Sec. 237. Definition.

Sec. 238. Regulation and Licensing.

Sec. 239. Form of Application for License for Real Estate Broker.

Sec. 240. Form of Application for License for Business Chance Broker.

Sec. 241. Form of Application for License for Real Estate Salesman.

Sec. 242. Commission Agreement.

Sec. 243. The Decisions on the Duty of the Broker.

Sec. 244. When Commission Earned.

Sec. 237. Real Estate Brokers.-Definition

A real estate broker has been denned in Michigan by statute to be any person, firm, partnership, association, co-partnership or corporation, who for a compensation or valuable consideration sells or offers for sale, buys or offers to buy, or negotiates the purchase or sale or exchange of real estate, or who leases or offers to lease or rents or offers for rent any real estate or the improvements thereon for others, as a whole or partial vocation.1 The same Act defines a real estate salesman to be any person employed by a licensed real estate broker for the purposes above mentioned. It also defines a business chance broker to be any person, firm, partnership, association, co-partnership or corporation, who for a compensation or valuable consideration sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others as a whole or a partial vocation.