If you’re thinking about switching careers and becoming a real estate agent, you’re far from alone. There’s a reason why there are over 40,000 licensed real estate agents in the state of Maryland.
However, there are a few things to know about getting a real estate license in Maryland. For example, can I get my real estate pre-license course online in Maryland? If so, how do I get licensed? Glad you asked.
Can You Take Your Real Estate Pre-License Course Online in Maryland?
Yes, you can take your real estate pre-licensure course online in the state of Maryland, and you should strongly consider doing just that. This is only one portion of the licensing requirements, but it is the most time-consuming. Here are a few things to know about the course.
How Long is the Course?
In the state of Maryland, pre-licensure courses are required to be 60 hours long and they must be administered by an approved educational provider. Once completed, you will be able to take the final exam.
If you take the course online, you can get this done entirely at your own pace, meaning that you can take it as slow or as fast as you want to.
What Does The Course Teach?
This course will be broken down into the principles of real estate sales, contract agreements, and state and federal laws, and what you learn in the course will prepare you for your exam and your career in the industry.
These 60 hours are full of mandatory courses with no room for electives. However, you can take additional coursework in order to make relicensing easier.
Benefits of Taking an Online Course
If you’re wondering whether online or in-person is right for you, let’s stop and look at the differences. When you take an in-person course, you will have to work around your schedule and take time out of your busy life.
This may not be feasible for a parent or for a full-time worker. Because of this, taking the course online and at your own pace is ideal. You won’t have to figure out logistics, stay up late, or be tied down by a schedule.
If you go at your own pace, you can get licensed as soon as you want. For a 60 hour course, spending as little as 2 hours a day could get you prepared for your exam within just one month, which will lead you to a life-long, full-time career.
The best part is, real estate agents have comparable job satisfaction and salaries to many professions that require bachelor’s or even master’s degrees. Compare a 60-hour course with 4 to 6 years of work and an average of $32,000 in student debt and you’ll understand why real estate is such a popular career path.
Licensing Process
If you are trying to become a real estate agent in Maryland, you are actually quite fortunate. The real estate education and application process are quite lenient compared to other states. There’s no need for background checks or fingerprints, and nearly the entire process can be done from the comfort of your own home! Here’s what to expect.
Final Exam
The final exam will be broken up into two parts, the national and state portions. These have pass rates of just over 50% on average, so it’s very important that you pay attention during your coursework and study before the exam.
The exam itself will be around 80 questions and it will cover the various topics that you learned in your coursework.
If you fail the exam, you will have 90 days to register for another one, with an additional fee of $95. You must pass both portions within 90 days of each other or be forced to repeat both sections.
Some courses will offer you a pass guarantee, which means that they will cover these fees in the event that you fail. However, this won’t be necessary with the right preparation. Once you pass, you will be able to apply for licensure.
Application Process
Once you have passed the exam, you can submit your application to the state of Maryland, along with proof of meeting your educational and examination requirements.
From there, you will need to have a broker that is willing to sponsor you. It will be a few years before you can be an independent broker, so for now, you will only receive an inactive license without sponsorship from a broker.
After that, if you are approved, then you are officially a licensed Maryland real estate broker.
Maintaining Licensure
Laws and practices change all the time in the real estate industry, and it’s important that we keep up with the various changes over time. The real estate world will likely be a lot different 30 years into your career than it was when you started. That’s why there are requirements for maintaining your license.
You will need to maintain your licensure by meeting the continuing education requirements as time passes. Your license will be up for renewal every 2 years, and you will be provided with a notice at least 90 days before you are up for renewal.
If your license is expired, you will have only 3 years before needing to take a retest. However, for residential salespersons, you will be required to complete 15 hours, including:
- 3.0 Legislative
- 3.0 Brokerage Relationships and Disclosure
- 3.0 Ethics
- 1.5 fair housing
- 4.5 hours are electives
You will then need to submit proof of your continuing education as soon as possible to avoid any interruptions in your licensure. If your license is suspended, you may be subject to late fees in order to obtain renewal.
Requirements may vary if you are promoted to a supervisory role or if you are working with commercial real estate sales.
Frequently Asked Questions
If you’re thinking about starting a career in a brand new industry, there’s a lot more that you need to know than how to get licensed. Let’s answer a few of the most common questions.
How Long Does the Licensing Process Take?
There is no specific amount of time for this process to take, especially with online classes, as you are able to go at your own pace.
However, if you are able to meet your course requirements and pass the exam within two months, then the application process should only take a few additional weeks, assuming that you are able to find a sponsor. It does not have to be a long and dulled-out process like receiving a degree.
How Much Does It Cost?
The whole process is surprisingly affordable. Courses can range anywhere from $200 to $400, depending on the course and package that you choose, and the exam and application process will only require an additional $200 or so. Again, compare that to a degree.
Can I Transfer My License From Out-Of-State?
Yes. Maryland recognizes other states’ licenses with specific requirements for those from Pennsylvania and Oklahoma. You will simply need to apply for out-of-state license recognition before beginning a job, and you must meet the state’s requirements.
How Do I Become a Broker?
In order to become a broker and work independently, you will need to have an active license for the past 3 years (with no gaps) and complete 135 hours of related coursework from an approved education provider. There are few industries that allow this level of growth this soon, but it is important to gain the necessary experience before trying it on your own.
Is Real Estate a Good Career Path?
Absolutely. Whether or not it’s right for you is a different question that only you can answer. However, the job has high earning potential, high rates of job satisfaction, and fairly low turnover rates.
There’s a reason that it’s one of the most popular jobs in the United States, as it offers similar salaries and benefits to many positions that require degrees, and it offers the ability to become independent fairly early in your career.
There are few jobs in the US where people without degrees can potentially earn 6-figures with high opportunities to grow or become self-employed. If that’s appealing to you, then it may be the right industry for you.
Start Your Career Today!
Now that you know how to take your real estate pre-license course online in Maryland, there’s no time like the present to get started. The sooner you do, the longer you will get to enjoy your new career. Stay up to date with our latest news for prospective agents like yourself, and feel free to contact us with any questions!
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