A Real Estate Broker Bond is required in many 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, 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.
Real Estate Broker Bonds for Massachusetts are issued 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.