Massachusetts Real Estate Broker Bond
1. Start Your Application
2. Receive Your Free Quote
3. Buy Your Surety Bond
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How Much Does Massachusetts Real Estate Broker Bond Cost?
The cost of a Massachusetts real estate broker bond costs between $100 and $500. The state requires real estate brokers to have a $5,000 surety bond. Instead of paying the bond’s penal sum, you can make your purchase through a surety company and pay a bond premium.
As an authorized surety company in Massachusetts, we have served the state’s bond needs for more than a decade. Our bond rates range from 1% to 10% and are based on several qualifying factors. These include an applicant’s credit scores, professional experience and financial assets.
We provide bonds to applicants with most credit scores. In fact, over 99% of applicants qualify for a surety bond through our company. The rate for applicants with a 700 credit score or better is between 1% and 3%. With this score, a real estate broker bond of $5,000 will cost between $100 and $150.
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Surety Bond Cost Based on Credit Score |
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Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
Massachusetts Real Estate Broker Bond |
$5,000 |
$100 - $150 |
$150 - $250 |
$250 - $500 |
How to Get a Massachusetts Real Estate Broker Bond
1. Apply For Your Bond
Our three-step process makes it easy to set up your real estate broker bond without a hassle. The first step is to spend a few minutes filling out the online application.
2. Get Your Bond Quote
Bond applications are reviewed quickly, enabling us to deliver immediate bond quotes to most applicants. However, some applications are more complex and require greater review. In these situations, a bond quote is available in 48 hours or less.
3. Buy Your Bond
To complete your purchase, make your bond premium payment using our convenient online portal. We will then email your bond to you. We are happy to mail your bond as well upon request.
We are proud to be your trusted surety company, and we want you to have a great experience buying your real estate broker bond from us. For support from our bond experts, get in touch with us online or by phone at (877) 514-5146.
Barney was eager to start working as a real estate broker, but he needed a bond before he could apply for the license. He took advantage of our online process to apply for the bond and pay the bond premium. After receiving the bond, he quickly finalized the licensing application.
Apply for a free no-obligations quote on your surety bond!
Real Estate Broker Bond Requirements in Massachusetts
Massachusetts General Laws Chapter 112 establishes licensing requirements for real estate professionals. To apply for a real estate broker license, a $5,000 surety bond is needed. The obligee for a real estate broker bond is the Commonwealth of Massachusetts.
The real estate broker bond is continuous, and it remains active until it is terminated. To terminate the bond, the surety company must provide the Board of Registration of Real Estate Brokers and Salesmen with a 30-day written notice. The notice must be delivered via certified or registered mail.
While the bond is continuous, the bond premium must be paid annually. To assist you with bond maintenance, we will contact you each year prior to the bond premium’s due date with payment instructions.
How to Get Your Real Estate Broker License in Massachusetts
The Massachusetts Board of Registration of Real Estate Brokers and Salespersons is responsible for processing license applications and ensuring regulatory compliance. The following items are needed to apply for a real estate broker license in Massachusetts:
- A passing score on the licensing exam
- 3 years of experience working for a Massachusetts real estate broker
- An active Massachusetts salesperson license
- 40 additional hours of real estate education
- Massachusetts Board of Real Estate Education certificate
- Surety bond
- $154 fee
If you need assistance with your Massachusetts real estate broker license application or have questions, please contact:
Massachusetts Board of Registration of Real Estate Brokers and Salespersons
1000 Washington Street, Suite 710
Boston, MA 02118
Phone: (617) 701-8661
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What Our Clients Have To Say?
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
