Getting your real estate broker license in Massachusetts (MA) may be challenging, but there are financial benefits to taking this next step in your career. After all, 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.
What Are the Requirements for a Real Estate Broker License in MA?
To be eligible for a real estate broker license in MA, you must:
- Be at least 18 years old
- Have held a Massachusetts real estate salesperson license for at least two years
- Have been affiliated with a real estate broker in MA for at least three years
- Be determined to possess good moral character as outlined in Determination of Good Moral Character for Initial Broker or Salesperson Licensure
How to Get a Real Estate Broker License in MA
Government websites can sometimes be difficult to navigate. That’s why we want to take you through the process and provide links to the forms you need in our simple, step-by-step guide.
1. Complete a 40-hour MA Real Estate Broker Course
- Cost: $349-$399
- Time commitment: 1-2 weeks
- Helpful resource: 5 Best Massachusetts Real Estate Schools for 2023
Once you’ve met the minimum level of experience as a salesperson, you’ll need to complete a 40-hour course from a state-approved school to become a real estate broker in MA. This is different from the 40 hours of prelicensing classes you took to become a real estate agent in Massachusetts.
You can complete the 40 hours of study with Freedom Trail Realty School. Their Summit Trail course offers live stream classes, an audio book, an alumni group invite, a pass or don’t pay guarantee, and access to the company’s job board. You’ll also gain unlimited access to practice tests and archived classes to help prepare you for the MA broker licensing exam.
5 Best Massachusetts Real Estate Schools for 2023
2. Submit Your MA Broker License Application
- Cost: $106
- Time commitment: 2 hours
- Helpful resource: PSI 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:
- An Education Requirement form (signed and stamped by the real estate school where you completed 40 hours of broker classes, and dated within the last two years)
- A Candidate Endorsement form (signed by three non-relatives who endorse you)
- Employee Broker Certification form (signed by your current supervising broker)
- A 5,000 Surety Bond (completed by an insurance agent or bond company)
- A Criminal Offender Record Information Acknowledgement form (completed and notarized)
All these forms are on the final pages of PSI’s candidate information bulletin. Your application, accompanying documents, and $106 payment must be mailed to PSI, the testing service that administers the MA broker license exam, at this address:
PSI Examination Services
ATTN: Examination Registration MA RE
3210 E. Tropicana Avenue
Las Vegas, NV 89121
You’ll only be allowed to schedule your MA real estate broker license exam after PSI approves your application.
3. Pass the MA Real Estate Broker License Exam
- Cost: $106 (already paid in step no. 2)
- Time commitment: 4 hours
- Helpful resource: PSI website
Time to Complete:
Computer-based, 120 multiple choice questions
Bring to the Testing Center:
Two forms of valid, signature ID
This is it! At the testing website, select “MA Broker” and create an account or log in to schedule your exam. Testing sites are located in the following cities:
- Fall River
- West Springfield
We recommend you arrive 30 minutes early at the testing site to sign in. Be sure to bring your original Massachusetts salesperson license and two forms of valid identification. 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.
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.
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4. Complete the Licensing Process
- Cost: $142-$200 prorated license fee + $12 processing fee
- Time commitment: 1 hour
- Helpful resource: Board of Registration of Real Estate Brokers and Salespersons website
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 on site. The license fee is prorated based on your birth date. Note that they’ll only accept payments via credit card, check, or money order addressed to PSI.
That’s about it: You’ll leave the testing facility as a licensed real estate broker. Congratulations!
The Average Real Estate Broker Salary for Every State
How Much Does It Cost to Get a Real Estate Broker License in MA?
Massachusetts Real Estate Governing Body:
Board of Registration of Real Estate Brokers and Salespersons
Price Range for Real Estate Broker Course:
Estimated Total Costs:
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.
Sample Costs of a Real Estate Broker License in MA
|Classes (40 hours)||$349-$399 (through Freedom Trail Realty School)|
|Broker exam registration||$106|
|Broker license application||$142-$200|
(Massachusetts real estate broker license costs as of August 2023)
We recommend the Summit package offered by Freedom Trail Realty School. It’s one of two broker education packages they offer, and includes unlimited access to practice exams plus digital flashcards and a study planner.
How Much Do Real Estate Brokers in Massachusetts Make?
According to The Close’s salary information database, a real estate broker in Massachusetts makes an average of $85,954 each year. While a real estate agent only earns pay through commissions, a broker may have more sources of income.
How to Start a Real Estate Brokerage in 2023 (Without Going Broke)
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 and level of difficulty of the broker exam in Massachusetts. If you have other questions, be sure to drop them in the comments section.
Should I get my broker license in Massachusetts?
There may be a financial benefit to earning your Massachusetts real estate broker license. However, some agents decide to become a broker because they have career goals that can only be achieved by obtaining this license.
Some brokers plan to open a business and hire real estate agents to work under them. They collect desk fees and a portion of their agents’ commission while taking care of the additional expenses and responsibilities that come with owning a business. Additionally, real estate brokers may receive income from owning ancillary businesses like title or mortgage companies.
On the other hand, some agents just want to become solo broker-owners, keeping all of their own commissions and not having to answer to a larger company. 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, that’s a good sign you should consider getting your 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 still need to gather the required documents for your application and study for the real estate broker exam.
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 broker exam. However, if you’re working as a real estate agent in Massachusetts, then you’ve already passed a similar exam and should have some idea of what to expect.
The key to passing any real estate exam begins with quality education and exam prep materials, but it also comes down to the amount of time you spend studying. Practice exams are a helpful way to prepare yourself for the pressures of exam day. Also, be sure to check out our exam-taking tips and tricks before you head off to the testing center.
What if I want to move my real estate business to MA from another state?
If you have a license from another state, you might be able to practice in Massachusetts without completing all of the licensing steps. Currently, only salespersons and brokers who are licensed in the following states may apply for reciprocity:
- New Mexico
- Oklahoma (must have been licensed for at least two years)
- Rhode Island
- West Virginia
If you don’t come from one of these states, you still may qualify for license reciprocity by this educational waiver form. Visit the Massachusetts Real Estate Board website to learn more about applying for reciprocity.
Real Estate License Reciprocity & Portability: A State-by-State Guide
More Career Resources From The Close
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