Are you looking to become a real estate agent? Are you looking for the best information on how to become a professional and licensed real estate agent in Massachusetts? Well, here is what you need to know.
Coursework And Exam
First, you need to complete the 40 hours coursework at a real estate school approved by the state. Once the coursework is finished, you are awarded with a certificate of education and the next step is doing the licensing exam. Here, you should provide the certificate of education to prove that you did the recommended coursework and also a list of 3 references continuing ed
To become a licensed real estate agent, you need to pay the fees for the exam, take it and pass. Once you are done with the coursework and have passed the exam, you can start practicing your realtor skills by working closely with sellers and buyers through the whole transaction.
What’s The Price For Getting A Real Estate License?
To get through the whole coursework and exam to become a licensed realtor in Massachusetts, you need to pay about $500. For the coursework, you will pay an average for $300. For the exam, the fee is $101. If you are forced to retake the exam, you will pay an additional amount of $56 per retake. Finally, the licensing fee comes to around $103 to $150.
However, there are other costs that come into play beyond those outlined above before you can actually start providing your services as a licensed real estate agent.
1. The E&O Insurance (Error And Omissions) It is not mandatory to pay for the policy but real estate agents in Massachusetts are recommended to have it. You need to pay about $700 each year to make the policy active. There are some real estate brokerages that cover the cost of the insurance policy for their agents, so if you find one you might not have to pay the amount out of your pocket.
2. MLSpin (MLS Property Information Network) MLS is a regional multiple listings service where you can get the first access to any properties on sale or rent in Massachusetts. Therefore, if you want to become a successful real estate agent in the state, you need to pay $400 every year to be a part of the MLSpin. Remember, if you are not part of the network, you might have a hard time sharing your listings with any other real estate firms in the state.
How To Begin Your Career As A Licensed Real Estate Agent
Now that you are licensed, the first step is looking for a mentor, preferably someone who has been in the industry for a while. On the other hand, you can always study or shadow the top real estate agents in Massachusetts to learn more about the trade. If you want to land a solid job in any real estate brokerage firm, you need to send your resume to all the firms and attend as many interviews as possible.