Wondering how to get a Maryland real estate license and launch a new career in today’s fast-paced real estate market? We’ll walk you through the four easy steps, which include 60 hours of prelicensing education, passing Maryland’s real estate exam, applying for your Maryland real estate license, and finding a brokerage to hire you.
We’ll also share some quick facts about the Maryland real estate exam, review the costs of getting your Maryland real estate license, and answer some frequently asked questions about how to get a real estate license in Maryland. Let’s get started!
How Much Does It Cost to Get a Maryland Real Estate License?
You can obtain your Maryland real estate license for less than $400. Compared with the cost of technical training programs and college degrees, $400 is a real bargain.
Maryland Real Estate License Costs
|Prelicensing Classes (60 hours)||$199 through Real Estate Express|
|Test Prep Materials||$59 through Mbition|
|Maryland Real Estate Exam Fee||$44|
|Maryland Real Estate Salesperson License Fee||$90|
(Maryland Real Estate license costs as of October 2021)
How to Get a Maryland Real Estate License in 4 Easy Steps
To be eligible for a Maryland real estate license, you need need to be at least 18 years old and of good character and reputation.
Step 1. Complete a 60-Hour Prelicensing Course
Cost: As low as $199 with Real Estate Express
Time commitment: Two to three weeks if taking a self-paced course; one month if taking in-person courses
Helpful resource: 5 Best Real Estate Schools in Maryland for 2021
The first step in getting your real estate license in Maryland is to choose a school. The Maryland Real Estate Commission provides a spreadsheet of all the authorized real estate schools in the state, as well as the pass rate for each school. To narrow your search, you can refer to our buyer’s guide of the 5 Best Real Estate Schools in Maryland for 2021.
It’s important to realize that working as a real estate agent is more about contracts and finance than landscaping and staging. Here are the basics of what your real estate prelicensing course will cover:
- Property ownership
- Land use controls and regulation
- Valuation and market analysis
- General principles of agency
- Property disclosures
- Leasing and property management
- Transfer of title
- The practice of real estate
- Real estate calculations
- Duties and powers of the real estate commission
- Licensing requirements
- Brokerage relationship
- Business conduct
This list of subjects may look intimidating, but the State of Maryland wants knowledgeable real estate agents to oversee transactions that are hundreds of thousands (or millions) of dollars, so you need to be expertly trained. Most people choose a Maryland real estate school based on cost and class format. Here are the most popular options.
|Types of Instruction|
Step 2. Pass the Maryland Real Estate Salesperson Exam
Time commitment: Two hours (arrive 30 minutes early to the testing site)
Helpful resource: 7 Hacks for the Real Estate Practice Exam
Once you’ve completed your 60 hours of coursework, your real estate school will send the necessary documentation to PSI, the testing company that Maryland uses to administer the state exam.
PSI will email you instructions on how to schedule and pay for the exam. Your eligibility to take the exam expires one year after you’ve completed your real estate prelicensing course of study.
You’ll know whether you passed or failed the Maryland real real estate exam immediately upon completion. If you passed, your next step is to apply for your license. If you didn’t pass, you’ll need to use the detailed score report to learn which topics you’ll need to study further. Then, you’ll need take the Maryland real estate exam again.
Step 3. Apply for Your Maryland Real Estate License
Time commitment: 30 minutes
Helpful resource: Maryland Real Estate Commission website
Once you pass the Maryland real estate exam, your next step is to apply for your Maryland real estate license. You can do so online by completing the Maryland Real Estate Commission application form. You must submit $90 with your application. You have one year from the date that you passed the exam to apply for a Maryland real estate license.
The Maryland Real Estate Commission website says that applicants must be of good character and reputation. Before approving your license, they’ll examine your background for any criminal history. A felony or misdemeanor conviction won’t automatically render an applicant ineligible for a real estate license in Maryland. The state commission will review each applicant’s details on a case-by-case basis.
Step 4. Join a Maryland Real Estate Brokerage
Time commitment: Two weeks
Helpful resource: What’s the Best Real Estate Company to Work for in 2021?
The last step you’ll need to complete before working as a licensed real estate agent in Maryland is to join a real estate brokerage. A real estate broker not only has at least three years of experience in real estate, but they also have taken additional courses and passed the Maryland broker exam. Brokers are also trained to oversee and manage real estate agents.
When you’re searching for a brokerage to work for, ask about how your commissions will be split. Some brokerages offer a 50/50 split, while others may give their agents a higher cut in exchange for paying a monthly desk fee. Still, other brokerages may charge you a set fee for each purchase or sale that you oversee.
Also, ask the brokerage about their “cap,” which is a term to describe the maximum amount of money the brokerage can earn off the top of your sales commissions in a given year. Any commissions that you earn above this maximum cap are yours to keep.
The relationship between a real estate agent and a brokerage should be mutually beneficial. So make sure you ask about what other benefits you’ll receive from working with their company.
You’ll need to get used to the fact that you’re working as a commissioned salesperson, which means that your income is based entirely on how much you sell. Many agents start part time so they can still bring in additional revenue as they’re learning the ropes.
[Related article: How to Become a Successful Part-Time Real Estate Agent]
How to Get Maryland Real Estate Licnense: FAQs
Now that you have an overview of how to get a real estate agent in Maryland, keep reading to find more answers to frequently asked questions.
Can I get my Maryland real estate license online?
Yes, you can take all of your Maryland real estate classes online through prelicensing education providers like Real Estate Express. However, you’ll need to go to one of the PSI exam testing sites to complete your salesperson exam.
What if I have a real estate license from another state?
Real estate agents with licenses from Pennsylvania and Oklahoma can also become licensed in Maryland without going through the entire process. To understand the terms of the agreement, visit the Maryland Real Estate Commission website.
On the other hand, if you have your real estate license in Maryland, you can work as an agent in one of these states without going through the entire licensing process:
- North Carolina
[Related article: Real Estate License Reciprocity & Portability: A State-by-State Guide]
Is the Maryland real estate exam hard?
Yes, the Maryland real estate exam may be difficult for some people. The Maryland Real Estate Commission provides pass rates for each of the real estate schools on its website. Unfortunately, you can see that fewer than half the people taking the exam pass it.
Instead of becoming discouraged by this data, let it inspire you to work hard to pass the exam the first time. We recommend purchasing additional exam prep materials through Mbition. Their top-tier exam prep package for Maryland will pinpoint which subjects you need to spend more time with based on how you do on a practice exam.
How long does it take to become a real estate agent in Maryland?
You can earn your Maryland real estate license in three or four months. The lengthiest part of the process is taking the 60 hours of prelicensing classes, but you’ll also have to wait for your application to be approved by the Maryland Real Estate Commission.
How much money does a Maryland real estate agent make?
According to Indeed, the average salary of a real estate salesperson in Maryland is $87,691. This salary is made up entirely of the commissions.
In most real estate transactions, a salesperson earns 3% of the total amount of the sale. According to Zillow, the average value of a home in Maryland is $366,581. A salesperson overseeing the purchase of a home may earn $10,997. If you help sell 12 average-priced houses a year, your commissions will be well over $100,000.
More Career Resources From The Close
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