WHY DO REAL ESTATE

You Can……………….



GET ACCESS TO REAL ESTATE INVESTMENT DEALS

Getting ahead of your investment competitors is a big advantage of having a real estate license. As a licensed real estate agent, you can gain access to the Multiple Listing Service (MLS), providing you with two benefits.

First, you can focus on the best neighborhoods and spot new properties on the market faster than relying on a real estate agent to locate them and relay the information to you.

Second, there is valuable historical data on every property and neighborhood that you can mine. The MLS will give you information about past and present sales prices, comps with similar properties for comparisons, and other valuable information. While some of this information may be available on popular websites like Redfin, Trulia, and Zillow, the MLS will always be better. With MLS data, you can see which neighborhoods sell faster, the types of homes that are most popular with buyers, and the kind of buyers to pursue.

CONTROL OF YOUR DEALS

Taking control of your deals is another advantage. Being your own agent when you buy properties gives you more control. Selling your own homes gives you full control, as you set the bottom line sales price and payment terms, including if you want to do seller financing or a lease-purchase deal. As the seller, you will work directly with the lender, appraiser, inspectors, and closing lawyers or escrow company.


 EDUCATIONAL OPPORTUNITIES

The educational opportunities that come with getting a real estate license will help you understand a different aspect of the business. Even if you are an experienced real estate investor, you do not have access to what really goes on in a real estate office and how agents interact with one another. The required real estate courses will enlighten you regarding writing contracts, negotiation skills, new trends for marketing and advertising properties, preparing for open houses, and more. Ultimately, understanding all aspects of being a real estate agent will help increase your chances of success in real estate investment


You can have...........


NETWORKING OPPORTUNITIES

Networking with other real estate professionals always has its advantages. Being a licensed real estate agent opens new doors by allowing you to work with experienced brokers and agents in the office you align with. They can teach you a lot and give you tips to save time. They can also introduce you to competent and reliable lenders, appraisers, surveyors, and other real estate professionals you will need for your investments.

You can earn…......


COMMISSIONS

Earning commissions will save you money when selling your real estate investment properties. Think about it. You earn a commission when you buy properties. Let’s say you buy a $400,000 house where the total commission is 6%. That means the selling agent’s office gets $12,000 and your office gets the other $12,000. If you have a 50/50 commission split with your office, you get a $6,000 commission. When you sell the house for $500,000 as the listing agent, you will end up pocketing a $7,500 commission after all the splits between offices and your broker. Better yet, you sell your house without another agent being involved, earning you a $15,000 commission.



MASS SALESPERSON EDUCATION REQUIREMENT

Be at least 18 years old.

Be a U.S. citizen or lawfully admitted alien.

Provide a Social Security Number.

Pass a background check and be of good moral standing.

Complete 40 hours of education.

Pass the state and national exam within two years of the date of completing education.

Obtain three complete candidate endorsements from individuals unrelated to the candidate.

All candidates who have met the licensing requirements will receive their license immediately following the successful completion of the examination.

Massachusetts Requirements

I.     Licensing Requirements

A.    Any person will need a broker's license if he or she receives or expects to receive a fee, commission, or other consideration while acting on behalf of another person, and performs or attempts to perform any of the following:

1.     Sell, exchange, purchase, rent or lease, negotiate, make, offers, list real estate to sell, or deal in options on real estate.

2.     Any person who advertises or represents himself as a person or leasing real estate agent.

3.     Any person who assists or directs in the procuring of prospects for the sale or lease (apartment searching is included) of real estate.

4.     Any person who assists in the negotiation or completion of any agreement which may or may not result in a sale, exchange, purchase, lease, or renting or any real estate.

B.    A "Salesperson's" license is required by any person who performs any acts listed in the previous section (II.A.). The difference between a broker and a salesperson is that a salesperson cannot complete any of the transactions listed. The salesperson must have the broker he or she works for complete the sale, exchange, purchase or lease. The broker may delegate this activity to the  salesperson, however, the broker retains full responsibility. The term "Active, Association" describes the relationship between a salesperson and the broker.

C.    A corporation, Limited Liability Company (LLC), society, association, Limited Liability Partnership (LLP) or partnership may be issued a broker's license. The license can only be issued when at least one of the officers or partners acting. as a representative of the organization has a broker's license in his/her own name . If the designated officer's or partner's license is suspended, revoked or un-renewed, the organization's license will also be surrendered unless there is another officer or partner with a broker's license designated. In the case of death, disability, or severance of a sole designated officer or partner, an organization may continue with a broker's License for a period of one year from the date of the loss of the licensed officer or partner. The organization may also designate a new individual for the position if he or she is properly licensed. AU designated officers or partners and their relationship to the organization shall be, made known to the Board. No unlicensed person may act as a broker or salesperson for a licensed organization. In addition to conforming to all other sections of the license law, the organization shall pay a fee as determined by the Board and post a bond. No corporation, LLC, society, association, LLP or partnership is eligible for a salesperson's license.

A Limited Liability Company (LLC) or a Limited Liability Partnership (LLP) shall maintain professional liability insurance  in accordance with 254  CMR 2.00, #12. 

D.    A non-resident individual (or non-resident corporation for broker's license) may receive a broker or salesperson's license in the Commonwealth. The individual must:

1.     Conform to all sections of the license law.

2.     File with the board a power of attorney appointing the Chair as the individual's true and lawful attorney.

3.     The board may exempt from written examination any broker or salesperson licensed in another state if a similar exemption is given to licensed individuals from the Commonwealth applying for a license in said state. A non-resident licensee will not be required to have a usual place of business in the Commonwealth if one is maintained within the state where they reside.

E.    In order to be eligible for a license in the commonwealth, an applicant must do the following:

1.     To obtain a broker or salesperson's license, the applicant must take and pass a written exam given by the Board. An attorney of the Commonwealth is exempt from the exam but must still obtain their license.

2.     Applicants for a salesperson's license must complete a course approved by the Board prior to the exam. The course shall contain a minimum of 40 classroom hours of instruction. Exempt from this course would be an individual who has taken course in "real property" at an accredited law school in the state. Certification is valid for two years.

3.     Applicants for a broker's license must, prior to the exam provide proof that the individual has been actively engaged with a real estate broker for at least 3 years. The "apprenticeship" will include a minimum of 25 hours per week as a salesperson under the supervision of a broker. The apprenticeship must have occurred within two years of taking the broker's exam. An applicant for the broker's license shall also take another course in real estate with a minimum of 40 classroom hours.

4.     Unless the applicant is an attorney of the state or applying for a license as a non-resident, there is a one year residency requirement for the broker's license.

5.     An applicant for a broker's license shall post a bond in the sum of $5,000 through a surety company authorized to do business in the state. The bond shall be payable to the Commonwealth for the benefit of any aggrieved persons. The applicant must also show good moral character as evidenced by the recommendations of three unrelated, reputable people who live or work in the Commonwealth who will certify that the applicant has a reputation for honesty and fair dealings and that a license be granted to the individual.

6.     In the event of the death of a broker who is the sole proprietor of the real estate business, his or her legal representative or designated individual approved by the Board may be issued a license. In this situation, a bond must also be posted. The license is valid for only one year from the date of death of the broker, and is non-renewable.

7.     Applicants for a broker or salesperson's license must be at least eighteen years of age.

8.     Payment of prescribed fees. Any person who fails the exam may retake the exam if   license exam course certification is still valid and upon payment of prescribed fees.

F.     An individual's license has a two-year term being renewed on the licensee's birthday. In order to have the renewal date on the applicant's birthday, your first license will be valid for the number of months between issuance of the first license and whenever your next birthday occurs, plus two years. All fees are reviewed annually but are currently listed in Massachusetts License Law Section 87Z4.

 

G.    After January 1, 1999 all applicants for renewal of a brokers or salespersons license shall satisfactorily complete courses or programs approved by the Board. This Continuing Education requirement shall have been completed not more than twenty-four months prior to license renewal. The courses or programs shall be no less than twelve hours. 

At the time of renewal that applicant will certify that the requirements have been met in accordance with Board procedure. If at the time of renewal the education requirement has not been met the applicant may be granted inactive status. The inactive status will remain in effect until the applicant demonstrates completion of the requirement. An inactive broker may not practice but, may receive a referral fee from a licensed active real estate broker.

Each authorized school shall maintain records of salespersons or brokers for a minimum of three years of completion of the continuing education.

H.    There are situations where an individual does not need a license to sell or otherwise deal in real estate. The following is a list of those people who are exempt  from the license law:

1.     Any person who acts for himself as owner, lessor, lessee or tenant.

2.     Any person who is the regular employee of the owner, lessor, lessee or tenant, if the acts are performed in the, regular course of the management of the real estate or investment.

3.     Any person seeking to acquire or lease real estate for his or her own use or acting on behalf of a regular employee if it is part of his or her regular duties.

4.     Any person trying to negotiate or obtain a loan on real estate for himself or his or her employee, if it is part of their regular duties.

5.     A salaried managing agent or his/her regular employees, if it is part of his/her normal duties while working for the owner.

6.     A licensed auctioneer.

7.     A person buying or selling any stocks, bonds, or beneficial interest, in a trust.

8.     A public officer performing his or her official duties.

9.     A person who has power of attorney from the owner of real estate to act on their behalf.

10.  An attorney acting on behalf of his or her client.

11.  A receiver, trustee in a bankruptcy, executor, administrator, guardian, or conservator in the official course of their duties.

12.  A person selling real estate by court order.

13.  A trustee or his regular employees, if it is a normal part of their duties.

14.  Banks, credit unions, and insurance companies or their regular employees, if it is within their normal course of duty including real estate owned or leased.

 

 

    II.         Laws and Statutes

There are many other laws and statutes that the broker and salesperson must-abide by. The following is an outline of some of the miscellaneous laws with which each licensee should be familiar.

A.    Licenses are prohibited from placing "blind ads.'' These are ads that do not disclose the fact that you are a licensed broker. Brokers mi1st advertise "affirmatively" and include the brokers name in the advertisement Also:

1.     Individuals with a salesperson's license cannot place their own ads.

2.     There shall be no, discriminatory advertising.

B.    An individual with a salesperson's license must work for a broker and can have the status of an independent contractor or a regular employee.  In addition:

1.     A salesperson can only work for one broker at a time.

2.     A salesperson can only seek his or her fee or commission from the broker with whom he/she works. In other words, a salesperson cannot sue the seller or buyer, but he/she can sue the broker.

3.     Any broker who has a salesperson working for him/her shall be responsible for any violations of the License law.

4.     No person shall recover any fees for acts performed as a broker or salesperson unless he/she has said license.

5.     In  a  co-broke situation the second agent can be acting as a sub-agent of the listing agent or a buyer’s broker.  Any broker who is employed by another broker cannot hire a salesperson to work for him/her.

6.     A salesperson shall promptly notify the Board of any change of business address.

C.    Commissions are negotiable. Any commission, fee, or other consideration is by agreement between the parties, namely the seller or buyer and the broker.

D.    It is necessary that the broker or salesperson makes sure that the principals in a transaction understand with whom the licensee’s responsibility lies. Although the payment of a fee usually follows the agency relationship, this is not essential. Payment of a fee does not establish an agency relationship. To avoid a conflict of interest and confusion the Mass Agency Disclosure Law has been implemented.  The buyer has the right to hire a broker to work for him or her. It is also important to remember that if the licensee or any relatives of the licensee has any interest in the real estate being purchased, sold, or leased this fact must also be made known to all parties in writing.

E.    Any offers received by a broker or salesperson shall be immediately conveyed to the owner of the real estate, and all parties to a transaction shall receive copies of any contracts. 

F.     Any salesperson or broker employed by another broker shall immediately turn over any deposits to the employing broker. Unless agreed to in writing, the broker shall place these funds in a fiduciary bank account (escrow account) immediately. This escrow account, set up to handle funds' of clients may an interest bearing account. The broker will be required to ensure that the amount on deposit and interest are turned over to the appropriate persons, according to the contract's terms. The broker shall keep accurate records of all escrow accounts, including where the monies came from, date deposited, check number, date withdrawn and any other information concerning the transaction. The board has the right to inspect these records.

G.    All licensed brokers shall maintain a business address. If a broker is employed by another broker, the employing broker's business address shall be the address of record. In addition:

1.     If there is more than one broker at an address, the contractual relationship shall be forwarded to the  board.

2.     Licensed resident brokers shall display their licenses in a conspicuous place on the premises of the business.

3.     No individual may hold a broker's and salesperson's license at the same time.

4.     If a person is to sell real estate under a trade name, a certified copy of the business certificate from the city or town shall be forwarded to the board.

5.     A licensed salesperson must work for a licensed broker, and cannot be self-employed.

6.     Employing brokers shall notify the Board of all brokers and salespersons working for them. The notification shall include name, address, license number, and beginning date of employment. An employing broker shall also notify the board of any termination of licenses.

H.    It is illegal for a broker or salesperson to advice against the use of an attorney in any real estate transaction.

I.      Promotional sales of an interest in real property that is part of a land development located in another state shall be registered with the Board. "Real Property" shall include-land, building, fixtures, condominiums, cooperatives and time sharing intervals or an interest in any of the above Promotional advertising shall include any advertising material offered through any means of communication in the Commonwealth.

No interest in real property in a development which is part of a promotion shall be offered in the Commonwealth without a Massachusetts licensed broker who will notify the Board within seven days of accepting such a client. The broker on behalf of the owner/developer shall file an application with the Board along with prescribed fees. The application, along with any supporting documents shall be sworn to under oath and reviewed by the broker for accuracy and that any promotional materials reasonably portray the facts of the development.

The Board retains the right to inspect the development and the cost of such inspection shall be paid for by the developer. Any reports issued by the Board shall be kept on file for the time the development is registered plus one year by both the Board and the developer.

Once the Board registers an out of state property development for promotional sales in the, Commonwealth, this fact shall be included in all future advertisements in a form approved by the Board.

J.      A written notice to Prospective Tenants shall be given by the real estate broker at the time of the first personal meeting to the prospective tenant. This notice shall disclose that whether the tenant will pay a fee for such service, the amount of the fee, when and how it is to be paid and if the fee or a portion of the fee is payable even if the tenancy is not created. The notice, including the salespersons or brokers name and license number, the prospective tenant’s name, and the date the notice was given must be signed by both parties. If the tenant refuses to sign, that fact must be noted on the form by the salesperson or broker. A copy of the notice shall be kept on file for at least three years from date and files shall be available to the Board for inspection.

Brokers shall maintain all listings and documents pertaining to the availability of apartments at the time it was advertised for a period of at least three years from the date the apartment was rented.

Brokers shall maintain a copy of any check, money order or receipts for any fees or payments made by prospective or actual tenants for a period of three years. Brokers shall also maintain a copy of any check issued on an escrow account which they control for at least three years from date of issuance.  Unless a prospective tenant agrees in writing, a real estate broker cannot charge a fee if a tenancy has not been created.

K.    To provide instruction in real estate for the license preparation or continuing education classes a school has to be to be authorized by the Board. Application, with the appropriate fee, is to be made to the Board which approves the suitability of the location of the classes. Each location, which the Board may, limit, has to be authorized separately and the certification is to be renewed every two years.

Each school shall designate one individual as "authorized agent" who will be responsible for:

a.     Maintaining records of student names, attendance, and dates of completion and curriculum for at least two years.

b.     Verify only those students who have successfully completed any program or course with the appropriate hours receive Board approved certified forms or certificates of completion.

c.     Notify the board within seven days of any changes to address, phone number or the authorized agent of the school.

d.     Having only qualified instructors teach.

The Board may suspend, revoke or refuse to renew any school authorization if the school does not adhere to the regulations including:

a.     Fail to maintain records as required.

b.     Fail to provide appropriate notice to the board of any changes to address, phone number or authorized agent.

c.     Failure to provide Board with any requested information.

d.     Fail to use the exact name of the school in ads, postings or any medium of communication 

e.     Fail to have a qualified/authorized instructor teaching the appropriate curriculum.

f.      Obtained school authorization through fraud or misrepresentation

g.     Discriminate against any individual on the basis of age, marital status, gender, sexual preference, race, religion, socioeconomic status or disability.

h.     Fail to provide student with appropriate certification of completion.

i.      Provide certification of completion of any curriculum to someone who has not done so.

j.      Combining any part of the salesperson, broker, continuing education or instructor classes into one offering.

k.     Fail to offer Board approved curriculum

 

To become a Board Qualified Instructor and teach in an approved school an individual must:

a.     Hold a current brokers or salesperson license issued by the Board. (20 question test as Broker)  (120 question test as Salesperson)

b.     Have a minimum of two years work experience as a real estate broker involving at least 25 hours per week.

c.     Have co-taught or audited the curriculum in an authorized school.

d.     Have a minimum of 40 hours of instruction at an instructor training school approved by the Board

e.     The Board may issue an "authorization to act as an instructor" to anyone who has completed the above requirements or the equivalent as determined by the Board.

a.     An instructor may employ specialists to teach particular portions of the salesperson or broker curriculum who do not need to obtain authorization from the Board but not for the whole course.

Reciprocal Licenses

New Hampshire Requirements

With the housing market well on the way to complete recovery, many licensees making the move to become a real estate broker in New Hampshire. After all, one of the benefits of a forming a career in real estate is the control it allows you in shaping your personal success. The step towards becoming a broker is the beginning of an exciting new chapter in the life of a real estate professional. There is no need to wait for a promotion. A real estate licensee is able to simply make the decision to sign up for broker training and the state exam. Once this decision has been made, it may be only a matter of weeks before you are working as a New Hampshire broker. Real estate sales associates in New Hampshire who are ready to take the next step in their real estate careers can begin the process of becoming a licensed real estate broker by completing the state’s requirements for licensure.

Meet Basic Real Estate Requirements

  • Age: at least 18 years old

  • Experience: at least 1 year full-time, or 2000 hours part-time experience as a real estate salesperson

  • Courses: successfully complete 60 hours of approved real estate training courses

  • All active applicants need to submit a Surety Bond for at least $25,000

  • Inactive licenses do not need to provide the Surety Bond.

New Hampshire Reciprocal Agreements

Currently, the state of New Hampshire has reciprocity agreements in place with:

  • Massachusetts

  • Maine

  • Vermont

  • Tennessee

  • Georgia

Real Estate Broker Licensure Exam in New Hampshire

There are 2 parts of the New Hampshire Real Estate Salesperson Exam: national and state specific. National part has more questions and is more complex than state specific part. There will be such number of questions in each part of the exam:

National part: 100 questions (answer 70 questions correctly to pass this part)

State specific part: 40 questions (answer 28 question correctly to pass this part)

Time limit: 2.5 hours for the national part and 1.5 hours for state specific part or 3.5 hours when both parts together 

                           Maine Requirements

Becoming a real estate agent in Maine is a multi-step process that begins with fulfilling educational requirements. Real estate agents are offered plenty of freedom in their work, which is actually one of the major factors people consider when coming into this field. You may have more control over your schedule, and you may have more earning potential in this field than in another. There are many other reasons to consider becoming a real estate agent, including the desire to help fellow Maine residents move into their dream homes. This guide will help you become a Main real estate agent in just a few steps.

1. Meet Basic Real Estate Requirements

There are just two basic requirements you must meet in order to pursue a real estate career. In Maine, you must be at least 18 years old and possess a high school education or its equivalent. If you do not have your high school diploma, you should complete the process of obtaining its equivalent before taking your pre-licensing course.

You must also pass a criminal record check, which you are responsible for paying for. The cost of this check is $21 and is payable when you apply for your license. Having a criminal conviction in your background does not necessarily mean that you are unable to pursue a real estate career. The board reviewing your license application will take several factors into account, including the severity of the offense and how long ago it occurred. Overall, the committee must believe you to be a trustworthy and honest individual.

2. Complete a Sales Agent Pre-License Course

First, you must complete a 55-hour course with a grade of 75% or higher. This course will include all the information you need to begin operating as a real estate agent, offering you a sense of preparedness. The course will help you operate as a real estate sales agent in Maine, helping you become acquainted with the laws and practices associated with selling and buying homes.

The sales agent course is typically the best preparation for the real estate examination. The courses may be taken online or in a classroom setting depending on which method of learning fits in with your schedule best. The cost of these courses will differ from school to school, and you must ensure that the school you choose is accredited and accepted by Maine’s Real Estate Commission.

3. Pass the Real Estate Exam

All real estate examinations in Maine are given through Pearson Vue. You must make a reservation for your exam either by phone or through the Pearson Vue website. When you arrive at the testing center, you must bring your certificate of course completion, which is valid for one year after you pass the course. The test is administered in Bangor and Westbrook, so you may need to make additional arrangements if you live further away from a testing center.

In order to receive your real estate license, you must pass the exam with a score of 75% or higher. Your test will be administered via computer, so you can receive your score immediately and know if you have passed right away. Additionally, you must pass the exam within a year of completing the real estate pre-licensing course. If a year has passed, you may be required to take the course again.

4. Submit a Real Estate Application

The Maine Real Estate Commission handles all real estate license applications. The application and licensing fee is $121, which is not refundable. This includes the fee for the application, license, and background check. Checks should be payable through the Maine State Treasurer. You must submit your application within one year of passing the real estate examination.

Ensure that you fill out the real estate sales application accurately and thoroughly. You also must include your original examination results and certificate of course completion. Additionally, you must be sure that you are completely honest when you fill out the paperwork. Inadequate information may lead to a delay in the processing of your application.

It is also essential that you are honest about any criminal background you may have. The committee is going to find out about your history during the background check, and your application may be declined if you have lied about your history. If you are honest, your prior convictions may not necessarily hold you back. Honesty is the best policy here.

 Connecticut Requirements

Requirements for obtaining a Real Estate Broker license in Connecticut include:

  • Completion of the mandatory 60 hour Real Estate Principles and Practices course. As of January 1, 2014, Real Estate Sales Persons licencees who had completed a mandatory 30 hour Real Estate Principles and Practices course in the past will need to retake the full 60 hour mandatory Real Estate Principles and Practices course.

  • Completion of the mandatory 15 hour Real Estate Brokerage Principles and Practices course.

  • Completion of the mandatory 15 hour Legal Compliance course.

  • Having been licensed as a Connecticut Real Estate Sales Person for 2 years.

  • Completion of 20 real estate transactions (legal transfer of real property or execution of lease agreement) within the last 5 years or completion of 2 approved pre-license elective courses worth 15 hours each or completion of 1 approved 30 hour pre-license Appraisal course.

  • Applying for and passing the state exam.

  • Being at least 18 years of age.

 Rhode Island Requirements

This is a great place to begin the process of becoming a real estate agent in the state of Rhode Island, continuing on to become a Realtor assisting consumers to buy and sell.  The information provided details how to enroll in a real estate school, real estate training courses, continuing education, tests and requirements, license renewal information, forms needed and general information through theRhode Island Department of Business Regulation Real Estate Commercial Licensing Division.  
 

 Division of Commercial Licensing and Regulation issues the licensing and regulation of Real Estate salespersons, brokers and appraisers. Rhode Island real estate law requires examinations for all real estate brokers, salesperson, and real estate appraisers.  The Real Estate commission grants Licenses and Certificates to real estate schools for administering educational requirements and compliance.  In addition, the Real Estate Division has the authority to accept and investigate complaints against a Real Estate Agent or Real Estate Broker and/or Brokerage Firm.  This is carried out to maintain License compliance with Rhode Island State laws, rules and regulations to further protect the public at large.  

The Division of Commercial Licensing and Regulation of the Rhode Island Department of Business Regulation administers all licensing and regulation for real estate agents in Rhode Island.

To obtain a real estate salesperson license in Rhode Island, applicants must be at least 18 years of age and successfully complete at least 45 hours of real estate education through an approved school.  All applicants must also pass the real estate salesperson examination. There is a $70 examination fee and a $100.00 application fee when applying for the license, which includes a $25 Real Estate Recovery fee.  Registration for the examination including location and class policies can be found through Pearson VUE.


A Rhode Island Real Estate Agent must provide a statement verifying the salesperson applicant is competent, trustworthy and qualified to be granted a license.  The salesperson applicant also needs to provide references from three (3) property owners who have known the applicant for at least three years who will attest to the applicant's good reputation for honesty and trustworthiness. 

Applicants for a Broker's License are required to provide evidence of having at least one-yearfull-time experience as a real estate salesperson immediately prior to applying or having successfully completed 90 hours of approved classroom real estate courses.  Applicants who have a Bachelor's Degree with a major in real estate from an accredited college or university may have the education requirement waived.  All applicants must pass the Real Estate Broker examination.  There is a $10.00 application fee for a Broker's License.

Continuing education requirements.  In order to renew their license every two years, all Agents and Brokers must complete 24 hours of continuing education credits.  All 24 credits must be obtained through specific, approved real estate courses.  Of the 24 required credits, 6 must be core classes approved for continuing education. 


The renewal fee for a broker license is $170.00 for two years, and a salesperson license is $130.00 for two years. This renewal fee must be paid by the expiration date of April 30th in even-numbered years.  Effective July 30, 2004, the fee for late renewal of either a salesperson or broker license is $100.00 in addition to the license fee. 


Rhode Island has reciprocity agreements for either a salesperson or broker license with Connecticut and Massachusetts.  The applicants need to be a resident of one of these states, licensed by examination, and in good standing.  Their fees are the same as Rhode Island resident agents, plus an additional $25.00 payable to the Real Estate Recovery Account.  Non-resident licensees must carry and maintain Errors and Omissions Insurance.  Non-resident reciprocal license applicants need to meet the continuing education requirements of their home states, rather than those of Rhode Island. 

Real estate careers reach beyond obtaining a real estate sales person's license.  Affiliations and membership with the many other real estate related organizations like the National Association of Real Estate Brokers (NAREB), The Association of Real Estate License Law Officials (ARELLO) and The National Association of Realtors (NAR), the world's largest professional association, are excellent resources for real estate education and professional enrichment.

Upcoming class schedule



June 22nd.....Massachusetts Real Estate Broker's Class via ZOOM

starts 5pm-10pm for  8 days


Massachusetts Real Estate Salesperson Video/Audio Class starts NOW!!  Go at your own pace!!!  Click on Courses for more info.


Career Opportunities

You will find that almost 100% of the Real Estate Industry is hiring part-time and full-time agents. Just remember that the more they hire, the more money they make. Real Estate is a commission based job where you are not an hourly salary employee but you are a 1099 wager employee which means when you “sell”, you make money. Everything is based on commission in which at the end of the year at a real estate office that you are employed at, you will will receive a 1099 statement for tax purposes.

The license you have is a “salesperson’s” license which means upon passing the exam, you have to work for a Brokerage Office whether it be a Century 21, Re/Max, Coldwell Banker or even a small local brokerage.

You will be interviewed by either a Manager or a Broker Owner and it will be determined if you are a good fit for their office.

They will put you on a certain commission split and go over the policy and procedures of their office plus the fees related to their office and the Real Estate Board.

Some of the key things you want to look for would be what is important to you!

Whether it be training, fees or convenience …your choice will be an important one!!


If interested in working for a Century 21 North East office near you…


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