Module 3 Prelicensing for Real Estate Brokers in Maryland (SELF-PACED)

Module 3: Commercial & Investing – Maryland Real Estate Broker Prelicensing | Self-Paced Online

Master Commercial Real Estate. Understand Investments. Complete Your Broker Education.

45-Hour Maryland Broker Prelicensing Course | Module 3 of 3 | Self-Paced Online | MREC & MHEC Approved |

You've mastered the fundamentals and learned how to run a brokerage—now it's time to expand into commercial real estate and investment transactions. Module 3: Commercial & Investing breaks down the specialized knowledge required by real estate brokers who conduct investment transactions, including commercial real estate, property analysis, and investment strategies.

This final module of the 135-hour Maryland Broker Prelicensing Program prepares you to confidently handle commercial transactions, advise investor clients, and understand the financial analysis behind real estate investments. Whether you plan to specialize in commercial real estate or simply want to offer comprehensive services to your clients, this course provides the expertise to set you apart.

In this 45-hour module, you'll gain critical insights into:

• Commercial real estate fundamentals and property types
• Investment property analysis and financial metrics
• Income property valuation methods
• Commercial leases and tenant representation
• 1031 exchanges and tax-deferred investment strategies
• Real estate syndications and investment structures
• Commercial financing options and underwriting
• Due diligence for commercial transactions

Key Topics Include:

• Introduction to commercial real estate: office, retail, industrial, multifamily, and special purpose
• Commercial vs. residential transactions: key differences and considerations
• Understanding the commercial real estate market and market analysis
• Investment property analysis: cash flow, ROI, and risk assessment
• Income approach to value: Net Operating Income (NOI) and capitalization rates
• Cash-on-cash return, internal rate of return (IRR), and debt service coverage ratio (DSCR)
• Pro forma analysis and investment projections
• Commercial property valuation: income, sales comparison, and cost approaches
• Commercial lease types: gross, net, NNN, percentage, and ground leases
• Lease negotiation and tenant/landlord representation
• Commercial agency relationships and disclosures
• 1031 tax-deferred exchanges: rules, timelines, and qualified intermediaries
• Real estate syndications: structure, securities considerations, and investor relations
• Joint ventures and partnership structures in real estate
• Commercial financing: conventional, SBA, CMBS, and portfolio loans
• Underwriting commercial loans and working with commercial lenders
• Due diligence for commercial properties: environmental, zoning, and physical inspections
• Commercial purchase agreements and Letters of Intent (LOI)
• Property management for investment and commercial properties
• Risk management in commercial and investment real estate
• Ethics in commercial real estate practice

Complete Your Broker Education → Click 'Get Course' to Get Started!

Course Format: Self-Paced, Online & Convenient

• 100% online – study from anywhere with an internet connection
• Complete on your schedule – no set class times, no Zoom sessions
• Knowledge checks and quizzes throughout to reinforce key concepts
• Module final exam required to complete (75% passing grade)
• Instant access – start immediately after enrollment
• Approved by the Maryland Real Estate Commission (MREC) and Maryland Higher Education Commission (MHEC)

Course Requirements & Policies

To receive credit for this module, you must:

• ✓ Complete all coursework and knowledge checks
• ✓ Pass the Module 3 final examination with a score of 75% or higher

Broker License Eligibility Requirements (per Maryland Business Occupations & Professions Code §17-305):

• Must be at least 18 years of age
• Must be of good character and reputation
• Must have a high school diploma or GED
• Must have been a licensed real estate salesperson and have actively and lawfully provided real estate brokerage services for at least 3 consecutive years immediately prior to applying for the broker exam
• No breaks in licensure during this 3-year period (inactive status, late renewal reinstatements, or suspensions disqualify the consecutive period)
• Must complete the 135-hour MREC-approved Broker Prelicensing Course (includes 3 clock hours in real estate ethics)
• Must pass the Maryland Real Estate Broker State Licensing Exam administered by PSI

Note: If you are qualified to practice law in Maryland, the educational and experience requirements may be waived by the Commission.

Important Program Deadlines:

• ⚠️ All three modules (135 hours) must be completed within 1 year of enrollment in Module 1. If you do not complete all three modules within one year, you will need to start the entire program over.
• ⚠️ Once you complete all three modules and graduate, you have 1 year from your graduation date to pass the PSI State Licensing Exam.

Refund Policy:

• No refunds once course access has been initiated
• Technical issues? Contact us at [email protected] for assistance

Program Costs – Module 3

Module 1 ($510) includes one-time registration fee and course materials. Module 2 is $430. Total program cost for all three modules: $1,370.

Who Should Take This Course?

• Students who have completed Modules 1 and 2 of the Maryland Broker Prelicensing Program
• Licensed Maryland salespersons preparing to complete their broker education and take the state exam
• Future brokers who want to expand into commercial real estate and investment transactions
• Real estate professionals seeking to advise investor clients with confidence
• Anyone committed to mastering commercial and investment real estate at the broker level

The 135-Hour Maryland Broker Prelicensing Program

This is Module 3 of 3 in the complete broker prelicensing program:

Each module has its own final exam. Upon successful completion of all three module exams, you will receive your certificate of completion and can apply for the PSI State Licensing Exam.

🎓 After You've Completed the Entire 135-hour Program! Next Steps:

1. Receive your final, Module 3 Certificate of Completion – Available in your account under 'My Certificates' (must be printed in color)*
   *You must upload your ID to your profile for verification by our team prior to downloading your certificate.
2. Order your Certificate of Licensure from MREC/DLLR – Order Here (current cost $25, takes approximately one week)
3. Complete the PSI Application – View Application & Instructions
4. Wait for PSI approval – Allow up to 2 weeks for processing; you'll receive an email with instructions to pay and schedule your exam
5. Pass your State Exam within 1 year of your graduation date

After Passing the Exam: Once you have passed the broker exam, contact the Maryland Real Estate Commission at [email protected] for instructions on how to apply for your broker license.

This self-paced online broker prelicensing course is approved by the Maryland Real Estate Commission (MREC) and Maryland Higher Education Commission (MHEC). Tristar Academy is an approved real estate education provider in Maryland.