Everything you need to know about getting your real estate license in MA
Wondering how to get your real estate license in Massachusetts? Interested in starting a career in real estate, but can't figure out what the requirements are? Wonder no more! This article will go over how to become a real estate agent in Massachusetts.
Good question - let's go over the requirements to get a real estate license in Massachusetts. There are only two basic MA real estate agent requirements:
Be over the age of 18. You have to be at least 18 years old to get your real estate license in Massachusetts.
Have a social security number. Massachusetts real estate license requirements mandate that candidates must have a social security number (though you don't have to be a Massachusetts, or even US, resident).
With the basic requirements covered, let's get to the good stuff: how to get a real estate license in MA. There are 3 steps to get your MA real estate license:
Take the 40 hour pre-licensing class at a Massachusetts real estate school (that's us!). The State of Massachusetts requires that all real estate license MA candidates take a 40 hour course before sitting for the real estate license exam.
How does the real estate class work? What's the schedule like? Well, it depends on the school. At Freedom Trail Realty School, we offer several options for becoming a realtor: flexible online classes, a four day in person crash course, an in person course spread across two weekends, or night classes. No matter what class schedule you choose we'll cover everything you need to know to pass the test and become a real estate agent.
The first couple of days of the class are focused on teaching you the material you need to pass the real estate test and start a career as a real estate agent. Between lectures you'll take loads of diagnostic quizzes to check comprehension and progress all along the way (don't get too stressed out, though - you'll answer them through a smartphone app so that you will never feel singled out or embarrassed for not understanding a concept). Classes are supplemented with group activities, guest speakers, and quiz games (with prizes!) to break up the lectures. There is plenty of time for questions and answers built into the 40 hour class, and student interaction and participation are very much encouraged!
After you make it through the material about how to become a realtor, your last day of class will be focused on practice tests and review so that you can identify and address any problem areas before you leave the class. And of course, questions are always welcome after class if you still need some help on something.
Oh, and one last thing: don't make the mistake of thinking that taking the class alone will guarantee getting a real estate license! You definitely need to take some time to study the material covered in the course to be sure that you pass the real estate test. In particular, reviewing the math covered in the course is really important for most people. The math itself is super basic, but it often requires test-takers to re-learn concepts that they haven't thought about since seventh or eighth grade.
Pass the Massachusetts Real Estate Exam. After you finish your real estate license classes, you'll be eligible to register for and take the Massachusetts real estate exam. The real estate exam is the most important step for becoming a real estate agent in MA.
The MA real estate exam is 120 questions broken down into two sections: general real estate knowledge, and Massachusetts real estate law. You need to score at least a 70% on each section to pass. The exam is administered by PSI, and they offer it weekly at several testing centers around Massachusetts (the Boston testing center is right in Charlestown by the Orange Line).
Wondering how test day works? Here's what to expect:
When you show up at the testing facility you'll check in at the front desk. They'll take your photo, and bring you into the testing room, and sit you down at a computer to take your test.
The real estate test is all multiple choice, and you can review your answers before finishing. You can take breaks during the test to use the restroom, but keep in mind that you have four hours to finish the test, and any breaks you take count against your time. But don't worry too much: the test probably won't take the full four hours to complete!
Oh, and yes, you'll be given scratch paper and a calculator for the math problems!
When you finish the test, you will return to the front desk, and the exam center staff will tell you if you passed or failed. If you pass you'll get your license on the spot, and have now become a realtor!
Pay the licensing fee. If you pass the test you'll get your real estate license on the spot. Congratulations! All that's left to do is pay the MA real estate salesperson license fee. What is the cost of a real estate license? The fee for a new license is, at most, $150. You'll pay your fee to the registrar when you pass the test, and you'll leave the test center with your new real estate license. Congratulations on receiving your MA real estate license (and be sure to come prepared to pay your fee on the day of the test)!
Good question! After you pass the test, you'll probably want to go to work for a real estate agency, and you may be wondering how difficult it will be to find a job. Good news: it is super easy to find work as a real estate agent. Just be sure that whichever agency you end up working for offers thorough sales training so that you'll be prepared to work as soon as possible, because real estate agents are usually paid on a commission only basis.
(Wondering how much real estate agents usually make? You can read all about real estate agent salaries here.)
To maintain your real estate license and keep it from expiring, MA requires real estate salespersons to complete 12 hours of continuing education within two years of receiving his or her license. Conveniently, you can complete your continuing education requirement easily anywhere you have an internet connection. When the time comes to complete your continuing education, check out our online continuing education classes here.
The steps above are all that's required to get a real estate license, but there's a few extra things you'll want to be successful as a real estate agent:
MLS Access - You'll need to have access to Multiple Service Listing (MLS) so that you can view all of the properties across the state for rent or sale. MLS access costs around $20 per month, and is something every real estate agent should have.
E&O Insurance - You probably want to purchase E&O (Errors and Omissions) insurance. E&O insurance will help to protect you against lawsuits for any mistakes you might make (after all, you're only human!). The cost of this coverage can run you around $30 per month, depending on the policy you choose, and it's totally worth getting.
Realtor Membership - You might want to join your local chapter of the National Association of Realtors. Becoming a realtor is totally optional, but some offices will want their agents to join. Expect your Realtor membership dues to be about $500 per year if you're required (or want) to join.
Let's summarize all of the costs to get your real estate license in Massachusetts. If we add up all of the costs you're likely to incur in your first month as a new agent, it looks like:
Not too bad when you consider that many professional licenses cost several thousand dollars (never mind something like a medical license!).
Good question! The real estate salesperson license is not the same as the real estate broker license, and there are a few extra steps to become a broker.
(Wondering what the difference is? Basically, it's this: real estate salespeople have to work for a broker, real estate brokers can work for themselves.)
First, you have to obtain your real estate salesperson license, since it's a pre-requiste for getting a real estate broker's license. After you get your salesperson license you'll need to work for a brokerage for at least three years, complete another 40 hour course, and you pass the real estate broker's test.
So you can't open a real estate brokerage right away, but there is a silver lining: real estate salesperson work is very independent, and many brokerages let you choose how to run your real estate business for yourself.
Phew, that was a lot! If you follow the steps above, and you'll be licensed as a real estate salesperson in Massachusetts in no time! Hopefully this guide answered your questions about getting your real estate license, and we'll see you in class!