Current through Register Vol. 18, September 20, 2024
(1) Applicants for license must make
application on forms approved by the board and accompanied by the required
fee.
(2) No application for license
will be accepted by the board until the individual has made application for and
successfully completed the examination.
(3) All individuals successfully completing
the examination must apply for licensure within 12 months from the date of
examination. Failure to make application within that time shall invalidate the
examination results.
(4) If an
applicant currently holds, or has ever held a real estate license in another
jurisdiction, a license verification from that licensing jurisdiction is
required before a Montana license will be issued.
(5) All experience, including transactions,
must be presented on board forms.
(6) A waiver applicant must hold a current
active license in good standing.
(7) All waiver applicants will be required to
pass the state examination.
(8) In
addition to (1) through (7), all applicants for licensure as a salesperson
must:
(a) submit proof of completing 70 hours
of approved prelicensing education obtained within a period of 24 months
immediately preceding the date of the submission of the application;
and
(b) submit the proposed
supervising broker's certification of the applicant's good repute and the
broker's written acceptance of responsibility for supervising the licensed
activities of the salesperson.
(9) In addition to (1) through (7), all
applicants for licensure as a broker must:
(a)
submit proof of completing 60 hours of approved prelicensing education obtained
within a period of 18 months immediately preceding the date of the submission
of the application; and
(b) submit
for the purpose of determining if a broker applicant has been "actively engaged
as a licensed real estate salesperson," evidence acceptable to the board that
the salesperson has obtained a total of 30 points in any combination of point
types within the past 36 months prior to the date of application. Point types
and values are as follows:
(i) transaction
points:
(A) one point for each closed
residential real estate transaction, no more than five leases;
(B) three points for each closed farm, ranch,
agricultural, or commercial transaction, no more than five leases; or
(C) upon furnishing evidence
satisfactory to the board, an applicant may receive credit for both sides of a
transaction.
(ii)
education points:
(A) three points for an
associate's degree in real estate;
(B) three points for Certified Commercial
Investment Member (CCIM) or Council of Real Estate Broker Managers
(CRB);
(C) five points for a
bachelor's degree or higher in business management;
(D) five points for a juris doctorate;
or
(E) five points for a bachelor's
degree or higher in real estate.
(iii) supervision points are obtained through
supervision of real estate activity for any broker who has supervised real
estate activity a minimum of 36 months:
(A)
one point for each year of real estate brokerage supervisory experience,
maximum of three points;
(B) one
point for each licensed real estate full-time equivalent (FTE) supervised
within the last 36 months, maximum of ten points; or
(C) one point for every five transactions
supervised in the last 36 months, maximum of 15 points.
(iv) educator points are obtained by being an
approved real estate educator in a jurisdiction;
(A) one point for each instructor day
(minimum of six hours) within the past 36 months, maximum of ten
points.
(c)
The experience required by (9)(b) must be legally obtained while licensed as a
real estate licensee in this state, or licensed in another
jurisdiction.
(d) Closed real
estate transactions of property owned by the applicant, by a corporation,
partnership, trust, or other entity in which the applicant has an interest or
by such an entity which employed the applicant as an employee, shall not
qualify as experience under (9)(b), or under
37-51-302,
MCA.
(e) Transactions in which the
applicant only participated as a mortgage broker shall not qualify as
experience under (9)(b) or under
37-51-302,
MCA.
(f) In order for a listing to
be considered a closed real estate transaction, the listing must have
sold.
(g) In order to claim credit
for a transaction, the applicant must have taken an active role in the
transaction as determined by the board, except that a supervising broker may
claim supervision points as provided in (9) above.
(h) No more than one credit total per side
per transaction may be claimed by a team or its members.
(10) The board will review all nonroutine
applications.
AUTH:
37-1-131,
37-51-203, MCA;
IMP:
37-1-131,
37-1-304,
37-51-202,
37-51-302,
37-51-303,
MCA
