Do you want to learn how to get a Maryland real estate license and start a new career in today’s fast-paced real estate market? Real estate is a popular career option for those seeking a flexible job with unlimited growth potential. As a realtor, you start your own business and devote as much time and effort as you want to it.
In this article, RealEstate-Prep provides you with the most complete guide to obtaining your Maryland real estate license in 2023. Let’s get started!
Don’t forget to take our free MD Maryland Real Estate practice exam to get familiarized with the format as well as the questions of the actual exam to strengthen your knowledge and skills, as a result, enhancing your chance to pass the Real Estate exam with a high score on your first attempt. Good luck to you!
Requirements For Getting A Maryland Real Estate License
Here are some requirements you need to meet to get a Maryland real estate license.
- Be at least 18 years old.
- Have legal residency in the U.S.
- Complete the 60-hour pre-license education requirement.
- And you will need also to pass the state real estate license exam.
These items represent a high-level checklist of what it takes to become a licensed real estate agent, but there are many decisions you must make along the way that will determine the success of your journey!
How To Obtain Your Maryland Real Estate License
Step 1. Complete Required Prelicensing Courses
The first step in obtaining your Maryland real estate license is to select a school. The Maryland Real Estate Commission maintains a spreadsheet listing all of the state’s authorized real estate schools, as well as the pass rate for each.
It’s critical to understand that working as a real estate agent involves more contracts and finance than landscaping and staging. Here are the basics of your real estate prelicensing course:
- Property ownership.
- Land use controls and also land use regulation.
- Valuation and market analysis.
- General principles of agency.
- Property disclosures.
- Property management and also property leasing.
- Transfer of title.
- The practice of real estate.
- Real estate calculations.
- The real estate commission’s duties and powers.
- Licensing requirements.
- Brokerage relationship.
- Business conduct.
This list may seem so intimidating, but the State of Maryland requires knowledgeable real estate agents to oversee transactions worth hundreds of thousands (or millions) of dollars, so you must be expertly trained. The majority of people select a Maryland real estate school based on the cost and class format.
Step 2. Pass the Maryland Real Estate Exam
After you’ve completed your education, the next step in obtaining your Maryland real estate license is to pass your real estate exam. You must pass both the national and state portions of the exam in order to continue. While the state passing rate on the national portion is 52% and on the state portion is 56%, this shows that the exam is challenging.
Because the exam is given on a computer, you will know whether or not you passed it immediately after taking it. If you fail one or both sections of the exam, you can retake it as many times as you need within a 12-month period. You cannot reschedule on the same day, but you can do so within the next 24 hours.
Maryland Real Estate Exam
|Test Format||Multiple choice|
|Test Length||110 questions|
|80 nationally focused questions.|
|30 state-specific questions.|
|Time Limit||120 minutes|
|Items to Bring to Exam||Two forms of identification with signatures are valid.|
|A government-issued ID with a photo and signature, such as a driver's license, state ID, or passport, must be presented.|
|The second must possess your signature and your legal name preprinted.|
|Passing Score||To pass the Maryland Real Estate Salesperson Exam, you must score at least 56/80 on the national portion and 21/30 on the state portion.|
|Pass Rate||52% on the national portion and 56% on the state portion.|
Step 3. Apply for The Maryland Real Estate License
After passing the Maryland real estate exam, you must apply for your Maryland real estate license. You can do so by filling out the Maryland Real Estate Commission application form online. You must include $90 in your application. You have one year from the date you passed the exam to apply for a real estate license in Maryland.
According to the Maryland Real Estate Commission’s website, applicants must be of good character and reputation. They will check your background for any criminal history before approving your license. A felony or misdemeanor conviction will not immediately disqualify an applicant for a real estate license in Maryland. Each applicant’s details will be assessed on an individual basis by the state commission.
Step 4. Join a Maryland Real Estate Brokerage
The final step before becoming 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 real estate experience, but they have also completed additional courses and passed the Maryland broker exam. Brokers are also taught how to oversee and manage real estate agents.
When looking for a brokerage to work for, inquire about how your commissions will be split. Some brokerages offer a 50/50 split, whereas others may offer a higher cut in exchange for a monthly desk fee. Other brokerages, on the other hand, may charge you a set fee for each purchase or sale that you handle.
Also, ask for information about the brokerage’s “cap,” which is the maximum amount of money the brokerage can earn on top of your sales commissions in a given year. Any commissions achieved in excess of this maximum cap are yours to keep.
A real estate agent’s relationship with a brokerage should be mutually beneficial. So make sure to inquire about any additional benefits you will receive from working with their company.
You’ll need to adapt to the fact that you’re a commissioned salesperson, which means your income is entirely dependent on how much you sell. Many agents begin part-time so that they can earn extra money while learning the ropes.
How Much Does It Cost to Obtain a Real Estate License in Maryland?
A real estate license in Maryland can cost less than $400. When compared to the cost of technical training and college degrees, $400 is a good price.
|Prelicensing Classes - 60h||$229 through|
|Maryland Real Estate Exam Fee||$44|
|Maryland Real Estate Salesperson License Costs||$90|
How Long Will It Take To Get Your Maryland Real Estate License?
Your dedication will determine how long it takes you to complete the process of becoming a real estate agent in Maryland. You could complete the real estate licensing course in just over a month if you took two hours of licensing education each day, six days a week.
After you successfully complete the pre-licensing education course, they will electronically send your eligibility to the PSI center. After two weeks, you will receive an email with instructions on how to pay and schedule the exam.
Allow up to four business days for PSI to process your registration after you register to take the exam. Registration can be completed by mail, email, phone, or in person.
Continue reading to find more answers to frequently asked questions about how to find a real estate agent in Maryland.
Can I obtain my Maryland real estate license online?
Yes, you can take all of your Maryland real estate classes online through providers such as Colibri Real Estate. To complete your salesperson exam, you will need to visit one of the PSI exam testing centers.
What if I already have a real estate license in another state?
Real estate agents with licenses from Pennsylvania or Oklahoma can obtain a license in Maryland without having to go through the entire process. Visit the Maryland Real Estate Commission’s website to learn more about the agreement’s terms.
However, if you have a Maryland real estate license, you can work as an agent in one of these states without going through the entire licensing process:
- North Carolina.
Is the Maryland real estate exam really hard?
Yes, some people may find the Maryland real estate exam difficult. On its website, the Maryland Real Estate Commission lists the pass rates for each of the real estate schools. Unfortunately, you can see that less than half of those who take the exam pass.
How much can real estate agents make in Maryland?
The average salary for a real estate salesperson in Maryland is $87,691, according to Indeed. This salary is entirely made up of commissions.
A salesperson typically earns 3% of the total sale in most real estate transactions. According to Zillow, the average home in Maryland is worth $366,581. A salesperson in charge of a home purchase may earn $10,997. Your commissions will be well over $100,000 if you assist in the sale of 12 average-priced houses per year.
Is it hard to become a real estate agent in Maryland?
Becoming a real estate agent in Maryland, like in other states, requires dedication and time. You must complete 60 hours of pre-licensing coursework and pass both the national and state portions of the exam.
To pass the exam on the first try, you must attend pre-licensing classes and study hard prior to taking the exam. On the licensing exam, you will have 120 minutes to answer 80 national real estate questions and 30 state real estate questions.
Can I take the Maryland real estate license exam several times?
The exam can be retaken an unrestricted number of times. However, the pre-licensing course is only valid for one year, so you must pass the exam within that time frame. If you fail to do so, you must enroll in a new pre-licensing program before you can take or retake the exam.
Can I become a Maryland real estate agent with a criminal record?
With a criminal record, becoming a real estate agent in Maryland is not impossible. If you have a criminal record and want to apply for a real estate license in Maryland, you must submit a manual application to The Maryland Real Estate Commission.
The Maryland Real Estate Commission considers each case individually to determine whether you are eligible to apply for a real estate license. Along with your application, you must submit True Test copies of the proceedings surrounding the conviction.
If your application is rejected, you can submit an appeal, which the Commission will consider and make a final decision on.
Right now, you have the potential to obtain your Maryland real estate license and become an excellent sales agent in 2023. Let us help you unlock it, and get started on your own path to success today!