Section 339.2516a – Inspection of Document or Record by Representative of Department.
339.2516a Inspection of document or record by representative of department. Sec. 2516a. During normal business hours, a licensee shall allow any authorized representative of the department to enter any of its places of business in this state and inspect any document or record that the department determines is reasonably necessary for an investigation of the […]
Section 339.2516b – Rescission of Rules.
339.2516b Rescission of rules. Sec. 2516b. R 339.22205 to R 339.22301, R 339.22309 to R 339.22311, R 339.22317 to R 339.22319, R 339.22323 to R 339.22329, and R 339.22339 to R 339.22405 of the Michigan Administrative Code are rescinded. History: Add. 2016, Act 502, Eff. Mar. 29, 2017 Popular Name: Act 299
Section 339.2517 – Disclosure of Agency Relationship.
339.2517 Disclosure of agency relationship. Sec. 2517. (1) A licensee shall disclose to a potential buyer or seller in a real estate transaction all types of agency relationships available and the licensee’s duties that each agency relationship creates before the disclosure by the potential buyer or seller to the licensee of any confidential information specific […]
Section 339.2518 – Prohibited Actions.
339.2518 Prohibited actions. Sec. 2518. An action shall not be brought against a real estate broker, an associate broker, or a real estate salesperson under the following circumstances: (a) For failure to disclose to a purchaser or lessee of real property that a former occupant has or is suspected of having a disability. As used […]
Section 339.2601 – Definitions.
339.2601 Definitions. Sec. 2601. As used in this article: (a) “Appraisal” means an opinion, conclusion, or analysis relating to the value of real property but does not include any of the following: (i) A market analysis performed by a person that is licensed under article 25 solely for the purpose of assisting a customer or […]
Section 339.2603 – Board of Real Estate Appraisers; Creation; Qualifications of Members.
339.2603 Board of real estate appraisers; creation; qualifications of members. Sec. 2603. (1) There is created a board of real estate appraisers. (2) Of those board members who are appraisers, 3 shall be certified general real estate appraisers, 1 shall be a certified residential real estate appraiser, and 2 shall be either state licensed real […]
Section 339.2605 – Uniform Standards of Professional Appraisal Practice; Rules; Use of Aqb Criteria.
339.2605 Uniform standards of professional appraisal practice; rules; use of AQB criteria. Sec. 2605. (1) At a minimum and subject to subsection (2), a licensee under this article who performs an appraisal shall utilize the uniform standards of professional appraisal practice that are in effect at the time the licensee is engaged to perform the […]
Section 339.2607 – Prohibited Representations; Definitions; Authorized Appraisals.
339.2607 Prohibited representations; definitions; authorized appraisals. Sec. 2607. (1) A person shall not act as or offer to act as an appraiser unless licensed under this article or exempt from licensure under this article. (2) An individual shall not represent himself or herself to be a state licensed real estate appraiser, a certified general real […]
Section 339.2512f – Supervision of Real Estate Salesperson.
339.2512f Supervision of real estate salesperson. Sec. 2512f. (1) A real estate broker or associate real estate broker shall supervise the work of a real estate salesperson. For purposes of this subsection, supervision of a real estate salesperson includes at least all of the following: (a) Direct communication in person or by radio, telephone, or […]
Section 339.2513 – Filing Bond or Posting Cash Deposit as Condition Precedent to Issuance of License or Removal of Suspension; Action by Injured Person.
339.2513 Filing bond or posting cash deposit as condition precedent to issuance of license or removal of suspension; action by injured person. Sec. 2513. If an application for a license is made by a person whose license has been denied, suspended, or revoked as a result of disciplinary action for violation of this article or […]