Is there a time limit after passing the exam in which you need to find a broker?
I just checked our
(Vermont's) Real Estate Regulations, and discovered that the State and National Real Estate Examinations MUST have been passed within the
2 Years immediately preceding your Application for a License. This is because the Statutes, Laws, Rules and Regulations that pertain to Real Estate are always changing, and the Exams for each State are modified to reflect those Changes.
This is also true for Vermont Brokers, who must have passed their Exams within the 2 years immediately prior to making application for a Broker's License.
In Vermont, many Licensees of both Categories used to Renew their Licenses when Market Conditions were good, and allow them to lapse when there was a downturn. Last year, Vermont tightened this up so that if someone ever allows their License to lapse for more than
5 Years, then they must start all over, right from the beginning just like a Rookie Aspiring SalesPerson, including all mandatory Classroom Education and all Examinations.
Please recognize that the times above
apply ONLY to Vermont. You should be able to log onto the Michigan Real Estate Commission WebSite and get the corresponding times (if any) that apply there; or some kind hearted soul from Michigan who is reading this may know and post it here.
Vermont is usually typical; but sometimes they try to be the
"Little tail that wags the Dog", so we sometimes have Rules that others haven't had time to think up yet . . . . so I am told.