Real Estate Agent Permit Requirements in Boston, MA

1. EIN (Employer Identification Number)

   Required if you operate as an LLC, corporation, or have employees. Free from the IRS. Even sole proprietors may benefit from obtaining an EIN to keep business and personal finances separate.

   Official government source

   Free·Immediate (online application)

   Free

   Immediate (online application)

1. Massachusetts Board of Registration of Real Estate Brokers and Salespersons — Salesperson License

   To sell real estate in Massachusetts you must be at least 18, complete 40 hours of education at a Board-approved real estate school, supply three candidate endorsements (not relatives or classmates), and pass the salesperson licensing exam administered by PSI. You must work under a licensed broker. Your license is printed and issued at the testing center as soon as you pass. Licenses run from the exam date to your birthday, two to three years out, and renewal requires 12 hours of continuing education.

   Official government source

   $85 salesperson exam fee (non-refundable, valid one year; $54 to reschedule a missed exam). Renewal is $103. The 40-hour pre-licensing course is bought from a private Board-approved school, which sets its own price.·Set by how quickly you finish the 40-hour course and schedule the PSI exam; the license itself is issued at the testing center the day you pass

   $85 salesperson exam fee (non-refundable, valid one year; $54 to reschedule a missed exam). Renewal is $103. The 40-hour pre-licensing course is bought from a private Board-approved school, which sets its own price.

   Set by how quickly you finish the 40-hour course and schedule the PSI exam; the license itself is issued at the testing center the day you pass

2. Errors and Omissions Insurance for a Massachusetts Real Estate Agent (Not State-Mandated)

   Massachusetts does not require real estate salespersons or brokers to carry errors and omissions insurance. The Board of Registration of Real Estate Brokers and Salespersons, under the Division of Occupational Licensure, conditions licensure on education, examination and, for brokers, a surety bond — not on E&O cover. In practice the requirement comes from your brokerage: because a salesperson may only work under a sponsoring broker, the broker's policy and its terms usually decide whether you are covered under the firm's policy, must buy your own endorsement, or must carry a separate policy. Ask your sponsoring broker before you buy anything, since paying twice for overlapping cover is common. Confirm any carrier you consider is admitted to do business in Massachusetts through the Division of Insurance.

   Official government source

   There is no state fee, because the Commonwealth does not require this cover. Premiums are set by the carrier and vary with claims history, transaction volume, deductible and the limits your brokerage requires, so quote the specific limits your broker demands rather than budgeting from a general figure.·A carrier can usually bind cover quickly once the application and any loss-run history are submitted. Get your brokerage's insurance requirements in writing first, so you buy the limits the firm actually requires rather than re-buying cover the firm's own policy already provides.

   There is no state fee, because the Commonwealth does not require this cover. Premiums are set by the carrier and vary with claims history, transaction volume, deductible and the limits your brokerage requires, so quote the specific limits your broker demands rather than budgeting from a general figure.

   A carrier can usually bind cover quickly once the application and any loss-run history are submitted. Get your brokerage's insurance requirements in writing first, so you buy the limits the firm actually requires rather than re-buying cover the firm's own policy already provides.

1. City of Boston Business Certificate and Massachusetts Real Estate Business License

   An individual salesperson or broker licensed by the Board of Registration of Real Estate Brokers and Salespersons needs no separate Boston license — Boston issues no general business or brokerage license. Two things do apply if you open your own brokerage. First, if you operate under a trade name, file a Business Certificate with the Boston City Clerk. Second, state law requires real estate businesses organized as corporations, LLCs, LLPs, or general partnerships to hold a Real Estate Business License from the Board; a sole proprietorship — a licensed broker operating under their own broker's license with no employees — is exempt, though it must email the Board a certified copy of its DBA certificate if it uses any name other than the broker's exact name. The business license application requires a notarized CORI form for the broker of record, a Certificate of Legal Existence or Letter of Good Standing from the Secretary of the Commonwealth, a list of officers, a $5,000 surety bond in the entity's exact name from a Board-approved bond company, and for LLCs and LLPs an errors and omissions policy meeting 254 CMR 2.00(12).

   Official government source

   $65 for the Boston Business Certificate ($100 if you are not a Massachusetts resident). For the state Real Estate Business License, the Board's page states a $52 application fee plus a $221 license fee charged together, while its fee table lists a combined application and license fee of $492 — check the amount shown at checkout in eLIPSE. A $5,000 surety bond is also required, priced by the bond company.·The Business Certificate is same-day in person at the City Clerk's Office, Room 601, 1 City Hall Square. The Board takes at least 10 business days to review a complete business licence application; once approved the license number appears on your account immediately and shows in Check a License within 24 to 48 hours.

   $65 for the Boston Business Certificate ($100 if you are not a Massachusetts resident). For the state Real Estate Business License, the Board's page states a $52 application fee plus a $221 license fee charged together, while its fee table lists a combined application and license fee of $492 — check the amount shown at checkout in eLIPSE. A $5,000 surety bond is also required, priced by the bond company.

   The Business Certificate is same-day in person at the City Clerk's Office, Room 601, 1 City Hall Square. The Board takes at least 10 business days to review a complete business licence application; once approved the license number appears on your account immediately and shows in Check a License within 24 to 48 hours.

Official Sources

• City of Boston — Business Registration
• Massachusetts Board of Registration of Real Estate Brokers and Salespersons

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