Introduction – Important To Read

 

WHO DOES THIS ADDRESS?

If you have reached this page, you are either (1) generally interested in what it takes to enter the real estate profession in Vermont; or (2) specifically interested in the prelicense course offerings of Randy Mayhew School of Real Estate (RMSOR) and/or one of its associates, RECampus and/or Workshops for Modern Real Estate.  You may also have questions about New Hampshire which are covered at the end of this memo.  This memo is mostly written for the novice (someone not familiar with the practice).  If you already know about the practice and the exam and are only interested in the course offerings, you may wish to skip to bottom of the memo.

I am Randy Mayhew and I have been educating persons interested in a real estate career since 1974.  Back then, there was no formal education requirement in Vermont or New Hampshire.  Now there is.  The requirement of obtaining a license has been on the books for a long time, and it still is.

DISCLAIMER:  While I attempt to keep all my information in this memo accurate and up to date, you are ultimately and personally responsible for confirming matters covered in this memo which are relevant to you.  In the process, if you find anything in this memo which is confusing and/or inaccurate or incomplete, please advise me so I can make changes to improve it.

VERMONT

Understanding the process of becoming licensed in Vermont can be confusing.  Many people are given incorrect advice from those already in the practice.  Because I found I was spending so much time on the telephone explaining things to those who are interested, I decided it would be more efficient, and perhaps clearer, to write my thoughts down in this memo for those interested in a real estate career in Vermont.

The real estate profession is regulated by the Vermont Real Estate Commission which is part of the Office of Professional Regulation (OPR) which operates under Vermont’s Secretary of State.  To visit the homepage of the Vermont Real Estate Commission see our Important Links dropdown tab on the website homepage.

There are two types of real estate licenses in Vermont: salesperson and broker.  You must be a salesperson first.  To become a salesperson you must satisfy each of the following requirements:

(1) You must be at least 18 years old; there is no upper limit thankfully!

(2) You must complete the salesperson’s prelicense course of at least 40 hours (we offer this course).

(3) You must pass both a national exam and a Vermont exam within 2 years immediately preceding application.

(4) You must become associated with a Vermont brokerage firm.  A salesperson has no independent authority to perform brokerage services.  All actions of a salesperson are for the benefit of a brokerage firm and its principal broker.

(5) If you are already a licensed salesperson in another jurisdiction, you may be able to skip the 40 hour course and/or the national (but not Vermont) exam.  You would be applying “by endorsement.”  The 40 hour course requirement is usually waived for salespersons currently licensed and in good standing from New Hampshire and some other states.  If you are seeking admission in Vermont “by endorsement” you should contact the Vermont Real Estate Commission for written confirmation regarding requirements and reciprocity issues.  There is no written rule to refer to.

(6)  Effective July 1, 2014,  all new Vermont salesperson licensees are required to complete 8 hours of post license education within 90 days of receiving a Vermont salesperson license.  You may be exempt if you have two years experience as a salesperson in another state and get licensed in Vermont “by endorsement.”

(7)  Last but not least, you should know that EVEN IF you meet all the requirements above which are relevant to you, your application for a license may be denied (or precluded) by reason of matters set forth in 3 VSA §129a or other relevant laws.  For example, if you are a convicted felon your application may be denied or conditioned.  If you are not current in Vermont income or unemployment tax obligations or are delinquent in child support payment obligations you may also have trouble getting an application approved.  If you are concerned about a possible barrier to licensure, you should consult the Vermont Real Estate Commission.

(8) Your primary contact for inquiry to the Vermont Real Estate Commission is Judith Roy whose email is judith.roy@sec.state.vt.us or by phone to 802 828-3228.  I recommend correspondence be in writing both for efficiency and accuracy.  Judith has duties which include several other professions so needless to say, she keeps very busy.

WHAT YOU SHOULD DO FIRST?

What should you do first? (Salesperson candidates)

I recommend that you FIRST talk in general about the profession with friends and others who are currently licensed and practicing in Vermont.  The insight they will provide is most valuable.  After all, why spend your valuable resources and time pursuing a career that may not fit your goals and/or personal and financial requirements.  Currently active professionals will give you an honest assessment of the profession as practiced in Vermont and perhaps will share some real life experiences, both good and bad.  Vermont currently has about 2,100 licensees, half of whom are salespersons and half of whom are brokers.  There are about 550 brokerage firms ranging in size from 220 to 1.

REMEMBER – Before you can be licensed, you will actually need to become formally associated with a Vermont brokerage firm.  Each brokerage firm has a principal broker who is effectively the CEO for the firm. The principal broker is the alter ego of the firm: s/he makes all decisions, policies, directives etc.  Many firms have managers and human resource personnel as well.  Many firms have branch offices which operate under the same name.  Each branch office has a “broker in charge” and this broker should not be confused with the “principal broker” mentioned above.  I strongly recommend you get a clear idea of what the firm will do for new associates in terms of training, guidance, professional advancement, and compensation.  You will be expected to sign a contract with a firm before they accept you as an agent.  You should also ask if it will be necessary to join any professional associations as a condition of joining the firm.  Get approximate costs.  If the firm requires a written agreement regarding independent contractor status for federal tax purposes or for any other matter, you should request a copy so you know exactly what will be expected of you.  You should consult your tax adviser for the meaning.

WHAT DO YOU DO NEXT?

After understanding the requirements for licensure and doing a little general research about the profession, you should become familiar with the national and Vermont exam requirements.  Currently, the Vermont Real Estate Commission has hired Applied Measurement Professionals, Inc (“AMP”) to administer both its national exam and its Vermont exam.  The AMP website is www.goamp.com.   You should download AMP’s Vermont Candidate’s Handbook to get all the details about the examinations and their administrative procedures.  The AMP Vermont Candidate’s Handbook is also found on our Important Links dropdown tab on the website homepage.

From the Vermont Candidate’s Handbook you should realize that:

(1)  There are two separate exams:  national and Vermont.  You get separate grades for the national and Vermont portions.  You must pass both.  A special rule provides:  “A candidate who fails one part of the exam may retake that part within the next six months.  After six months or two failures, the candidate must retake the full exam.”

(2) Exams for salespersons and brokers are different.  Salesperson exams are all multiple choice.  Broker exams are divided between simulation exercises for the national portion and multiple choice for the Vermont portion.  AMP currently lists four exams for VT:  Salesperson, Broker, Salesperson Reciprocity, and Broker Reciprocity.

(3) Exams can be scheduled any time at many places.  They cost $115 each time (prices change from time to time, so consult the handbook).

(4) Exams are administered via computer with results being delivered immediately upon completion.  The exams are offered twice daily at H&R Block on Shelburne Road in South Burlington.  There are other locations outside of Vermont which are available for Vermont candidates.

WHAT WE OFFER!!

So what do we offer for courses and training?

Randy Mayhew School of Real Estate (RMSOR) offers a variety of courses for the Vermont applicant.  Again, our role is to provide courses and study.  We don’t administer the exams (AMP does) and we don’t handle the application procedures (the Vermont Real Estate Commission does).

For candidates who need both NATIONAL and VERMONT exam study materials:

(1) (Salesperson Candidates Only – Hybrid Study) If you prefer ONLINE study for the national exam and CLASSROOM study for the Vermont exam then you should register for the Hybrid Vermont 40 HR Salesperson Prelicense Course.  Current price is $450 including both components of the course.  Texts are not included.  For an extra $25 you may add review and practice questions via online access.

(2) (Salesperson Candidates Only – Classroom Study) If you prefer CLASSROOM study for BOTH the national exam and the Vermont exam then you should register for the Classroom Vermont 40 HR Salesperson Prelicense Course (most offerings are weekdays – generally Mondays, Tuesdays and Wednesdays).  Current price is $475 including both components of the course (national and state).  We offer these courses in TWO LOCATIONS:  White River Junction/Lebanon NH and the Burlington/Colchester area.  Alternatively you may register for the identical course with Workshops for Modern Real Estate by going to their website (evenings and weekend currently in Claremont and Keene NH).  For the WFMRE website see our Important Links dropdown tab on our website homepage.

(3) (Broker Candidates Only) No national offerings at this time, but we DO offer study for the Vermont portion of the Broker exam.  See Vermont exam study materials below.  See RECampus Bookstore for study guide:  Guide to Passing the AMP Real Estate Broker Simulation Exam by Joyce Bea Sterling DREI, Dearborn Publications, 2012 (CD-Rom included with 12 Broker Simulations).  This practice simulation book is a VERY important study book for broker applicants.

For candidates who need only the VERMONT exam study materials (these people may not need national study due to reciprocity):

(1) (Non-Resident Licensees Applying by Endorsement) If you only need to study for the Vermont exam because you are eligible to become licensed as a SALESPERSON or a BROKER in Vermont by endorsement (see details above) AND you prefer CLASSROOM as well as ONLINE study then you should register for Vermont Law Study.  This registration gives you free access also to our Vermont Law Study Online which is a wholly online offering containing reading materials and practice exams more fully described in another section of this drop down menu.

(2) (Non-Resident Licensees Applying by Endorsement) If you only need to study for the Vermont exam because you are eligible to become licensed as a SALESPERSON or a BROKER in Vermont by endorsement (see details above) AND you are satisfied to with ONLINE study ONLY then you should register for Vermont Law Study Online.

(3) (Vermont Salesperson and Broker Candidates Needing Extra Help) If you are currently studying for the exam with another provider and wish to do extra study through this School to enhance your understanding of Vermont laws and rules relating to the profession then you should register for EITHER or BOTH the Vermont Law Study (classroom) and/or Vermont Law Study Online – Online Questions & Practice Exams.

For candidates who need both NATIONAL and NEW HAMPSHIRE study materials:

(New Hampshire Salesperson and Broker Candidates)  We have three choices for you.  You can attend our daytime White River Junction 40 Hour Prelicense Class for NH credit.  Or, if you prefer evenings, you could join Workshops for Modern Real Estate evenings and weekend classes currently scheduled in Claremont and Keene NH.  Our third choice assumes you already have a Vermont license or a license in another state and you wish to study for the NH portion of New Hampshire’s exam (also administered by AMP).  For this we offer a one day 8 hour review course.

MISCELLANEOUS

Some Special Considerations:

There are some special considerations regarding RMSOR courses which may be relevant to you:

(1) If you start the Hybrid online course and decide it doesn’t work for you, you are credited $225 toward enrolling in the full classroom version, but would need to start from scratch.

(2) Tutoring is available for persons needing extra help.  Currently the school can refer you in the Burlington area for $30 per hour to an experienced broker, teacher, and former regulator.  I am available on a limited basis for $50 per hour.  Group rates may vary.  The most popular area for requested tutoring is MATH.

(3) We accept credit cards: MasterCard VISA American Express and Discover.

WHAT DO I DO NOW?

If you wish to REGISTER for a course, go to the Registration dropdown tab.

If you need more information:

For Vermont, write to Randy at mayhewschool@gmail.com.

For New Hampshire, write to Lynne lynne.m.labombard@gmail.com.

If you have already decided whether you prefer ONLINE or CLASSROOM, fill out the appropriate Express Registration form under this tab.  You will then be contacted to discuss any lingering questions.