Maryland Real Estate Requirements
Article Summary: This article provides knowledge of real estate licensee requirements within the state of Maryland. For anyone who wishes to understand what is necessary to become a sales agent in the real estate industry when it comes to prequalifications, educational hours, examination, and links to forms and fees.
The Maryland Real Estate Commission (MREC) is part of the Maryland Department of Labor and is responsible for regulating all real estate licensees within the state and to serve consumers as well. MREC’s aim is to uphold and apply the governing real estate regulations and laws through examination and licensing.
In order to be prequalified to apply for a real estate license, one must be at least 18 years of age. According to the Commission, a person should be of good character and reputation as well.
Each applicant is required to successfully complete an approved 60 hours of pre-licensing salesperson course. Approved educational providers are listed on the commission’s website. Afterward, a course final exam is given and has a minimum passing score of 70%.
Within one year of completing the course, an individual must take and pass the Maryland salesperson licensing exam. The national portion of the exam includes 80 questions and a 90 minute time limit, and the State portion is 30 questions with a 30 minute time limit. More information can be found through PSI who administers the exam for Maryland.
If a person wants to practice when they are licensed, they must be affiliated with a sponsoring broker. All forms, applications, and fees can be found here.
When it comes to obtaining a broker’s license, an applicant needs to be an active licensee for at least three years before applying with no beaks in active status. A 135-hour course from an approved education provider is part of the requirements.
The renewal license cycle for MD is every 2 years. There are 15 total hours of continuing education required.
Maryland Real Estate License Requirements
If you’re considering obtaining a real estate license in Maryland, it’s important to know the licensing requirements before you begin the process. According to the General Assembly of Maryland’s Department of Labor, Licensing & Regulation (http://mgaleg.maryland.gov), which oversees real estate licensing in the state, there are five qualifications for becoming a Real Estate Salesperson.
Licensing applicants should exhibit good character and reputation. A criminal record could prevent someone from obtaining a license due to safety and legal concerns. All applicants must also be at least 18 years old in order to enter into the legal contracts associated with selling real estate.
There are certain education requirements associated with licensing. Applicants must complete 60 hours of real estate courses, including a 3-hour course in the ethics involved in real estate. These classes may be taken in a variety of ways including traditional classroom instruction, online, and home study. The State Commission also allows applicants to use the completion of other courses, such as college real estate classes, for the education requirement. In these cases, the coursework must include the 3-hour ethics course. Commission approval is also needed.
Once the personal and education requirements have been met, candidates must pass the state examination to prove they have the knowledge necessary to complete real estate transactions in a legal and ethical manner. There are two parts to the exam – state and national. The minimum passing score for each section is 70%. There are several locations within the state where applicants can take the test, which is administered by PSI Examination Services.
The final step in receiving a real estate license from the state of Maryland is to obtain a commitment from a licensed real estate broker promising that he or she will work the applicant once the license has been granted. This ensures the state that the new salesperson will be affiliated with a veteran real estate expert who can mentor the new professional.
Besides these stated requirements for licensing, the state also mandates that candidates for licensing adhere to any further regulations developed by the Commission.
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!