Are you ready to pursue your broker’s license and become a powerhouse in Massachusetts real estate? Getting your real estate broker license in MA may be challenging, but there are financial benefits to taking this next step in your career.
The Bureau of Labor Statistics lists Massachusetts as one of the top-earning states for real estate brokers. In this article, we’ll outline the process for earning your real estate broker license in MA. We’ll walk you through the steps and help you take the next leap in your real estate career.
Requirements for a Real Estate Broker License in MA
To be eligible for a real estate broker license in MA, you must have had a Massachusetts real estate agent’s license AND have been affiliated with a Massachusetts real estate broker for at least three years.
Your experience as an agent must be no more than two years old at the time you decide to apply to take the Massachusetts real estate broker license exam. During this period, you need to have worked for a minimum of 25 hours per week.
You’ll be required to take a 40-hour real estate broker course before applying to take the Massachusetts real estate broker license exam. Before you enroll in a course of study, you must also meet these basic license requirements:
Cost of a Real Estate Broker License in Massachusetts
It costs approximately $600 to get a real estate broker license in MA. The license fee is prorated since real estate licenses expire on an applicant’s birthday.
Costs of a Real Estate Broker License in MA
|Classes (40 hours)||$349 (through Freedom Trail Realty School)|
|Broker Exam Fee||$106|
|Massachusetts Broker License Fee||$142-$200|
How to Get a Real Estate Broker License in MA
Step 1: Complete a 40-Hour MA Real Estate Broker Course
Step 2: Apply to Take the MA Real Estate Broker License Exam
Step 3: Pass the MA Real Estate Broker Exam
Government websites can be difficult to navigate. We’ll take you through the process and provide links to the forms you need in our simple step-by-step guide. Here’s how to get your Massachusetts real estate broker license:
1. Complete a 40-Hour MA Real Estate Broker Course
Cost: As low as $349 with Freedom Trail Realty School
Time commitment: 1-2 weeks
Once you’ve met the minimum level of experience as a realtor, you need to complete a 40-hour course of study to become a real estate broker in MA. This is distinct from the classes you took to become a real estate agent in Massachusetts.
You must take the course from an authorized real estate school, and a portion of the class must include instruction in an interactive class—either in-person or live online.
You can complete the 40 hours of study with Freedom Trail Realty School. Their Broker Pro course offers livestreamed classes, an audio book, and a pass or don’t pay guarantee.
When you complete your Massachusetts broker licensing requirements with Freedom Trail Realty School, you’ll gain unlimited access to practice tests and archived classes to help prepare you for the MA broker licensing exam.
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Step 2. Apply to Take the MA Real Estate Broker License Exam
Cost: $106 (includes the application and exam fee)
Time commitment: 1 day
The application to take the MA real estate broker license exam can be found on the last 15 pages of the Exam Candidate Information Bulletin.
In addition to completing the application form and submitting a current photo, you’ll also be required to submit the following documents:
Your application, accompanying documents, and $106 fee must be mailed to PSI, the testing service that administers the MA broker license exam, to this address:
PSI Examination Services
ATTN: Examination Registration MA RE
3210 E. Tropicana Avenue
Las Vegas, NV 89121
You can’t register to take the MA real estate broker license exam until you hear back from PSI regarding your application.
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Step 3. Pass the Massachusetts Real Estate Broker Exam
The Massachusetts real estate exam testing sites are located in the following cities:
- Fall River
- West Springfield
What to bring: We recommend that you arrive 30 minutes early at the testing site. Bring two forms of valid (non-expired) signature ID to the testing center and your original Massachusetts salesperson license.
Please note that you won’t be allowed to bring any personal items into the exam room, but you’ll have access to a secure, on-site storage locker.
Pass/Fail: You’ll learn whether you passed or failed the exam immediately upon completion. If you didn’t pass, you can retake the exam as many times as necessary, as long as you successfully pass the exam within two years of completing your broker licensing courses. Retakes cost $54.
If you pass the broker exam, you’ll be asked to turn in your salesperson license and pay for your MA real estate broker license. The license fee is prorated based on your birth date.
Getting Your License: Once you’ve turned in your salesperson license at the testing facility and paid for your license fees, you’ll leave the testing facility as a fully licensed real estate broker! Congratulations!
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Massachusetts Real Estate Broker License FAQs
Maybe you’re wondering if getting a Massachusetts real estate broker license is right for you. We’ll address this and other questions here, and tell you more about the time commitment, potential earnings as a broker, and the level of difficulty of the broker exam in Massachusetts. If you have other questions, be sure to drop them in the comments section.
Do real estate brokers make a lot of money in Massachusetts?
According to the Bureau of Labor Statistics, Massachusetts ranks third for “top-paying states for real estate brokers.” The average mean wage for Massachusetts real estate brokers is $98,730.
However, it’s interesting to note that real estate agents in Massachusetts rank second in the nation, earning an average mean wage of $94,170.
How do your earnings compare? As you think about the difference in income, consider how you prefer to spend your time at work.
Should I get my broker license in Massachusetts?
There may be a financial benefit to earning your Massachusetts real estate broker license. However, some realtors decide to become a broker because they have career goals that can only be achieved by obtaining this license.
Some brokers open a business and hire real estate agents to work under them. They collect desk fees and a portion of their agent’s commission while taking care of the additional expenses and responsibilities that come with owning a business.
Additionally, some real estate brokers receive income from the ownership of businesses like title companies or mortgage companies.
There are certainly pros and cons to obtaining your broker license. You have to decide how you want to spend your time at work before you make your decision. If training and supporting new real estate agents appeals to you more than working with clients, you might consider getting your real estate broker license.
[Related article: Real Estate Broker vs Agent: A Head-to-Head Analysis]
How long does it take to become a real estate broker in Massachusetts?
It takes two to three months to become a real estate broker in Massachusetts if you already have the required years of experience working under a broker.
Massachusetts only requires aspiring brokers to take 40 hours of prelicensing education, but you’ll also need to gather the required documents and study for the real estate broker exam.
We recommend using Freedom Trail Realty School for your prelicensing classes to earn your real estate broker license in MA. The classes are highly rated and affordable. Plus, they offer the live, online teacher interaction that the state of Massachusetts requires.
Is the Massachusetts real estate broker exam hard?
The Massachusetts Board of Real Estate Brokers and Salespersons doesn’t currently publish the success rate of those taking the real estate broker exam. However, if you’re working as a real estate agent in Massachusetts, you’ve already passed a similar exam, so you have some idea of what to expect.
The key to passing any real estate exam begins with quality education and exam prep materials, but also comes down to the amount of study time you apply to it. Practice exams are a helpful way to prepare yourself for the pressures of exam day.
Freedom Trail Realty School gives students unlimited access to practice exams. The Broker Pro package also includes digital flashcards and a study planner. Check out their two options for prospective real estate brokers in Massachusetts by visiting their website.
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