Real Estate Broker Bond

About Real Estate Broker Bond

This bond guarantees to the public that the principal (real estate agent) understands and agrees to follow all Massachusetts laws and regulations defined under their real estate license over the course of business. Due to the fact that real estate agents handle high-value assets and monetary transactions for their clients, this bond is an important measure of trust and safety. In addition to proper handling of money and assets, this bond asserts that the agent will protect their client against fraud throughout the real estate transaction process.


Details About This Bond

A Real Estate Broker Bond is required in all 50 states before you are able to apply for a real estate broker license. This is an Instant Issue bond, meaning that once you submit your application and payment to MassBond.com, we can file your bond immediately. There is no credit check and no underwriting.

A Real Estate Broker surety bond guarantees to the public that the principal (real estate agent or agency) fully understands and agrees to follow all laws and regulations over the course of business. Real estate brokers handle money and property for clients, and this bond is an essential component of creating trust between broker and property owner. A bonded agent is legally bound by this bond to responsibly manage all funds and properties throughout the sales process.

Failure to adhere to the provisions laid out by the state, as well as the terms of your surety bond, can result in your surety revoking your bond. In addition, you may be liable for a claim against your bond, repayment to the damaged parties, fines and penalties, and/or loss of your Real Estate License. Avoid claims against your bonds, as these are marks against you and in addition to the aforementioned issues, will lead to problems during future surety bond applications.

MassBond issues Real Estate Broker Bonds for Massachusetts instantly - meaning there is no credit check required for approval. Upon submission of your application and payment, we will issue it instantly. There are multiple delivery options available for your bond.

General Questions
Why do I need a Real Estate Broker Bond?
Why do I need a Real Estate Broker Bond?

Above all, an individual applying for a real estate broker license is required by the state of Massachusetts to get a real estate broker bond first. In addition, this bond acts as a signal to clients that you are trustworthy, with a promise and obligation to the state and individual that you will adhere to all Massachusetts real estate standards, statutes, and regulations.

This surety bond is an important tool for real estate brokers and salespersons, because it creates a second level of trust between the broker and client. Given that real estate brokers are trusted to manage large amounts of money in escrow, mitigating risks and avoiding fraud, this bond adds security to the professional relationship.

How do I know if I need a Real Estate Broker Bond?What should I do in the event of a claim against my Real Estate Broker Bond?What if I have a false claim against my bond?How can I avoid claims filed against my Real Estate Broker Bond?
Application Questions Questions
Real Estate Broker Bond: Application and Renewal
Real Estate Broker Bond: Application and Renewal

Application:

  • Applying for a Massachusetts Real Estate Broker bond is simple through MassBond.com.
  • The obligee (Massachusetts) will not accept your bond until you have a new broker professional identification number. To learn more about applying for your real estate license, check here.

Renewal:

  • To renew your Massachusetts Real Estate Broker license, simply complete the online form at mass.gov
Is it difficult to get a Real Estate Broker Bond in Massachusetts?What information do I need to provide in my application for a Massachusetts Real Estate Broker bond?
Financial Questions Questions
How much does a Real Estate Broker Bond cost?
How much does a Real Estate Broker Bond cost?

The bond amount for a Massachusetts Real Estate Broker Bond is $5,000 for a six year term. You are required to pay a premium for this bond. The premium for a Massachusetts Real Estate Broker Bond is $50 for the six year term.

How is my bond premium calculated?Can I get a Real Estate Broker bond with bad credit?How do I get the best rate for a Real Estate Broker bond in Massachusetts?