There are two levels of real estate licensing in Massachusetts: Real Estate Broker and Real Estate Salesperson. Individuals must be actively licensed as salespersons for three years prior to becoming brokers.
Candidates for either license must complete the mandatory 40-hour course offered through an approved school. Students who finish will receive the Examination Candidate Information Bulletin certifying their education and containing the application for licensure. Individuals have up to two years to pass the examination. The examination fee is $85 for the salesperson candidate and $106 for the broker candidate.
Students should continue to study. It may take up to four weeks for PSI to review and approve the applicant, who may then schedule the examination. The Commonwealth of Massachusetts will issue its license at the test center to individuals who successfully complete the examination.
The cost of this first license includes a $12 PSI licensing fee plus a Massachusetts licensing fee that is prorated to fall in the following range: $103 to $150 for salesperson and $142 to $200 for broker (exact amount to be known on exam day). Those who fail may re-take the examination any number of times before the two-year expiration. The re-take fee is $54.
From this point, the Massachusetts Division of Professional Licensure and its Board of Registration of Real Estate Brokers and Salespersons will govern the licensee's professional activities. Welcome to our world.
The Bill Morgan Real Estate Academy presents its popular program over two weekends every month. Busy adults and others satisfy the 40-hour requirement over 4 days. As mentioned above, students will receive the needed handbook explaining the examination and containing a short application form. Our long days do include breaks and one hour for lunch. The cost is $349.
See you in class!
The Commonwealth of Massachusetts has hired an independent testing service, PSI Services LLC, to administer its licensing examinations. Visit the link below to find out about examination center locations, preparation, study aids, and more.
CompuCram® is a comprehensive examination preparation system unlike anything else on the market. It combines vocabulary drills, practice tests and a simulated exam with a progress gauge showing your level of preparedness for the licensing exam.