Real Estate Brokerage Agency

• Application/License fee: $80

• Biennial (2 years)

General Requirements

• Completed license application

SPECIFIC REQUIREMENTS

Every agency license applicant must:

• Appoint a Maine licensed broker to serve as designated broker.
• Have a fixed and definite place of business.
• Establish and maintain a federally insured trust account in a financial institution authorized to do business in this state.
• Obtain a Federal Employer Identification Number (FEIN) prior to application for a license.
• File a list of officers of the particular business entity that includes the office held and home address of each officer. (Not applicable to Individual Proprietor applicants.)

Other Requirements

• Corporation, Limited Liability Company and Limited Partnership applicants must register with the Maine Secretary of State, Bureau of Corporations prior to application for a real estate agency license. Contact the Bureau at (207) 287-4190 for an application and filing instructions.
• Agencies licensed as a Corporation, Limited Liability Company or Limited Partnership in another state must file with the Maine Secretary of State, Bureau of Corporations as a foreign business entity.

• Biennial renewal fee is $80.00.
• A $50.00 late fee is assessed for licenses renewed after the expire date.

• Two (2) Years
  This license renews biennially on the anniversary of the original license.

• This license must be renewed on or before the expire date by submitting the renewal application and payment of the prescribed fee for the agency to remain properly licensed to conduct real estate brokerage.
  

• An agency whose application for renewal is submitted more than ninety (90) days after the license expire date is subject to all requirements governing new agency applicants and is required to reapply with original license application, documentation and fees to reinstate the license.

• Renewal reminders are mailed at least 30 days prior to the license expire date. It is the designated broker's responsibility to keep the Commission informed of the current license address and to see that the license is renewed absent the renewal application. This license may be renewed online up to sixty days prior to expiration.

• 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.

Warning: 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.