How to Become a Licensed Real Estate Agent in Vermont
Vermont Real Estate License Basic Requirements
To become a real estate agent in Vermont, you need to meet the following requirements:
- You must be 18 years or older.
- Must have a high school diploma or GED.
- You must be a U.S. citizen or a legal alien.
Vermont Real Estate License Costs
- Real Estate Agent Education in Vermont: $300 to $500 (approx.)
- Application Fee: $50
- Exam Fee: $115
- License Fee: $50
STEP 1: Prep Education
Sign up and Complete the Pre-licensing Education
In Vermont getting a real estate salesperson license is easy. You need to complete a total of 40 hours of pre-license education that has been approved by the commission.
This can be done by enrolling in a online course like The CE Shop or you can simply find a local real estate school to attend.
STEP 2: Submit a Completed Application
Where to Apply
- Online: You can register online at www.goAMP.com. Once you have submitted your application and credit card payment, you can schedule your examination.
- Paper: You can complete your paper application and mail it along with the appropriate fee i.e. money order or cashiers check. You will receive a confirmation notice from PSI in around two weeks along with the website details and toll-free phone number so that you can schedule the appointment for your exam.
The exam fees for both the national and state salesperson exam is $110. The fee for either the national or state portions of the exam is also $110 each. You can pay the examination fee by credit card—MasterCard, Visa, Discover or American Express or via money order or cashier’s check payable to PSI Services Inc. The fees cannot be paid at the exam venue and the fees are non-refundable and non-transferable.
STEP 3: Pass the State License Test
The Vermont Real Estate Salesperson exam consists of 2 parts—national and state-specific portions. The exam is a computer-based exam with multiple-choice questions. There are 136 questions that must be completed in 4 hours.
The national portion consists of 100 questions, which must be completed in 2.5 hours, while the state-specific section has 36 questions, which must be completed in 1.5 hours. You must get a score of 70% in the national and 75% in the state section to pass. You will get your score as soon as you complete the exam.
Topics Covered in the Test
The topics for the National portion of the real estate salesperson exam and the breakup of questions are as below:
- Agency Relationships and Contracts: 28
- Real Property Ownership/Interest: 13
- Finance: 14
- Real Property: 14
- Marketing Regulations (Purchase and Rental): 10
- Property Management: 8
- Real Estate Calculations: 13
The topics for the State-specific portion of the exam include:
- Real Estate Commission
- Regulations Governing the Activities of Licensees
- Related Laws
- Broker Topics
What to Bring to the Exam Venue?
You must carry 2 forms of identification with you to the exam.
- The primary ID must be a valid, government-issued ID with your name, photo and signature. The ID can be your passport, driver’s license with photo, state ID card or military ID card with photo.
- The 2nd ID must have your name and signature (to verify your signature). You can bring your credit/debit card with signature, student/employment ID with signature or social security card with a signature.
If you pass the real estate exam, you will get your score report and the instruction on how to apply for your real estate license. Your exam results will be sent to the Vermont Real Estate Commission and are used as one of the criteria to determine your eligibility for a license.
If you don’t pass the exam, then your report will indicate your scores and instructions for reapplication. If you pass only the national or state portion of the exam, you have one opportunity to retake the portion you have failed within the next 6 months.
If you fail the second time or the time period is more than 6 months, then you need to take both sections of the exam again. To re-register for the exam, you need to submit the score report along with any changes in the registration information and the appropriate exam fee to PSI.
STEP 4: Apply and Obtain Your License
To get your real estate salesperson license in Vermont, you need to complete the following steps:
- Complete the online application on the official Vermont website along with the non-refundable processing fee of $50.
- Proof of completion of the 40 hours of pre-licensing education.
- Verification of employment or supervision.
- Proof of age.
- Complete and pass the real estate exam.
- Should complete 8 hours of post-licensing education within a period of 90 days after getting your license. This document must be retained for the first renewal.
You can apply for a real estate license in Vermont even if you have an existing criminal record. However, it is best to include your criminal history along with the requisite documents related to your conviction along with the application. When you submit your fingerprints, your application will be sent to the FBI and Division of Criminal Justice Information Systems and your application will be considered on the basis of your own merits.
Vermont does not have any mutual recognition agreements with any other U.S. state.
STEP 5: Finding a Brokerage
As a newbie in the real estate business, it is extremely important to find the right brokerage to work with. This will set your career path and essentially determine your success/failure as a real estate salesperson. Here are a few aspects that you must consider when looking for a real estate brokerage to work with:
- What is the reputation of the brokerage locally and nationally?
- What commission split does the brokerage offer?
- Does the brokerage firm offer leads, marketing and advertising support?
- How does the brokerage support their agents in terms of education, as well as training?
- How technologically advanced is the brokerage and its systems?
- What are the benefits offered by the firm?
- How conducive is the brokerage for your growth?
STEP 6: Post-learning Requirements
As a newly licensed real estate salesperson, you must complete 8 hours of post-licensing education within 90 days of getting your initial license. In addition to this, you must have 16 hours of CE (continuing education) credits for renewal of your license.
The CE requirements are as below:
- Vermont Real Estate Commission Mandatory course: 4 hours
- Elective courses (can include the NAR Code of Ethics): 12 hours. The elective courses must be approved by the VREC.
The CE Shop offers post-licensing education courses on their website. The website offers packages for $69 and individual courses ranging between $19 to $39. The CE Shop offers continuing education packages for $85 to $115 and individual courses ranging between $19 to $39.