, to, REPEG can find an agent for you. 2. To place a referral, you must: * Assure that a written compensation agreement is signed A note on the listing agreement or buyer agency agreement will NOT result in a legal agreement for compensation. To be able to pursue it, it must be agreed on a separate agreement which ties the receiving broker to REPEG. * Follow-up with your listing or selling person on any referrals placed to insure proper handling. * Accompany each referral with a written information sheet to be kept on file by REPEG. This form is available on the website. * Provide all necessary information to both the receiving company and to REPEG. Such information includes the name, address and phone number of the party being referred and a brief description of the party’s needs. The written information sheet can be emailed to REPEG, mailed to REPEG at 884 Allen Dr., Northville, MI 48167 or faxed to (248) 348-9494. * A Commission Agreement and a Referral Information Sheet must be on file with the office to insure payment to the referring agent. Progress reports on activity should be provided to REPEG as they become available, including information about the closing date and name of the company that will send the check. Failure to provide this information makes it difficult for REPEG to determine who the referring agent is since the broker issuing the check is not concerned about the referring agent, only the referring broker.) The fee to REPEG for assistance in placement, follow-up and payment for referrals is 15% of the referral commission earned by the Company on that referral. If no transaction results from the referral, no money is due to REPEG or to the referring licensee.