We offer five tools to help you get started in your real estate career:
• Start Smarter:
this is a free book (55 pages) that describes a day in the life of a licensee. For some, real estate brokerage is a dream career; for others, it is a challenge. As best we can, we want to help you determine if real estate is for you before you spend your precious time and money pursuing a career that is more challenging than it appears. Click here to download this book
• The Licensing Process:
in Maine there are three license categories: Sales Agent, Associate Broker and Broker. If you are just starting your career, you begin with a Sales Agents license. To get a Sales Agents license, you must be at least 18 years old, have a high school diploma or equivalent, and then take and pass The Sales Agent’s Course
with a grade of 75 or better. When you pass the course, you get a certificate that allows you to sit for the State of Maine Real Estate Licensing Exam offered by Pearson VUE. You can learn more about the test at the Maine Real Estate Commission’s website at https://www.maine.gov/pfr/professionallicensing/professions/real_estate/exam.html
.When you pass the Pearson VUE exam, you may apply for a Sales Agent’s license. You must apply within 1 year of passing the state exam. You can get the application to download, or apply online at Maine Real Estate Commission Sales Agent Licensing
The application does include a background criminal records check.
Note that the application is signed by the Designated (Managing/Responsible) Broker of the agency because to practice real estate in Maine, you must be affiliated with a licensed agency where your work will be supervised by the Designated Broker.
You may practice with your Sales Agent’s license for 2 years. During that 2 year apprentice period, you must take and pass the Associate Broker Course, a 60 hour class approved by the Maine Real Estate Commission AND complete the Documented Field Experience Form. You must apply for your Associate Broker license no sooner than 30 days before the expiration date of your Sales Agent license. Once you receive your Associate Broker license, you may continue as an Associate Broker for the rest of your career. To maintain your Associate Broker License, you must take 21 hours of continuing education every two years.
Some Associate Brokers choose to upgrade their license to Broker. You must have two years experience as an Associate Broker within a five year period. Upon completion of The Broker Course with a grade of 75% or better, with the required experience, you can apply for a Broker license. With a Broker License, the licensee can open their own office and become licensed as its designated broker.
If you have a real estate license from another state, you may qualify for an equivalent license from Maine by taking and passing the Maine Law Exam administered by Pearson VUE. Click here to order study materials and practice questions for the Maine Law Exam.
If you have further questions about the licensing process, you may contact the Maine Real Estate Commission at https://www.maine.gov/pfr/professionallicensing/professions/real_estate/contactus.html or call 207-624-8521.
• Interview Questions:
A good way to explore a career in real estate is to make a list of real estate agencies where you think you might like to work. Call up the Designated Broker of each agency and ask for an informational interview: “Hi.. I’m thinking of getting my real estate license; could I make an appointment to come in for an informational interview?” And then take the list of questions here.
And be sure to take a copy of your resume.
• Career Counseling:
If you are considering a career in real estate, please feel free to contact Charles “Kim” Coit
by phone, 207-671-6136, or by email, firstname.lastname@example.org
, for a conversation about careers in real estate. There is no charge… just a chance to get some information from someone who has been in the industry for over 30 years and has seen many people succeed and many others who, after spending time and money, learned that real estate was not a good career choice for them. He has observed that some of us are energized by interactions with others… teachers, nurses, social workers and others… who seem to prosper in real estate; if working with others energizes you, that is good news if you want to become a broker. If working with others is tedious for you, perhaps a different approach to a career in real estate as an investor or property manager might be more productive. There is lots of room for almost everyone in real estate; the field is huge!
• Spread Sheet: Click here
to go to our income/expense EXCEL spreadsheet where you can insert the number of transactions you plan to do in a year, calculate your income, subtract your expenses and taxes to estimate your income over the first 5 years of your career.