Looking to get your Mass real estate license? Here's everything you need to know.
If you're looking for information about becoming a licensed real estate salesperson in the state of Massachusetts, look no further. Full disclosure, this article is geared more for people looking to get licensed and work in and around the city of Boston. However, we've got some good information about the process for anyone in Massachusetts, as well.
This article will cover:
- What you need to do: the requirements and associated costs for obtaining your real estate license in Massachusetts.
- Information and recommendations: the best approved real estate schools that offer "pre-licensing" courses.
- Career opportunities: to help you choose where to start your career after you've gotten your Mass real estate license.
Let's get started!
How do you get a real estate license in Massachusetts? Coursework + exam.
Plain and simple, here are the requirements:
- Complete 40 hours of "pre-licensing instruction" through a state-approved real estate school
- Assemble the required materials for taking the exam, including your certificate of education from an approved school and three "endorsements" (references)* to provide when you go to take the licensing exam.
- Take the salesperson's exam.
- Pass the exam.
- Pay some fees.
* See page 6 of this handbook from Pearson VUE (the administrator of the exam) regarding requirements for taking the exam.
That's it! Pretty straightforward. The trick is making sure you sign up for the right pre-licensing class. There are good schools and good instructors that you'll want to seek out. We can help you there.
What does it cost to get your license? About $500.
All in, the cost of getting your real estate license in Massachusetts is about $500.
- Pre-licensing course: ~$300 (ranges between $250 - 400).
- Exam fee: $101 (and $56 if you need to retake the exam)
- Licensing fee: between $103 and $150
Beyond getting licensed, there are some other costs that come into play as well:
- Error and Omissions (E&O) Insurance: ~700/year — E&O insurance isn't mandatory, but it's definitely recommended for real estate agents. Some real estate brokerages will cover the cost of E&O insurance for their agents, so it's definitely worth asking if/when you're interveiwing.
- MLS Property Information Network (MLSpin): ~$400/year — If you're working in real estate, you'll absolutely want to become a member of the regional multiple listings services (MLS). Otherwise, you'll be missing out on accessing properties offered for sale/rent in Boston and you won’t be able to share and market your listings to other real estate firms.
The best schools for pre-licensure courses in Boston?
Freedom Trail Realty School is a licensed real estate school that offers pre-licensing classes in Boston, as well as online real estate continuing education classes. They're conveniently located in downtown Boston by public transportation.
Will Henchy, the head instructor, is arguably one of the best real estate instructors in Massachusetts and certainly in Boston. Between the awesome location and Will's great teaching approach, Freedom Trail is definitely a great selection for aspiring real estate agents looking to work in the Boston area.
The Lee Institute has been in the business of offering courses in preparation for the real estate license examinations for 58 years. Bottom line, they know their stuff and have top-notch instructors. Located in Brookline, MA, they're a little trickier to get to than schools based in Boston, but they're worth the trip for sure!
Michael Albano, the instructor at MSRE, is a consummate professional with years of salesperson and broker experience. He knows real estate through and through. The school is located in Somerville, making it really convenient to get too. Definitely would recommend checking this program out!
Here's Michael's philosophy on teaching and his pre-licensing course:
"Michael draws upon many anecdotal real estate experiences and uses a fast-paced PowerPoint presentation-driven format to create a highly interactive educational experience sure to increase your retention. Michael’s approach also includes studying and test-taking strategies to prepare you for your exam to make sure you pass."
Address: 490 Broadway, Somerville MA 02143
Other Options in the Boston Area
- Bremis School of Real Estate — Somerville, MA
- The Cambridge Real Estate Collaborative — Cambridge, MA
Where to start your career in real estate.
Inman News is the source for news and updaets on the real estate industry. They actually have a great article on tips for new agents. The tips that focused on getting started with your career are:
- Find a mentor
- Shadow or study top agents
- Interview at many firms, and consider negotiating on commission splits
At Jumpshell, we were pumped to read this article, because our Jumpshell Mentor Program checks all those boxes for new agents. We offer newly licensed agents the opportunity to start off with a 60/40 commission split (vs. the 50/50 split at traditional brokerages), while shadowing a top-producing agent in the market. Click the image below for more info!
If you thrive more in a "sink or swim" kind of environment, then a traditional brokerage will be a good option for you. Some good options there include: