Frequently Asked Questions - Real Estate Pre-License Live Lecture Classes
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Our Frequently Asked Questions (FAQ) make it easy for you to find answers to your most pressing inquiries related to our Real Estate school, Real Estate Pre-License Live Lecture Classes and Real Estate Education.
If you can't find your answer here, please feel free to
contact us.
School
Appraisal Courses
Common
Sales Persons
License
Exam
Brokers
Continuing Education
School
1. What type of courses do you offer at your school?
The Lee Institute offers a wide variety of courses including online courses for real estate continuing education. We also offer Real Estate Salespersons and Brokers 40 hour live or supervised audio/cd or video courses. If you want your real estate license you must complete the 40 hour program in Massachusetts and pass the state's examination. The Lee Institute also provides courses for licensing in Appraisal, Mortgage and Home Inspection. For more information about our programs please visit our class schedules page for upcoming course dates and locations.
2. When will the next class begin?
Classes begin at all times throughout the weeks and months of the year. You can find our scheduled but clicking
Class Schedules today!!!
3. How do I register for a class?
4. If I register for a class and need to change it later, is that o.k?
Yes
5. How much do your courses cost?
6. Are text books included in the course fee?
No.
7. Who are the instructors?
All our instructors are licensed and approved by the state.
8. Where can I take a course?
9. Do you offer accelerated or weekend courses?
10. How does the state board find out we completed required continuing-ed courses?
They monitor all active license numbers from our school's data base system in the continuing education program within each 6-month period.
11. What course formats and schedules are offered?
12. What are the steps I need to take to renew my license?
Real Estate Brokers & Salespersons Licensees:
- Complete the 12 hours required for licensing renewal
- Answer yes on question #2 of your license renewal form application.
- Complete answering all questions on the renewal form and fill in
all information necessary for processing, e.g. social security number
or any change of address, etc.
- Pay the fee owed to the board and mail to the Board of Registration
for Real Estate, (THIS WILL ACTIVATE YOUR LICENSE OR CONTINUE TO KEEP
LICENSE IN ACTIVE FORM.)
- If you decide to inactivate the license just answer question #2 with
NO follow the same procedure as above, (THIS WILL INACTIVATE YOUR LICENSE).
All licensees cannot use their license in this case and will be allow
only collecting referral fees only; no commission fees can be earned.
- Any time a inactivate license needs to be activated, the licensee needs
to complete the 12 hour continuing education course and later fill out
a activation form sent to them by the board. This form needs to be sent
back the board and at this point the license will become active again.
Real Estate Appraiser Licensees:
13. Can I repeat the class if I don't pass the state's exam?
The student is allowed to repeat their course according their completion date.
14. What is your refund policy?
Lee Institute provide a refund to all registration subject to our school policy. Please view our policy found in the home page.
Appraisal Courses
1. What Happens if I fail the state's exam?
Appraisers: The applicant may re-take the state's exam as often as necessary within the two year limit by scheduling another appointment and paying the re-take fee.
2. When we pass the state's exam, do we get the license on the spot?
Appraisal: Exam results are known at the exam center on the day the exam is taken. However, the appraisal license is issued by the Board of Registration within a few weeks after passing the exam.
3. How does the license process work in appraisal?
Appraisal Exams: Other than a trainee, the license candidate must submit a completed application to the Board of Registration of Real Estate Appraisers which meets the Board's requirements for the level of license requested. The Board will review the application and then notify the candidate in writing that he/she is eligible to take the state administered exam for that license. The candidate will be given information about contacting the state's testing service to schedule an exam appointment. The exam must be passed within two years from this notification or a new application must be submitted.
Common
1. What if I have had a real estate license before?
Any student who enrolls in any real estate pre-license course who has held a salesperson or broker license in the state of Massachusetts anytime regardless of license status will not be certified to be tested for licensing. One must complete 12 hours of continuing education and call the Real Estate Licensing Board to activate an expired or lapsed license
2. Does Massachusetts have reciprocity with other states?
It depends!! Please contact your state boards for more information.
Sales Persons
1. What is the purpose of the Salesperson Course?
The Salesperson course prepares the student to pass the Massachusetts license examination. This is the first license one must have to practice real estate here in Massachusetts. Since 1956 we have trained thousands who have become successful salespersons and brokers. The purpose of the course is to prepare students to pass the MA salesperson's exam, understand the essentials of real estate practice and educate the student on how to make $$ in real estate.
2. What are the requirements for the salesperson license?
Good question!!!
The student must:
- Be 18 years of age.
- Must hold a valid social security number or temporary work ID number.
- Attend the 40-hour approved course.
- Pass the state exam within 2 years of course completion.
- Pay license fee upon passing the exam.
3. What is the name of the testing service for licensing?
The name of the testing service is PSI Services LLC
4. Where can we take the exam?
The PSI Services centers are located as following:
Auburn
8 Sword St, Unit 204
Auburn, MA 01501
Charleston
56 Roland St., Suite 211
Washington Crossing
Charlestown, MA 02129
Fall River
218 South Main St., Suite 105
Fall River, MA 02721
Lawrence
1 Ballard Way., Suite 104
Lawrence, MA 01843
and
West Springfield
1111 Elm St., Suite 32A
West Springfield, MA 01089
5. How many hours is the Massachusetts real estate course?
The total hours is 40 necessary to complete the course.
6. How much time do we have when taking our exam?
There are a total of 240 minutes. The General portion totals 150 minutes and the State is 90 minutes.
License
1. When is a Real Estate License Needed?
When employed by another for a fee, called a commission....to Sell, Rent, Bargain or Exchange.... in a real Estate Transaction!!
2. What is the Difference between the Broker license and the Salesperson License?
The Lee Institute offers two preparation courses for licensing in real estate here in Massachusetts. The difference is that the broker student is a salesperson or have been licensed at one time as a salesperson with at least 3 years experience as an agent. If they are interested in opening their own real estate office, hire others to work on their behalf or are willing to work for themselves then the broker license is required. The salesperson must work on behalf of the broker.
3. What is the process of renewing my real estate license?
Every two years on your birthday you renew your license. It is important to remember that before renewing you should be receiving your renewal notice from the Commonwealth of MA or MA Real Estate Board of Real Estate asking for the renewal process to be completed. If you have not received your renewal notice within 6 weeks of your license expiration date please contact the MA Real Estate Board at (617) 727-2373, option 6 and speak with the board about your license renewal. Please provide them your license number or any address that has been changed. Failure to do this may result in late fees. All licensees in MA whether be salespersons or brokers must complete 12 hours of continuing education to renew the license. Please vist our continuing education schedule links on this website. Lee Institute is the ONLY primary provider for online continuing education courses.
Exam
1. What is the cost and the process of setting up the salesperson examination?
The cost of the salesperson's exam is $85.00 paid to the testing service at the time of reservation. After completing your course, congratulations!!! The Lee Institute will provide you the necessary paperwork for making reservation for your exam. Your may download the
candidate handbook for your reviewing. You may reserve a test day by phone at this time, however the test service is now ready for on-line.
2. How much time do we have to complete the exam and how many questions do they ask?
There are 120 multiple choice questions consisting of 2 parts. A score of 70 percent of pass is required for each part. One part consist of 80 questions relative to the general portion of real estate practices. The other part consist of 40 questions on the MA state laws and regulations. The test service also includes 5-10 additional pre-test questions on both sections unrelated to the exam score. You have 4 hours to complete.
3. Do we use a computer while being tested?
Yes!! Today the exam is administered on a small computer. The testing process is quite simple. You will be able to control the computer monitor with a mouse. It will be very easy to select your answer, mark your question for review or skip the question while being tested. After completing your exam your will receive your results instantaneous with either pass or fail.
4. What happens if i have trouble passing the state examination?
Well you may retake the state exam anytime after your test by contacting PSI Services. They will provide you the next available date possible for your retake. The cost of retaking the exam is $54.00. This fee is apply each time a exam is retaken. The Lee Institute does not like to hear our students say the word retake. Our goal here at Lee Institute is to not see you take the exam 2, 3 or 4 times but once that is our goal. We will help assist you in getting your license by providing you the opportunity to sit in the next available class as a repeat student. For all repeat students please visit our school policy as it applies to your certification booklet.
5. Where are the exam locations?
The PSI Services centers are located as following:
Auburn
8 Sword St, Unit 204
Auburn, MA 01501
Charleston
56 Roland St., Suite 211
Washington Crossing
Charlestown, MA 02129
Fall River
218 South Main St., Suite 105
Fall River, MA 02721
Lawrence
1 Ballard Way., Suite 104
Lawrence, MA 01843
and
West Springfield
1111 Elm St., Suite 32A
West Springfield, MA 01089
6. What other costs are associated with the license after passing the exam?
Congratulation!! You passed your real estate examination!! After receiving your license you must pay the Commonwealth of Massachusetts for a 2-year prorated license. The cost for the license can be anywhere from $103.00 to $150.00 depending on the birthdate of the tester. For instance, if your pass your exam on July 4th and your birthday is January 1st, then the cost of your license will be prorated two years from January 1st of that new year. You will then have a license from July 4th to the expiration date given to you that day which will be longer than two years and the cost will be prorated in this case. You will then receive what is considered your first license. Please be ready to pay for your license the day of the exam. However, you are given 30 days from the test date to pay the Commonwealth for the license.
7. Who administers the exam in Massachusetts for the salesperson and brokers license?
The state testing agency call PSI Testing Services.
Brokers
1. How many hours is the Massachusetts broker real estate course?
The broker course requires 40 hours to complete.
2. After completing the course what do we bring to the testing center?
You will need your completiong certificate filled out properly. You will need a real estate broker bond as well. Also bring with you two forms of identification partially your divers license and photo ID. It is important to ask the school any questions concerning the broker preparation paperwork before testing. If the student is not properly prepared for the exam may result in the lost of the testing fee and possibly you may have to reschedule your exam once again.
3. How much is the broker bond?
The cost is $50 for 5 -year term. The bond covers liability for loss of escrow monies up to $5,000.
4. How many questions are on the broker's exam?
There are a total of 120 questions consisting of two parts the General and State portions. The General is 80 questions and the State is 40.
5. How much time do we have when taking our exam?
There are a total of 240 minutes. The General portion totals 150 minutes and the State is 90 minutes.
Continuing Education
1. How many hours does Massachusetts require for the continuing education credits?
Massachusetts requires 12 hours of CE credits to renew a real estate license for active status. If your license is inactive then you must complete the reactivation form and complete the 12 hours of CE.
2. What happens if i do not complete the 12 hours of continuing education?
Well the board can take notice at any time a renewal of a license had expired. They may place your status as expired beyond one renewal cycle or lapsed. Therefore you may not be able to practice as a real estate licensee in the state and you must complete the 12 hours first and pay the late fees and renewal in order to continue to practice as a active real estate licensee.
3. Can continuing education credits be used for the broker education while studying for the broker license?
No! Continuing education can only be used for CE credit! The broker course requires a 40 hour program that is separate from all courses associated with the license.
4. How do I renew an inactive licensee?
You will need to complete the
Reactivation Form for Inactive Licenses form after completing 12 hours of continuing education and send it in to the Massachusetts Real Estate Board, 1000 Washington St02118-6100
., 7th Floor, Boston, MA
Main Office: (617) 734-3211
