A Complete Guide to Getting Your Real Estate Broker License in Maryland 

You’ve been licensed in Maryland for a few years. You’ve hit your sales goals every year, mastered the 6 traits all great agents have, done countless transactions, and now you’re the expert agent at your broker company. What’s next? Come out of your second basketball retirement and join the Washington Wizards? 

Of course not! Unless you’re Michael Jordan, it would be much easier to get your Broker license. Whether you want to start your own broker company and have agents work for you, or whether you want to be a branch broker for one of the big guys, the next step is getting your Maryland Real Estate Broker License! This blog will give you a complete understanding of everything you need to do to get your broker license.

Age

           According to the Maryland statutes, you only have to be 18 to qualify for a broker license. The same information is written on the Maryland Real Estate Commission Website. However, you need to have at least 3 years of experience in real estate before you can become a broker in Maryland. At a minimum, you would need to be at least 21 years old, and even then, depending on your experience and education, you may be licensed later. 

Experience

          The general rule for meeting the experience and education requirements for Maryland is that you have experience of full-time real estate practice for at least 3 years, and you must complete 135 clock hours of real estate courses. That seems like a lot, but it can be very manageable. So, what do these numbers really mean?

 The 3-year full-time requirement is simple, broker applicants must attach a Maryland license history certifying active, regular, and lawful practice for at least 3 immediately preceding years. Being licensed as a salesperson for 3 years would satisfy this requirement.

Education

          The Maryland Real Estate Commission requires 135 hours of real estate broker education before being licensed. Luckily, we will have the first online and self-paced 135-hour program that meets that requirement! Coming Soon!

The Board also accepts some college degrees as credit for some of the classroom hours.  If an individual is qualified to practice law in Maryland, the Commission may waive some or all the educational and experience requirements to obtain a broker license.

Exam

           Maryland offers its real estate licensing exams through PSI Exams. There is a fee of $44 for taking the exam. The format is identical to the salesperson exam; you will take the test in a testing center and there will be a national portion and a state portion. You will have 2 hours to answer 115 questions and obtain a score of 75% on both portions of the exam. For more information, make sure you read the candidate booklet and content outlines.

Fees and Forms

         You will need to follow the instructions on the Commission’s website and apply on the Department of Labor portal. There is also an application fee and a background check fee. You will also need certified transcripts for any academic credits you wish to use towards your education requirement.

 Broker Reciprocity

          If you are already licensed in another state, your requirements to get a broker license can be a little different. Maryland has reciprocal agreements with Oklahoma and Pennsylvania. If you are a licensed Pennsylvania broker, you can get a Maryland real estate broker license without having to take the pre-license education or the licensing exam in Maryland. Just pay the application fees and provide proper documentation. Oklahoma Brokers only take the state portion of the licensing exam and apply with the appropriate fees.

          Those licensed in other states, like a broker from Ohio or Virginia, can still apply as a non-resident Broker through out-of-state recognition. An applicant’s education and experience are reviewed for transferability on a case-by-case basis. If the education and experience are not substantially similar to Maryland’s it is less likely that Maryland will recognize the license. Those approved for out-of-state recognition will have to take state portion of the licensing exam.

Now stop listening to those podcasts and get started on your broker license! If you have any questions about getting your Maryland broker license or you are wondering if now is the time to become a managing broker, do not hesitate to call, text, live-chat, or email me at 859-525-0303 and john@perryrealestatecollege.com!