1st Michigan Realty Holding LLC/1MR Holding is a Michigan Real Estate Broker that holds licenses for salespersons in Michigan who are not practicing real estate, but would like to keep their Michigan salesperson license and generate income from referrals.
1MR Holding LLC holds your Michigan real estate license in accordance with the laws and regulations of the State of Michigan. 1MR Holding LLC does not represent buyers or sellers, but instead is only in the business of maintaining salespersons licenses with the State.
Referral Agent’s responsibilities:
NOT to practice real estate activities as a real estate salesperson, such as but not limited to:
- Not to represent buyers or sellers;
- Not to act as a property manager;
- Not to offer services for buying, sale, leasing, listing, construction, or market analyses of real estate;
- Not to negotiate for any buying, sale, leasing, exchange, construction, or mortgage of real estate.
Abide by the laws, statutes, and regulations of the State of Michigan, the Michigan Department of Licensing and Regulatory Affairs (LARA), and the 1MR Holding LLC office policy. You are responsible for meeting all the continuing education requirements, paying all licensing fees to LARA, and renewing your real estate license with LARA every three years.
Receive income from referrals
Refer buyers/sellers to other brokers, such as 1st Michigan Realty. If the referral results in the buy/sale of property, referral fee from that referral is generated. 1MR Holding LLC will provide you with referral contracts to be used for referrals to other brokerage including out of state. Referral form needs to be signed by both brokerages before a referral begins.
Cost: $60 each year, or $150 for every three years. Fee is non-refundable.
Transfer my license to 1MR Holding LLC
Transferring from another broker to 1MR Holding LLC:
- Go to the State of Michigan iCOLA website (iCOLA is LARA’s online resource for information and access to your real estate license.)
- Log into or open a free iCOLA account
- Click on your license number
- Click on the “Transfer License” box and follow the instructions
Transfer fee: $10. Our Broker Number is 6505421306.
New license applicant:
- List 1MR Holding LLC as your employing broker when applying for your salesperson license through iCOLA
- Inform us that you used iCOLA so that we can approve your sponsorship (Email: firstname.lastname@example.org Phone: (248) 838-9988)
- If you have already submitted your license application, use this Employing Broker Notification form (FORM LRE-050).
Sign up fee: $0. Our Broker Number is 6505421306.
Switch back to a regular/active real estate agent:
You can transfer to another broker such as 1st Michigan Realty LLC at any time using the State of Michigan’s iCOLA system. Let us know, and we will send your wall license back to the State.
Timeline for the process:
If the iCOLA system is used to transfer license, the process should be completed within a few days.
Frequently Used Links: