How To Become A Real Estate Agent in Massachusetts
Working as a real estate agent comes with many advantages. Many agents who decide to start their journey of becoming real estate agents in Massachusetts start on the quest to build a business that offers more of a flexible schedule.
Others want to simply break the glass ceiling and enter a career that rewards them for all the hard work and effort they invest into it. If you are tired or feel stuck in an unrewarding job now might be the perfect time to chase your goals and become a real estate agent.
Do you have what it takes to work as a Massachusetts Real Estate Agent? If yes, let’s dive into the basic steps of Getting your real estate license in Massachusetts.
How To Become A Real Estate Agent In Massachusetts
Must be 18 years old and have a social security number.
Complete your 40-hour Massachusetts pre-licensing course either in person or online.
Submit your proof of completing the education and apply to take the real estate license test.
Pass the final exams.
Pay $150 to obtain your real estate license.
Pick a sponsoring broker.
Choose Your School And Sign Up For Classes
Before you can start listing million-dollar homes the very first step toward getting your Massachusetts License is choosing your classes and completing the mandatory educational requirements set by the state to become a real estate agent.
Massachusetts Real Estate Classes
Get ready for some classroom time! To become a licensed real estate agent in Massachusetts you must first complete your state’s mandatory education requirements. In total, you will be required to complete 40 hours of state-approved courses for pre-licensing.
There are plenty of schools where you can complete your 40-hour class time. The state of Massachusetts requires you to take your classes at an approved school either in person or online. After completing the course, you will be given a certificate that you will have to show before sitting for the examination.
You may go for online, in-person, or live stream classes depending on your schedule. If your school is offering flexible timing, you’ll be able to prepare for your test even with a full-time job.
Keep in mind you must score a 70% or higher on each final exam. So, it is important to pay close attention in class.
What Will I Learn In My Pre-License Classes?
I remember sitting in my real estate pre-licensing class. For many, real estate is like learning an entirely new language. In class, you will learn many new things. One of the most important is state laws as they relate to you as a real estate agent.
This will help keep you out of legal trouble once you get out in the field and start practicing real estate. Here are some subjects you will learn about in real estate school.
Real estate math.
Land use laws and regulations.
Fair Housing laws.
Real Estate Financing.
Contracts.
Transfer of title.
Brokerage relationships.
Massachusetts real estate laws.
Property Disclosures.
Property analysis.
License law.
Ethics.
Agency Laws.
To become a licensed real estate agent in Massachusetts, you must first complete your state’s mandatory education requirements. In total, you will be required to attend 40 hours of state-approved courses for pre-licensing.
Schedule Your Massachusetts Real Estate Salesperson License Exam
After finishing your classes you are eligible to appear in the Massachusetts examination which is conducted by PSI Exams. You can take the test either in person or online at your home. This is a multiple-choice paper consisting of 120 questions and you will have four hours to finish the test.
Here are some important things to do before the exam.
Submit your certificate of completing the course
Provide three character endorsements from three different people
Pay $31 and $54 as your application and exam fees respectively
Current PSI Test Locations in Massachusetts: Testing Locations
Get Your Real Estate License
As soon as you pass the exam, you will be notified and get your license on the spot. While if you were taking your test online, you will have to come to the test center to obtain your real estate license. The fees for the license vary between $103 and $150 depending on your age.
If you fail the exam, you can retake the test any time and as many times as you want. But you will have to pay a $54 exam fee.
What Is The Best Way To Study For The Massachusetts Real Estate Exam?
Many people fail the Massachusetts real estate exam the first time around. This is ok. Many of the great real estate agents having huge success today failed their exams the first time around. The bad news is that it costs money to retake your exam.
At the time of writing it costs $235 to take the Massachusetts Real Estate exam including application, exam, and license fees. To increase the chances of passing your exam the first time we recommend checking out Prep Agent. This study tool gave me and many other agents a huge boost in confidence when taking the real estate exam.
In fact, Prep Agent is so confident in their study tool that they offer a 100% refund if you use the tool and fail your real estate exam.
What Do You Need To Bring When Taking The Exam At A Testing Center?
Don’t show up on test day only to be turned down. You will need to bring two forms of identification that have not expired and have a matching name and signature. One form of identification must have a photo to qualify.
Here are some examples of acceptable identification.
● Drivers license.
● US social security card.
● Passport.
● Debit Card with Signature.
● Credit Card with Signature.
● Green Card.
You are allowed to bring a basic non-scientific calculator that can be used for the math portion of the exam.
How Long Will I Have To Complete The Massachusetts Real Estate Exam?
You will have four hours to complete the test. There are two portions to the exam:
Number of Questions on Salesperson’s License Exams:
● National – 80 questions.
● State – 40 questions.
● Total- 120 questions.
The Massachusetts Real Estate exam is split up into two real estate exams; one state and one national. Students often complete their exams early.
Pass Or Fail – How Long Does It Take To Get Results?
Taking the real estate exam can be nerve-racking. Once complete we all become anxious and want to know if we passed or failed the big test. The good news is that you will know the results immediately after you complete your exam.
Can I Retake The Real Estate Exam If I Fail?
Yes, if you fail you can retake the real estate exam. First, you must submit a new registration form and the $54 testing fee to schedule to take the test again. But stay positive, many agents have failed the real estate exam multiple times and have gone on to have very successful careers.
How Long Does It Take To Become A Licensed Real Estate Agent In Massachusetts?
You should expect the process to take about 2 to 3 months to become a Massachusetts Real Estate Agent. You need to complete your 40 hours of real estate pre-license classes which can be done within a week too.
Aside from just completing your real estate classes and studying you will need to spend your time doing other important things like interviewing brokerages and deciding which one is the right fit for you and your new business.
This is just an average timeframe. Keep in mind everyone works at a different pace. If you are taking some of your courses online you may be able to work through the course a little faster or a little late.
Either way try not to overwhelm yourself and focus on getting further along in the process each day. Keep the focus on working toward your goal little by little each day.
How Much Does It Cost To Get A Massachusetts Estate License?
It will cost around $650 to $ 700 to get your real estate agent license. The different costs include:
Real estate classes – $250-$350.
Test application – $31.
Test registration – $54.
License fee – $150 (maximum).
Prep material – $100.
Total Massachusetts real estate license cost estimate $700.
Note: These are just averages and are subject to change at any time.
Sign up for Massachusetts Real Estate Classes Here: Real Estate Express
Does Massachusetts have reciprocity with any other states regarding a real estate license?
Although different states have different rules, you can still practice in Massachusetts if your license is from another state. Massachusetts has complete reciprocity with some of the states, and they are:
Colorado.
Connecticut.
Georgia.
Iowa.
Mississippi.
Nebraska.
New Mexico.
Pennsylvania.
Rhode Island.
Tennessee.
West Virginia.
How To Choose The Right Brokerage?
Selecting your broker is a business choice that we all have to make at some point in our careers. As a new agent, you likely do not know what to look for or what questions to ask. As an experienced agent who has worked at multiple offices here are some things to consider.
Training- This is important. One of the biggest complaints I hear from new real estate agents is how lost they often feel. Many times they feel the brokerage they choose to partner with has poor mentorship or even worse no mentorship at all. When interviewing brokers it is important that you ask if they have a mentorship program in place for new agents. If the answer is yes make sure you dig deeper and ask how the program works. What are the expectations for the new agent and what are the expectations for the mentor. You need to find out how much support and training they actually provide.
Splits- Every brokerage offers a different compensation model and as a new agent this is important to consider. However, do not make this your main focus. I see many new agents make commission splits the main reason they choose a brokerage. This can be a huge mistake. Focus on what kind of value and training is being offered for that split. The harsh truth is that 100% of nothing is still nothing.
On-going monthly fees- Some brokerages charge monthly fees to stay a part of the company. This is something to consider if you have a small savings account. As a new agent, you might be looking to stretch your dollar until you get a couple of closings under your belt. Joining a company with high ongoing monthly fees can put a dent in your savings account.
Commission Cap- This is in the same boat as commission splits in my opinion. As a new agent, this should not be your main focus. You should be focused on support and training. However, as a business person, it is a question you should be asking. Some brokerages will cut off your commission fees once you “cap”. Every brokerage and market is different but on average we have seen the brokerage cap between 14k-21k. Once you pay that amount into the brokerage your commission will shift to 100% in some cases with a small broker transaction fee.
Conclusion
Becoming a real estate agent in Massachusetts is something worth working towards. To make this all happen is going to require work and consistency but if you love the idea of selling homes in Boston, Worcester, or any other city in Massachusetts, it is worth all the effort and hard work to make your dream become a reality. Study hard and do not quit even if you fail your exam the first time around. Many of the greatest agents I know today in my local market did not pass the exam the first time around.