Code of Massachusetts Regulations
254 CMR - BOARD OF REGISTRATION OF REAL ESTATE BROKERS AND SALESMEN
Title 254 CMR 2.00 - Licensure
Section 2.00 - Licensure
Current through Register 1531, September 27, 2024
(1) Purpose. 254 CMR 2.00 sets forth the application procedures, examination, experience, good moral character requirements for licensure.
(2) Applications. Applications for licenses shall be made on forms furnished by the Board and shall be accompanied by the prescribed fee.
(3) Examinations. No broker or salesperson license shall be issued to any individual unless such individual satisfactorily passes a written examination conducted by the Board or its agent. Prior to taking the examination applicants must submit certification to the Board that the required education has been completed. This certification shall be valid for a period not to exceed 24 months following the date on which the education was completed. Any applicant who is an attorney at law in good standing of this Commonwealth shall not be required to take such examination.
(4) Re-examination. An individual who fails to pass the written examination for a real estate broker or salesperson may be re-examined by paying the prescribed fee.
(5) License Fees. An individual who has been notified of passing the examination for real estate broker or salesperson must pay the prescribed fee within 30 days from the date of notification. If the required fee is not paid within the specified time period the individual shall be required to be re-examined and pay the prescribed fee for such examination. This requirement may be waived by the Board upon showing of good cause.
(6) Experience Requirement for License as a Broker. A salesperson seeking licensure as a real estate broker must:
(7) Moral Character. Each individual seeking a license as a broker or salesperson shall furnish evidence of good moral character. Applications for a license shall be accompanied by the recommendations of three reputable citizens, not related to the applicant, who reside in or have their place of business in the Commonwealth. Each recommendation shall certify that the individual bears a good reputation for honesty and fair dealing and shall recommend that a license be granted to such individual.
(8) Personal Appearance. Applicants may be required to appear at the office of the Board for an interview.
(9) Qualification Reports. The Board may require each individual seeking a license to submit a report from an independent source pertaining to the individual's previous occupation or any other information which is material to the qualification of such individual for a license.
(10) Surety Bonds. No broker's license shall issue or be renewed until such broker gives the Board the bond required by M.G.L. c. 112, § 87TT.
(11) Business Entities. No licensee may engage in the business of real estate brokering in a corporation, limited liability company (LLC), partnership, limited liability partnership (LLP), association or society unless the entity is licensed by the Board.
No broker's license shall issue to a corporation, LLC, partnership, LLP, association or society unless an officer in such corporation, society or association or partner in a partnership is a licensed broker in the Commonwealth and designated as the broker of record for the entity. The broker of record must be currently licensed at all times, otherwise the license of the entity shall cease. The broker of record shall be in responsible charge of the business entity and personally responsible for the acts of the entity and its employees and agents.
(12) LLC, LLP Insurance. An LLC and LLP must maintain professional liability insurance which meets the following minimum standards:
(13) Reciprocal Licensure. The Board may issue a real estate salesperson or brokers license to individuals licensed in other states or jurisdictions without requiring the satisfaction of the education and examination requirements where such other state or jurisdiction has laws similar to the Commonwealth governing the practice of real estate brokering and extends the same privilege to licensed Massachusetts real estate brokers and salespersons. Applicants for reciprocal licensure shall apply on the form provided by the Board and pay the prescribed fee.
(14) License Renewal. Any license renewal sought after license expiration must be on the form provided by the Board and verify to the Board's satisfaction completion of continuing education as required by M.G.L. c. 112, § 87XX1/2, and be accompanied by the prescribed fee.