Sunday, June 12, 2022
In the United States, real estate career professionals must meet continuing educational requirements for license renewal. Educational related areas are chosen to ensure compliance with current federal, state, and local laws and regulations.
In Maryland, the Maryland Real Estate Commission (MREC) maintains the education records for each licensee for the individual's two year license term.
Accredited institutions provide the course completion information to MREC for each licensee.
This past week, I completed another 1.5 hours in elective courses, which in part- are required for license renewal (in my case in April 2024).
I now have a total of 3.5 elective course hours of a needed 4.5 hours. I also need 10.5 hours in required courses (i.e., fair housing, ethics, brokerage relations and disclosure) for license renewal. In total, Maryland requires 15 hours of continuing education for license renewal for salespersons and associate brokers.
The cost of continuing education to maintain real estate licenses varies depending on the type of course. The elective courses I took were free through my broker's office or another popular firm in the area.
I have just under two years to complete my continuing education for license renewal. The cost to acquire and maintain a real estate license can be a factor in your decision to become a professional in the industry.
The illustration below shows the U.S. Department of Labor's 2021 wage data for real estate agents in the Washington, DC region.
Click on the chart to query the application which provides this information- for your specific region. Note, the Dept. of Labor recently updated the wage data for all professions from survey year 2020 to 2021.