Maine Real Estate Requirements
Article Summary: Contents may include general knowledge of real estate license requirements for the state of Maine. Summaries within this article can help a person seeking to understand the steps to take to obtain a sales agent real estate license including education, examination, fees, continuing education and more..
The Maine Real Estate Commision is responsible for governing all licensing, exams, and continuing education for the real estate industry within the state. Their goal is to ensure all real estate licensees conduct themselves in a manner that meets standards and protects the public interest.
The basic requirements to start the process of obtaining a real estate sales agent license in ME, include being at least 18 years old and obtaining a high school diploma or equivalent. Each license applicant will also need to be able to pay for and pass a background check ahead of time.
There are 55 credit hour courses that are necessary for Maine’s Real Estate License education. These courses can be taken either online or in person. The school must be accredited and accepted by the MREC and are listed here.
After an individual passes the course program at a 75 percent or higher, they take the Final Real Estate License Exam through a Pearson Vue testing center within the state. The certificate of course completion must be brought to the testing enter in order to take the exam itself.
Once the background check is passed, the courses are complete, and the exam is passed, a person is then required to submit an application that comes with a fee of $121.
After the license is issued, in order to keep a license in good standing, continuing education is required every 2 years. Sales agent licenses are non renewable. For one to obtain an associate broker license, it is required that a person be licensed as an active Sales Agent affiliated with a real estate brokerage agency for 2 years within the past 5. The Associate Broker Course of 60-hour Associate Broker Course (plus Documented Field Experience form) must be complete and passes with a minimum final grade of at least 75 percent.
Both sales agent and associate broker licensees are required to be affiliated with a licensed real estate agency to be eligible to perform brokerage services. A biennial renewal fee for an active license is $100 and the continuing education requirement is 21 hours of commission approved CE.
Furthermore, to obtain a Broker License, an applicant must have been licensed as an Associate Broker with a real estate brokerage agency for 2 of the past 5 years and pass the Designated Broker Course with a final grade of at least 75 percent as well.
Maine Real Estate License Requirements
To earn a real estate license in the state of Maine, individuals have to first complete a qualifying education course administered by the Maine Real Estate Commission, then pass an exam upon course completion, and finally, can submit an application for their real estate agent license.
There are different real estate positions that individuals can hold, and they each have specific education and application requirements.
Real Estate Agent: This is the general term for anyone who has earned a real estate license. In Maine, a real estate agent is someone who can list a house for sale; promote the purchase, sale, or exchange of real estate; and buy or advertise oneself as being able to provide these services. Real estate agents have to take a real estate course and then pass a real estate agent exam.
Real Estate Broker: A real estate broker is someone who has taken additional courses beyond that of a real estate agent. They have to pass a broker’s license exam and are qualified to work alone as their own business or they can hire agents to work for them.
Real Estate Agent Requirements
General requirements for becoming a real estate agent are:
- High School Diploma or equivalent
- 18 years of age or older
- Completed application
Additional requirements include:
- Completion of the real estate agent license course and earning a final grade of 75% or better; times and availability are listed here
- Pass the real estate agent license exam with a grade of 75% or better within one year of completing the real estate agent course.
Applicants must also pay a $100 application fee, as well as a $21 criminal records check fee. Once obtained, the license lasts for two years before it needs to be renewed. Interested individuals can apply online or download the required forms, print them, and send them via mail.
Real Estate Broker Requirements
The requirements for becoming a real estate broker are the same as listed above, except individuals must have already completed the real estate agent course, and are required to take a qualifying real estate broker course as well as pass a real estate broker exam. The fees for the license are the same as those for a real estate agent.
Disclosure :: Please be aware that these requirements change from time to time, we do our best to monitor the changes but it is always best to go to the source to confirm the requirements!