Are you interested in entering the real estate industry? Becoming a Massachusetts real estate agent could be the best decision of your life. It was for me thirty-six years ago!
There are definitely pros and cons to becoming a real estate agent. The benefits are working your own hours, working independently or as part of a team, being your own boss, and having unlimited earning potential.
On the other hand, breaking into the real estate sector is not easy. Earning a good income can be difficult for the first few years while you are trying to establish yourself. While you make your own hours, you are also available 24/7.
Working nights and weekends go hand in hand with becoming a real estate agent in Massachusetts or anywhere else for that matter.
We are going to look at the exact process to become a real estate agent in Massachusetts.
You will also learn how to become a Massachusetts realtor, which I highly recommend! Being a real estate agent means you want to uphold the highest ethics for your real estate clients and associates.
If you have big ambitions, you can find out how to become a real estate broker in Massachusetts.
Many people hear the words real estate agent and real estate broker and think they are the same thing. They are not!
See the difference between a real estate broker and an agent at Maximum Real Estate Exposure.
Let’s find out what you need to know.
Steps to Become a Massachusetts Realtor
The process to become a realtor in Massachusetts can take anywhere from 30 to 180 days. It will depend on whether you are taking courses full-time or part-time. Here are the steps you will need to follow to get a bulk license.
- You will need to be at least 18 years old and have a valid social security number.
- Take the 40-hour Massachusetts real estate course taught in person or online.
- Apply for the Massachusetts licensing test using your real estate course completion certificate.
- You will need to pass the 120-question license test in person or online.
- You will need 3 independent people to guarantee your character becomes an agent.
- Massachusetts requires a payment of $150 for your real estate license, including having your photo taken.
- You will now be able to apply for a job with a Massachusetts real estate agency.
Where are the testing sites to become a real estate agent in Massachusetts?
- autumn river
- West Springfield
What to Know About Passing the Massachusetts Licensure Exam
The most crucial phase in becoming a Massachusetts real estate agent is passing the exam.
The Massachusetts Real Estate Exam consists of 120 questions, divided into two sections: the National Section, with 80 questions, and the Massachusetts Real Estate Law Section, with 40 questions. Candidates must score at least 70% on both sections to pass the exam. If candidates fail a section, they will only have to retake that section, not the entire exam.
You have two years from the date you complete your 40 hour course to take and pass your real estate exam. This gives you plenty of time to study and prepare.
The real estate test is conducted by PSI Exams, which oversees all licensing exams in Massachusetts. After completing the course, you will apply to take the tests with them. They will confirm that you have completed the 40-hour course and perform a background check before letting you register to take the test online or at one of their in-person test centers.
Usually, you can get an exam date a few days after your application is approved. PSI offers the exam most weekdays and weekends. Real estate tests can be taken in person or online.
The real estate exam is entirely multiple-choice and you can review your answers before finishing. You can take breaks during the test to use the restroom, but remember that you have four hours to complete the exam and any breaks you take will count towards your time. However, it is highly unlikely that you will need full time to take the test.
How much does it cost to become a Massachusetts real estate agent?
Getting your real estate license in Massachusetts will cost around $600.
The cost of obtaining your Massachusetts real estate license can vary depending on the courses and exam preparation materials required to meet state requirements and pass the exam.
However, some costs are fixed, such as exam fees and application fees.
Massachusetts Real Estate Brokers to Talk to After Getting Your License
Now that you’ve passed the test and have your Massachusetts real estate license, you can start interviewing real estate brokers. Some of the largest and best known real estate franchises are:
- 21st century
- Banker Coldwell
- Keller Williams
- red fin
- Real estate executives
- Leaving real estate
- Sotheby’s International Realty
- Best Real Estate Homes and Gardens
- Guillaume Raveis
There are also a number of independent real estate companies in Massachusetts that you could talk to. When starting out as an agent, joining a company with a great training program for new agents is helpful.
You need to renew your Massachusetts realtor license
As a Massachusetts realtor, you must renew your license every two years. You will need to complete an additional 12 hours of continuing education to renew. You can take your continuing education courses online. There is no test required!
Benefits of Becoming a Massachusetts Realtor
Becoming a licensed real estate agent in Massachusetts has many benefits.
The most important benefit of becoming a licensed real estate agent in Massachusetts is that it allows you to legally practice real estate in the state.
Being a licensed real estate agent in Massachusetts also has several other benefits. For example, it allows you to join a professional organization such as the Massachusetts Association of Realtors, which provides its members with access to resources, training, and networking opportunities.
Additionally, being a licensed agent can give you access to higher commissions and other financial incentives offered by some real estate companies. How much you earn in real estate will be determined by several factors, including the time and effort you put into building your business.
The price level in the local real estate market will also be a factor. Annual realtor commissions can vary depending on the volume of sales you produce combined with the commission breakdown of the company you work for.
Become a Massachusetts Realtor
It is essential to understand that a real estate agent is different from a real estate agent. Many people don’t know this because these real estate terms are constantly used as synonyms.
To become a real estate agent, you must be a member of the National Association of Realtors and pay an annual fee. As a real estate agent, you have also agreed to abide by a strict code of ethics. I am proud to say that I have been a real estate agent throughout my thirty-six year career in real estate.
Becoming a Massachusetts real estate agent is a big goal to achieve in life. If you love working with people, you’ll probably love being a real estate agent and eventually a real estate agent.
If I can answer any questions, please don’t hesitate to contact me.
Did you enjoy this real estate article? See other real estate articles written by Bill Gassett on News Break for more timely tips and advice. Bill often writes about general real estate, mortgages, finance, moving and home renovations.