North Dakota Business Broker License — Requirements & M&A Advisor Guide 2025
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North Dakota Business Broker & M&A Advisor License Requirements
Becoming a licensed business broker or M&A advisor in North Dakota requires meeting specific education, exam, and experience standards. This guide covers every requirement, fee, and regulatory pathway for North Dakota as of 2025–2026.
License Type Required in North Dakota Real estate broker license required. North Dakota business brokers operate under the Real Estate Broker License, regulated by the North Dakota Real Estate Commission (NDREC).
Education Requirements
Pre-license (salesperson): 45 hours of approved coursework
Broker upgrade: 45 hrs broker pre-license course
Experience Required 2 years as licensed salesperson/broker.
Exam & Licensing Fees
Exam: PSI national + North Dakota state exam
Application fee: $50
License fee: $75
Exam note: North Dakota has lower requirements than most states
Continuing Education 9 hours per year required to maintain active North Dakota broker license. Include mandatory ethics and law topics.
M&A Advisor Requirements in North Dakota North Dakota's economy is driven by oil & gas (Bakken Formation), agriculture, and energy. Business brokerage uses the real estate broker license. North Dakota Securities Department oversees securities. FINRA Series 79 applies for M&A advisors on energy sector deals involving equity.
Industry Certifications (Optional but Career-Critical)
CBI (Certified Business Intermediary) — International Business Brokers Association (IBBA)
M&AMI (M&A Master Intermediary) — IBBA, for deals $5M+
CMAP (Certified M&A Professional) — AM&AA
Series 79 (Investment Banking Representative) — FINRA, for larger M&A advisory
Series 82 (Private Securities Offerings Representative) — FINRA
How to Get Started as a Business Broker in North Dakota 1. Complete 45 hrs pre-license coursework 2. Pass the PSI national + North Dakota state exam 3. Obtain your North Dakota salesperson/associate license 4. Work under a licensed broker for 2 years as licensed salesperson/broker 5. Complete 45 hrs broker pre-license course and pass the broker exam 6. Pursue CBI certification via IBBA to establish market credibility