Montana real estate licensees who successfully complete both national and state portions of the real estate exam as well as all licensing requirements can begin their careers as licensed salespersons. All salespersons must maintain professional liability insurance to legally operate.
Anyone preparing for the real estate exam should purchase a Montana prelicensing course package from 360training Agent Campus. These self-paced packages include exam prep courses, downloadable study tools and companion textbooks for optimal study of this exam.
Education Requirements
If you wish to practice real estate in Montana, pre-licensing education must be completed first. This often entails courses on fundamentals of real estate law; federal and state real estate regulations; as well as local market knowledge. Furthermore, most pre-licensing courses include real estate practice problems and quizzes to help prepare you for taking the state licensing examinations.
Once you’ve finished your coursework, before applying for your license in Montana real estate you must pass both national and state portions of the Montana real estate exam administered by PSI at one of its testing centers. PSI allows you to schedule your test online and once taken it will provide instantaneous feedback and results with any failed areas receiving diagnostic feedback reports from PSI.
As part of your preparation, it is key to create an individual study schedule tailored specifically for you. Your schedule should take into account other commitments as well as any challenging real estate exam topics you need to master. Once created, try and stick with it as much as possible – this will give you the best chance at passing first time around and beginning a real estate career in Montana!
Montana real estate licensing exams are designed to ensure that only qualified real estate professionals are granted licenses in Montana. As such, this test can be challenging and you should plan to devote considerable time and energy studying for it; there are pre-licensing courses and online resources that can provide assistance in this regard.
Finding a study partner to assist with exam preparation is highly recommended. Doing so can keep you motivated, on track, and moving closer towards becoming a Montana real estate agent. PrepAgent also offers comprehensive exam prep programs designed to give you all of the tools needed for passing licensing exams on the first try.
Exam Requirements
In Montana, becoming a licensed real estate salesperson requires passing the state licensing exam administered by PSI. You can schedule the test online but make sure you are ready to answer questions regarding your criminal past as this could impact whether or not you receive your license.
Exams administered at PSI test centers in Montana will give you three and a half hours to take and pass their exam, consisting of 115 questions in both national and state-specific sections. You should create a study schedule tailored specifically for your lifestyle and learning habits; more study leads to better preparation but be wary not overdoing it the night before an exam; staying awake too long may negatively impact performance on it.
While studying, take special note of any material you find challenging, and devote extra effort towards those topics. By familiarizing yourself with this material and practicing as much as possible prior to taking the exam, your confidence will increase immensely and your real estate industry experience will become easier once your license has arrived in your hands.
On the state portion of the exam will be math questions that require additional time and focus; typically these problems pertain to real world issues like property taxes, return on investments, equity or loan-to-value ratio.
Once you’ve passed the exam, it’s time to submit your licensing application. Either do this online through the MBRR’s eBiz Online system, or submit a paper version directly to them. Generally speaking, submissions typically take five business days to process; once approved you’ll receive notification via email that your licensing document has been sent directly to you. Should any problems arise regarding this application process please email the Board immediately for support.
Insurance Requirements
Montana Board of Realty Regulation regulates real estate salespersons and brokers. Acquiring your license involves education, passing a rigorous exam and meeting other approvals – an effort which takes dedication and persistence; having a good support network can be particularly helpful; as well as being financially prepared – this includes costs such as pre-licensing courses, exam fees and any incidental costs that might occur along the way.
Montana real estate licensing process starts with taking an approved pre-licensing course, either through in-person classes available across Montana or through one of many licensed online real estate schools offering education. Online schools may provide more flexibility for those needing to balance different obligations or commitments with studying real estate online courses.
Once all pre-licensing course requirements have been fulfilled, candidates can take both state and national portions of the real estate exam administered by PSI. It has 113 questions with a minimum score requirement of 70% and can be scheduled online through their website; results from PSI exams only last one year before expiring; for more detailed testing information before taking an exam it is highly advised that candidates review the Candidate Information Bulletin prior to sitting the examination.
Most states mandate real estate agents carry error and omissions insurance as a safeguard in case their errors cause financial harm for clients during transactions. This form of coverage can either be included as part of general liability coverage or bought separately; many brokerage firms require it as part of their requirements.
Felons with criminal records may still qualify as real estate agents in Montana. Anyone with such a history should disclose it on their application, and Montana Bureau of Real Estate Regulatory (MBRR) will review each application on an individual basis, taking into consideration information like your background history, conviction history and any additional relevant factors.
License Application
Once you’ve fulfilled all the educational and exam requirements, it is time to submit your Montana real estate license application. Either you can do this online via Montana’s eBiz system, or print and mail out an application directly to the Montana Board of Realty Regulation.
Montana real estate licenses are essential to anyone pursuing a career in real estate. Montana’s licensing process is well-defined and designed to protect consumers from unlicensed, unethical agents; The Board of Realty Regulation oversees this process as well as education requirements and examination criteria, among other duties.
Step one in earning your Montana real estate license is taking the required 70-hour pre-licensing course, either online, in a classroom setting, or via hybrid learning format – whatever best meets your study needs and schedule. This course will equip you for both national and state real estate exams that must be passed successfully for licensing to occur.
Once you pass your exam, you can apply for your Montana real estate license via MBRR’s eBiz system. Before beginning to sell real estate as an agent in Montana, proof of professional liability insurance must also be presented to the Board of Realty Regulation. Rice Insurance Services Company offers group professional policies at just $168 annually that is mandatory for new licensees.
Once your application is submitted to the Board of Realty Regulation, processing can take up to 10 business days before receiving your Montana real estate license document and being able to start building professional networks and pursuing career opportunities in real estate.
Steps toward earning your Montana real estate license may seem straightforward, but to increase your odds of success it’s essential that you establish and stick to an effective study schedule tailored specifically to you. This will ensure you’re properly equipped for the real estate exam and have a higher chance of passing it successfully.