Real Estate Broker/Designated Broker

Real estate broker means a person licensed by the Department of Professional and Financial Regulation to offer, attempt to conduct or to conduct services on behalf of another for compensation which includes, but is not limited to, listing real estate for sale; promoting the purchase, sale or exchange of real estate; buying, advertising or holding oneself out as offering specific services defined by law and selling or exchanging real estate [reference 32 MRSA Chapter 114 §13001 "Definitions"].

A broker licensee must be affiliated with a licensed real estate agency to be eligible to perform brokerage services.

In addition, a licensed real estate broker may act as designated broker for an agency and, as such, is responsible for the actions of the agency and its associates or employees.

This license may be held on an inactive status.

How to apply

Fees
  • Application/License fee: $100.00
  • Criminal Records Check Fee: $21
Term
  • 2 Years
Requirements

General Requirements

  • Completed License Application
  • Hold a high school diploma or equivalent.
  • Be at least 18 at time of application for the license.

How to Qualify for the License

  • Complete the Designated Broker Course with a minimum final grade of 75% and submit the original course completion certificate with the application. Must apply for the broker license within one calendar year of completing the course, and
  • Have been licensed as an associate broker affiliated with a real estate brokerage agency for 2 years within the 5 years immediately preceding the date of application submitted to the Commission.

 

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Renewal fees and information

Fees
  • Biennial renewal fee for an active license is $100.00
  • A $50.00 late fee is assessed for licenses renewed within 90 calendar days after the expire date.

Renewal Requirements/
Process

  • A license must be renewed online or by paper application on or (up to 60 days) before the expiration date in order for the licensee to conduct business without interruption.
  • Licensee must meet the continuing education requirement of 21 hours of Commission approved continuing education which includes the course designated as the current core course at the time of renewal. Continuing education certificates are not submitted at the time of renewal; however, the Commission conducts random monthly audits where evidence of completion is required.
  • A license may be renewed up to ninety (90) calendar days after the expiration date by complying with all requirements for renewal and payment of an additional $50 late fee. No business may be conducted between license expiration and renewal.
  • A license cannot be renewed after 90 calendar days. Applicant must pass the Maine Law exam administered by Pearson VUE with a minimum grade of 75% before submitting a new license application.
  • Renewal reminders are emailed to the email address on file at least 30 days prior to the license expiration date. It is the licensee's responsibility to keep the Commission informed of current contact information and to see that the license is renewed absent the renewal application. Reminder includes licensee’s access code which, along with license number, is required for online renewal.
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  • Fill out the online renewal application and submit.

    The Department must verify that you have met all the conditions for renewal before your license is renewed. Online submission of your renewal application should not be construed as automatic renewal of your license.

Please Note: By submitting a renewal application in any form by any method, the licensee is certifying that all requirements for renewal have been met prior to submission of the application, including the full continuing education requirement. Submission of the renewal application also constitutes certification of the licensee's understanding that the Commission will rely upon the information submitted for issuance of a license and that sanctions may be imposed, including suspension or revocation of the license, if the certification is found to be false.

 

Last Updated: April 25, 2014