Massachusetts Real Estate Brokers and Salespersons School Bond Guide
In Massachusetts, all real estate broker and salesperson schools must file a $20,000 surety bond for state licensing.
Bond Overview
- Purpose: To protect prepaid tuition funds and ensure compliance with regulations
- Who Needs It: All real estate brokers and salesperson schools in Massachusetts
- Regulating Body: The Office of the State Treasurer, Board of Registration of Real Estate Brokers
- Required Coverage: $20,000
- Premium Rate: Credit-based, starting at $200
Keep scrolling to learn more about the bonding process.
What Is a Massachusetts Real Estate Brokers and Salespersons School Bond?
This bond ensures that real estate schools uphold state regulations. It also protects prepaid tuition funds if a school closes unexpectedly.
The Massachusetts Office of the State Treasurer (OST) requires this type of license and permit bond for state licensing.
How Much Do Real Estate School Bonds Cost in Massachusetts?
Massachusetts real estate school bond premiums vary based on credit score. Most applicants typically pay just $200 for the required $20,000 coverage.
Apply below for your free personalized quote.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Massachusetts Real Estate Brokers and Salespersons School Bond Work?
A Massachusetts real estate brokers and salespersons school bond is a legal contract between three parties:
- Principal: The real estate school purchasing the bond
- Obligee: The Massachusetts Office of the State Treasurer requiring the bond
- Surety: The provider issuing the bond
Under this contract, you, as the principal, promise to uphold the provisions of 254 CMR 4.00.
If you break the bond terms, harmed parties can file claims. The surety will validate and pay claims up to the full bond amount. However, you are ultimately responsible for refunding the surety.
Who Needs a Real Estate School Bond?
All Massachusetts schools offering any of the following education courses must file a $20,000 surety bond for licensing:
- Broker and salesperson pre-license education
- Real estate instructor education
- Real estate broker and salesperson continuing education
How Do I Get a Real Estate School Bond in Massachusetts?
SuretyBonds.com provides the fastest and easiest way to get a real estate school bond. Just follow these simple steps:
- Apply Online: Enter your information to receive a free quote
- Pay Invoice: Complete your purchase online or over the phone
- Receive Bond: Select your FedEx shipping option to receive your official bond form
Upon receipt, sign and file the bond documentation with the OST.
How Fast Can I Get My Bond?
If you’re in a rush, SuretyBonds.com offers overnight FedEx delivery. Purchase now to receive your original bond form the next day.
Can I Get Bonded With Bad Credit?
Yes, you may still be able to get bonded with bad credit. However, poor credit may increase your premium rate.
Apply for a free quote or visit our Surety Bond Cost FAQ page to see how credit may impact your cost.
How Do I Renew My Real Estate School Bond?
Massachusetts real estate school bonds expire annually. When you work with SuretyBonds.com, we’ll send you reminders and a renewal invoice before your bond expires.
To renew, just pay the premium — we’ll do the rest!
How to Open a Real Estate School in Massachusetts
The Massachusetts Board of Registration of Real Estate Brokers and Salespersons licenses all schools offering courses for real estate professionals.
To apply, submit the following materials via the eLIPSE portal:
- Criminal Offender Record Information (CORI) Form
- Surety bond form
- Copy of your Doing Business As (DBA) certificate registered with the city
- Copy of occupancy permit
- Copy of Instructor’s Approval Letter
- Attestation Form (if offering online courses)
- Payment for the $326 application fee plus $147 per branch location
Once approved, your license number will be visible on your online account. The Board will also mail you a physical license card.
