Montana is a fantastic place to work as a real estate agent. If you are still trying to get your feet wet in the real estate industry, you need to know what to expect. The answers to these frequently asked questions will help you as you move along in the field.
1. How Do I Renew My Real Estate License?
The renewal process in Montana is determined by the Board of Realty Regulation. The board has determined that all real estate licenses expire on October 31st of each year. Within 60 days of this expiration date, you are eligible to renew your license. The earlier you renew your license, the easier you can have peace of mind.
In order to renew your license, you must meet continuing education requirements. Active real estate salespersons are required to complete 12 hours of education each year. If this is your first year renewing, you must complete a rookie course.
2. How Do I Obtain a Real Estate Salesperson License?
If you want to become a real estate salesperson, you are first required to take required education. This includes at least a 10th-grade education and 60 hours of pre-licensing coursework. Courses must first be approved by the real estate board.
Real estate candidates must take the real estate exam and receive a passing score. You must also submit a licensing fee of $150 when you turn in your application.
3. What Are the Requirements to Become a Montana Real Estate Broker?
If you want to become a real estate broker, you must possess two years of experience as a licensed real estate salesperson. You must also have passed a Montana broker exam with a score of 80% on both the federal and the state portion. Within three years of submitting an application you must also complete 30 residential transactions and 10 commercial or agricultural transactions.
4. How Do I Register for the Montana Real Estate Sales Exam?
You can register to take the real estate sales exam through Go Amp. You will need to provide evidence that you have completed your real estate education and pay a $106 fee. You will need to travel to Billings, Great Falls, or Missoula to take the test, so make sure to schedule your trip accordingly.
5. What Should I Expect from the Montana Real Estate Exam?
The Montana real estate exam consists of two portions: national and federal. The test consists of 28 questions about agency relationships and contracts, 13 questions about real property ownership, 14 questions about finance, 14 questions about real property, 10 questions about marketing regulations, 8 questions about property management, and 13 questions about real estate calculations.
The candidate handbook for the examination contains practice questions that will help you study for the day of the test.
6. What Kind of Courses Can I Take to Meet Continuing Education Requirements?
The Montana real estate board must approve all course topics. Topics may include issues like agency, agriculture, consumer tax, ethics, data security, land use planning, finance, conflict resolution, risk reduction, fair housing, energy conservation, and real estate law.
Are you looking forward to a career change or expansion of your current duties? We can help you. Contact us for more information about continuing education requirements in Montana.