Becoming an Maine real estate broker is a strong step forward in your career. Not only does this advanced license look great on a resume, it also allows you to work independently, open real estate brokerage firms, and manage other agents within these firms.
Getting the Maine Real Estate Broker License is a fairly simple process, but it does require you to complete four steps, and have a few prerequisites before applying or taking the broker’s exam.
This guide covers all of these requirements in a simple, easy to understand way that will make it easier for you throughout this process.
Maine Real Estate Agent vs. Real Estate Broker
Maine offers two different types of real estate license: Sales and Broker.
A sales agent’s license is the initial license that real estate agents get in order to sell real estate.
A broker’s license is an advanced license that allows the license holder to operate at a higher level within real estate businesses in Maine.
People often confuse sales agents and brokers. A simple way to look at the difference is that holders of the sales agent’s license are called real estate agents, while holders of the broker’s license are called real estate brokers.
If you are working towards getting your first license, check out our Maine Real Estate License guide. If you’re working on the Maine real estate broker license, keep reading this page!
Maine Real Estate Broker License Requirements
First, to be eligible for a real estate broker’s license, you must meet the prerequisites to become a real estate broker in Maine.
These prerequisites are:
- Have been licensed as an associate broker affiliated with a real estate brokerage agency for two years within the five years immediately before the date of application submitted to the Maine Professional & Financial Regulation — Real Estate Commission (MREC)
How to Become a Real Estate Broker in Maine
Once you meet all the requirements listed above, you can follow these four steps to easily help you get your real estate broker license in Maine.
Step 1: Complete a Maine Broker Pre-Licensing Course
The first step to getting your real estate broker license in Maine is to take 50 classroom hours of qualifying real estate courses (Designated Broker Courses).
Recommended Real Estate Education Course
We recommend Colibri Real Estate for real estate pre-license courses in Maine.
Colibri Real Estate
These real estate courses mostly cover the fundamentals of working in real estate and must be completed within two years of your broker’s license application. This requirement is divided into two sections:
The required 50 classroom hours of qualifying real estate courses, including the following mandatory courses are:
- Maine Real Estate Commission expectations
- Initial organization of company
- Policy on Real Estate Brokerage Relationships
- Physical office location requirements
- Financial planning
- Requirements for agency licensing
- Agency changes
- Trade names
- License contents and display
- Agency license renewal
- License law
- Supervision of employees
- Policy manual
- Trust account
These are just some of the many required courses for real estate brokers in Maine. In addition, you must also complete your course with 90% attendance and a 75% passing course rate. Maine accepts online classes, so long as they are following the MREC Course Guidelines.
Your broker pre-license courses don’t end here. To fully satisfy your course requirements, you must take additional 21 credit hours in related qualifying education courses acceptable to MREC or approved continuing education (CE) courses.
The approved courses include:
- Buyer Relationships Core Course
- Understanding and Maximizing Consumer Credit Scores
- Putting REALTOR Safety First
- To LLC or Not to LLC
- All About Fair Housing
- Residential Homebuyer Loans – Understanding Financing Programs For Your Clients
- All About Ethics
- What Agents Need to Know About Green/High Performance/Solar Homes
- Avoiding the Aggravations of Home Inspections
- Residential Lead Paint: Hazards and Disclosures
- Add Value to Your Client Relationships With Efficiency Maine Rebates
- Under Construction: Knowing the Rehab Loan Process
Maine offers reciprocity to other state brokers. An equal license may be issued to any person who holds a current and active real estate license in another jurisdiction after meeting the broker pre-license or approved CE course requirements.
After completing the courses, you must also pass the final broker course exam. The minimum passing grade is 75%. The final pre-license exam is to be supervised by a proctor, whether on-site or online. This is not the same as the state broker exam.
After passing your broker course exam, your pre-license education provider will provide you with your course completion documents. MREC recommends submitting your completion documents via its Online Services or email@example.com.
In Maine, the associate broker and broker don’t need to take an additional exam. You just need to complete your pre-licensing education requirements with a minimum score of 75%.
Taking an exam prep course provides you with helpful tools and materials, such as quizzes and specific state-only practice exams, to increase your chances of passing your broker license exam the first time.
Step 2: Submit a Maine Broker License Application
Once you meet the broker pre-licensing education requirements and pass the course exam with a minimum score of 75%, you can now apply for your license.
To submit your broker license application, you must use MREC’s MyLicense System. The application fee is $100. Use your registered associate broker license number to log in and submit your application.
If you don’t want to file online, you can also apply using a paper application form with a $121 fee.
Make sure to include the correct amount (payable to Maine State Treasurer) or credit card information (plus signature). Include any required transcripts or exam results. Make a copy of your application to keep for your records.
Step 3: Get a Background Check
After submitting your license application, you must have a background check.
The Maine Office of Professional and Occupational Regulation (OPOR) requires a criminal history records check as part of the application process for all applicants.
While you don’t have to submit fingerprints, the fee for the background check is $21. You must be open about any prior convictions. This means you’ll need to report your criminal history in its entirety.
If you aren’t sure whether you are eligible for a real estate license based on your history, check out our article on Real Estate License Eligibility.
Step 4: Application Review
After passing your broker exam, you will only need to wait for MREC to review and approve your application.
The process will vary. However, you can check the MyLicense System account to check on the status of your application. When your application is processed, you will see the status as “pending.” Once it is complete, you will then see your status updated.
Now that you’ve successfully passed the broker licensing exam and obtained your license, there are a few things you need to do to keep your broker license active and updated.
Maine Real Estate Broker License Renewal and CE
In Maine, you must renew your real estate broker license every two years. MREC will send you a renewal notice 60 days before your expiration date. The renewal process is not the same for the broker license and sales agent license.
To renew your license, you must use MREC’s MyLicense System. The renewal fee is $100 with an additional $50 late fee if renewed within 90 days after expiration.
As part of renewing your broker license, you must also complete the CE requirements that include 21 hours of MREC-approved courses. Fortunately, you don’t have to submit proof of your coursework. All you have to do is complete your online renewal. However, if you are audited, you will be notified 30 days beforehand and will need to submit evidence of your completed coursework.
MEPFR – Maine Professional & Financial Regulation
Maine Real Estate Commission
35 State House Station
Augusta, Maine 04333
Phone: (207) 624-8521
Fax: (207) 624-8637
Maine Real Estate Broker License FAQ
How much does it cost to get a real estate broker license in Maine?
The costs of getting a real estate broker license in Maine can range between $330 and $520.
The cost breakdown is as follows:
Pre-license education courses: $209-$399
Application fee: $100
Background check: $21
How long does it take to get a real estate broker license?
The steps that typically take the most time when getting a broker license include taking pre-license education courses and exams. The average amount of time to get a broker license is generally three to six months.
What is the difference between a real estate agent and a real estate broker?
Real estate agents focus on working with clients on individual real estate transactions, while real estate brokers have more experience with the added responsibility of managing a team of real estate agents or brokerage business. See our Real Estate Agent vs. Broker vs. Realtor page for more information.
How much does a real estate broker make?
Real estate brokers get paid just like real estate agents by earning commissions on their agents’ sales. Brokers can also charge the real estate agents they manage a fixed monthly fee or have the option to earn money on commission sales by helping their own clients buy and sell property. According to Payscale data, brokers earn $61,314 per year in base salary, with anywhere between $10,000 and $147,000 in commissions. The Bureau of Labor Statistics (BLS) indicates that the median broker salary is $62,010.
How do I get a job as a real estate broker in Maine?
Browse through available real estate broker jobs in your area using our StateRequirement Job Board!