How To Become A Real Estate Agent In Maine
Professional education is a critical part of earning and retaining your real estate license in Maine.
Before you submit a license application, you need to take specific coursework to give you a solid foundation and prepare you for the official license exam. You also need to take continuing education before each license renewal.
Unfortunately, AgentCampus by 360training doesn't offer Maine real estate education at this time.
However, we're aware of how overwhelming the licensing process can be. Even though we don't carry the required coursework, we want to make sure you understand the necessary steps. You can learn more about the courses and steps that Maine requires below.
What Are Maine's Real Estate Pre-Licensing Education Requirements?
MREC requires a 55-hour Sales Agent pre-licensing course from an approved provider. The curriculum must include:
- Industry Overview/Organization
- Maine Real Estate Commission
- Agency Relationships
- Product Knowledge
- Property Valuation and the Appraisal Process
- Financing the Transaction
- Contracts
- Closings
- Federal and State Laws Governing Real Estate Activities
Who is Eligible to Become a Real Estate Agent in Maine?
To qualify for a sales agent license in Maine, you need to be at least 18 and hold a high school diploma or the equivalent.
What is the Maine Real Estate Licensing Exam Like?
You need to pass both portions of your licensing exam within one year of completing your Sales Agent pre-licensing course.
The official licensing exam is administered by a third-party testing company named Pearson VUE at a number of testing sites throughout the state. It has two portions: a general/national portion and a Maine-specific portion. You'll have 2.5 hours to complete the 80-question general portion, and 1.5 hours to complete the 40-question state portion.
Before you leave the testing center, you'll get your pass/fail results.
What is the Deadline for my Maine Real Estate License Application?
You have one year after passing both portions of your state licensing exam to turn in your application.
How Often Does a Maine Real Estate License Have to Be Renewed?
In Maine, your real estate license needs to be renewed every 2 years.
What Are Maine's Continuing Education Requirements for Real Estate?
Maine requires you to complete 21 Continuing Education hours from an approved provider for each renewal, including:
- 3 core hours
- 18 approved elective hours
The mandatory core course changes every two years. Not every core course offered during your two-year cycle will not meet the core requirement for your renewal date. You need to take the course that is mandatory when your renewal date falls.
You can complete your continuing education up to 90 days after your license expires for a late renewal, but you won't be able to practice during that time.
You shouldn't start your CE for the next cycle until that cycle begins. CE hours can't roll over from one cycle to the next.
What Kind of Jobs Can I Get with a Maine Real Estate License?
You can serve in a number of different roles with a real estate license in Maine, including:
- Residential real estate agent
- Commercial real estate agent
- Real estate broker
- Property manager
In real estate, there are as many niches and specialties as there are kinds of buyers, sellers, and property. Some types of real estate are more profitable than others, although those frequently call for additional certifications or licenses.
You can get a general idea of your potential salary in Maine with wage data from the Bureau of Labor Statistics:
| Job Title | Average Hourly Wage | Average Yearly Wage |
|---|---|---|
| Sales Agents | $20.22 | $42,060 |
| Brokers | $27.53 | $57,270 |
| Property Managers | $26.48 | $55,070 |
Since a real estate agent's pay is largely based on commission, actual earnings vary a lot from individual to individual. Some agents earn well below those averages, while others make well above. For example, the top 90th percentile of sales agents in Maine make $110,070.
To learn more about your career opportunities, potential real estate specialties, and how commissions work, check out our Resources page for more information.
