To sell or lease real estate in Montana and earn a commission, you must have a Montana Real Estate License.
The steps to obtain a MT Real Estate License:
Step #1: Take the 70-hour Pre-License Course.
Step #2: Schedule your state exam.
Step #3: Pass your MT State License Exam.
Step #4: Purchase E&O insurance.
Step #5: Be hired by an endorsed MT supervising broker.
Step #6: Submit your license application.
To qualify for a real estate salesperson license in Montana, first you must be at least 18 years of age. You must have received credit for completing two years of a full curriculum of study at an accredited high school or its equivalent.
If you meet these basic requirements, proceed through the following (6) steps to earn your license.
Step 1: Complete 70 hours of pre-licensing education
All new salespersons must take 70 hours of pre-licensing education from a state approved course provider. The course of study must include the topics outlined in Rule 24.210.660. Generally, these cover real estate practice, real estate law and ethics, real estate finance, and other related topics. The course will have an exam on the taught material. Your course completion certificate is valid for two years.
Step 2: Schedule the state licensing exam
Montana has contracted with PSI services to administer the state licensing exam. PSI recommends online scheduling as the easiest and fastest way to schedule your state licensing exam. All you need to do is go online to www.psiexams.com and create an account. When you enter your zip code, you’ll see a list of the closest examination sites to you.
You do have the option of telephone scheduling by calling 855-898-0716.
The exam fee is $106. The fee is nonrefundable.
PSI test centers are available in Billings, Helena, Kalispell, and Missoula. A full list of addresses, directions, and more testing information is found in the Candidate Information Handbook.
Step 3: Pass the state licensing exam
All test takers must bring to the test center two forms of identification. One ID must be a valid, government-issued identification such as a driver's license, state ID, or passport. The government-issued ID must have your signature and photograph. The second ID must have your signature and preprinted legal name.
Your Montana salesperson exam contains:
The Candidate Information Handbook has an outline of the content tested and the percentage of questions asked in each topic area.
Immediately upon the completion of your exam, you will receive a score report. Your passing score is good for one year. If you do not pass, PSI will provide you with a diagnostic report containing information about your test strengths and weaknesses.
Step 4: Be hired by a Montana licensed broker with a supervising broker endorsement
All salespersons must work under the supervision of a Montana licensed real estate broker that has a supervising broker endorsement. The supervising broker will endorse your application and attest that they will be responsible for your work and education.
Step 5: Purchase Errors and Omissions Insurance
Licensed salespersons are required to carry Errors & Omissions insurance. You must continuously maintain this professional liability coverage. The Montana Board of Realty Regulation (MBRR) offers a group professional policy through Rice Insurance Services Company (RISC) that costs as low as $168.
You may purchase professional liability coverage outside of the group program as long as your coverage meets the state requirements. You need to provide the proof of coverage to the board. All new licensees must have insurance before their license can be activated.
Step 6: Apply for your Montana real estate salesperson license
Your real estate salesperson application requires documentation of:
The license application fee is $150. Online applicants can pay with a credit card or a bank account. Any paper applications must include a check or money order.
The MBRR communicates primarily by email. Once they review and approve your application, congratulations! You are a Montana real estate salesperson.