2
QUESTIONS

How Much Does It Cost to Get a Real Estate License in Maryland?

Share With Friends:

This guide gives you a rundown of the costs associated with obtaining your original real estate salesperson license in Maryland. We provide details on what factors impact these costs and how.

We also share information on the expense of keeping your Maryland real estate salesperson license active once you have it.

So, how much is a real estate license in Maryland? Here’s what you can expect to invest.

Table of Contents
1
QUESTION

Obtaining Your Original License

Pre-Licensing Course: $200 or More

One of the first expenses to include in your Maryland real estate license cost estimate is pre-licensing education.

The state mandates that you complete a 60-hour course on the principles and practices of the profession. You can take this course in one of the real estate schools in Maryland.

How and where you choose to complete the pre-licensing course will affect how much you pay.

Online, work-at-your-own-pace classes typically cost the least, with options in the $200 to $250 range.

In-person and virtual classroom options at real estate schools tend to be priced higher, at around $350 or more.

University and community college classes are usually the most expensive. With tuition and fees, anticipate paying at least $500 to complete the coursework on campus.

Your cost for online classes can also be impacted by any extras you opt to purchase in addition to enrolling in the course.

Online providers often offer tiered pre-licensing packages that let you customize your learning experience.

You can add items like exam prep, instructor Q&A, and courses to help you build your business. That can add $50 to $150 to the price.

Know which method of education is best for you by reading our article comparing real estate classes online and classroom-based courses.

 

Test Prep Program: $70-$250

Unlike pre-licensing education, an exam prep course is optional. But if you take a stand-alone course and feel that you could use some additional help, you’ll find plenty of online prep programs.

They are intensive, structured reviews designed to help you to pass the exam.

You can focus on the national (general) portion of the test. Or, you can take a prep course that’s specific to the Maryland section of the salesperson exam.

In addition, some courses cover both the national and state sections.

While the specific features of these courses will vary by provider, there are several common elements that are listed below:

  • Initial knowledge assessment
  • Personalized progress tracking
  • Study lessons by topic
  • Dynamic practice exams
  • Digital flashcards

Many of the providers also offer a “pass or don’t pay” guarantee. If you don’t pass the exam on your first attempt, you get your money back.

You can also refer to our helpful tips on how to study for the real estate exam.

 

Exam Registration: $44

You must register and book an appointment with the test administrator, PSI Services, to take the exam. You will need a confirmation notice to qualify to take the test.

Your real estate school will submit your course completion certificate to PSI to let them know you’re eligible for the test. You’ll then get an email confirmation and instructions on how to schedule and pay for the exam.

The registration fee is $44. It’s not refundable or transferable.

However, you can change or cancel your appointment without forfeiting the payment if you do so with the required notice. You will lose the fee in the following instances:

  • You miss your appointment without canceling or rescheduling.
  • You cancel within two days of your scheduled exam date.
  • You’re denied entry because you arrive after the exam start time.
  • You don’t present the proper identification when checking in for the test.

Also, be aware that if you fail the exam and retake it, you’ll have to register again and pay another fee. That’s the case whether you are repeating one or both portions.

You are not limited in the number of times you can retake the test. However, you will pay $44 each time you do.

 

License Fee: $90

After passing the exam, you’re ready to get your license. You have one year from that date to apply.

Your exam score will expire after that time, and you’ll have to repeat the licensing process if you miss the deadline.

If you’ve confirmed your sponsoring broker, you’ll apply for an active license. If you’re still in the process of choosing a real estate brokerage to work for, you can apply for an inactive license.

You can pick from our database of the top real estate brokerages in your area.

Either way, you’re required to pay a $90 original license fee. This fee covers the operational costs associated with licensing. It also includes a one-time $20 payment that supports the Guaranty Fund.

This fund exists to give consumers a place to seek recovery for financial loss resulting from a real estate licensee’s conduct.

Once your license is issued, it’s good for two years, at which time you’ll need to renew.

2
QUESTION

Maintaining Your License

Mandatory Continuing Education: At Least $200 per Renewal Cycle

Expenses associated with getting your real estate license in Maryland don’t end when your initial license is issued.

To get a complete picture of the investment required for your real estate license in MD, cost calculations should include those that continue throughout your career. Continuing education (CE) is one of them.

To keep their license active, Maryland real estate agents must complete a minimum of 15 approved CE hours every renewal period.

The course content is made up of 4.5 elective hours (courses that you choose) and 10.5 mandatory hours in the following categories:

  • Ethics (3 hours)
  • Agency (3 hours)
  • Legislative (3 hours)
  • Fair Housing (1.5 hours)

Salesperson CE courses are readily available online and are typically offered as a 15-hour bundle. Packages are offered for livestream and in-person classes as well.

Note that some providers have different pre-packaged bundles that allow you to choose between electives. Look to pay around $200 for a package deal.

There are opportunities to enroll in individual courses as well. Prices for these range anywhere from $25 to $55 for 3-hour offerings and $12 to $30 for 1.5 hours.

You could score some savings based on professional membership. For example, some local Realtor associations offer discounts to members or CE courses as part of the dues.

 

License Renewal: $70

Another ongoing cost is the fee to renew your license. It’s due every two years from the date of your original licensure. You must renew whether you’re active or inactive.

If you fail to renew by the deadline, your license will expire. You’ll have up to three years to apply for reinstatement without having to retake the exam as long as you:

  • Pay all past-due renewal fees.
  • Pay the reinstatement fee of $150.
  • Are compliant with the CE requirements.

If your license is expired for more than three years, you can’t reinstate it by catching up on back fees and continuing education.

Instead, you must contact the Maryland Real Estate Commission about the current education and exam requirements to start the licensing process from scratch.

 

As with any other business, real estate has startup costs on top of those associated with earning your license.

These include brokerage fees, membership dues, and marketing costs. So, factor these expenses in.

Once you start your real estate career, you can take advantage of opportunities with zero cost.

For example, you can read up on free resources that allow you to know the next steps after passing the real estate exam.

You can also get insight from industry experts on the life of a real estate agent as a career.

As a licensed agent, you can now join a real estate team. This is where you can learn from more seasoned agents on what it takes to be successful in the business.

To help you build and grow your real estate career quickly, we at Real Estate Bees created a directory for real estate professionals.

It’s designed to help you get more exposure for your business, including receiving leads. Create a free profile by signing up here.

__

If you want to contribute your expert advice on a topic of your expertise, feel free to apply to our Expert Contributor Program.

Never Miss a Post
Recent Posts
7 Best Facebook Ads Services for Real Estate Investors Compared
Highly Converting Pre-Foreclosure Sample Letter to Distressed Homeowners
Can You Get a California Real Estate License with Violations such as Felony, DUI or Misdemeanor?
Categories
Popular Posts
How Hard Is It to Pass the New York Real Estate Exam for the First Time in 2022?
How Much Does It Cost to Get a Real Estate License in California?
How Much Does It Cost to Get a Real Estate License in Ohio?
Our Partners