In Michigan, what is the minimum requirement for a non-living entity, like a corporation, to be licensed as a broker?

In Michigan, the requirement for a non-living entity, such as a corporation, to be licensed as a broker is that it must have at least one associate broker. This clause ensures that there is qualified personnel within the corporation who have the appropriate training and experience to manage real estate transactions and oversee the activities of licensed salespersons. An associate broker has completed additional education and has engaged in a certain amount of practice in the real estate industry compared to a regular salesperson, thus providing a level of expertise needed for proper compliance with state regulations.

Having just five licensed salespersons, two managing brokers, or a set number of years of experience does not directly meet the standards set for licensing a corporation as a broker. The key aspect here focuses on the presence of an associate broker who can take responsibility for the brokerage's operations and ensure adherence to legal obligations. The licensing framework is designed to maintain professionalism and accountability within the real estate industry.