To qualify for a real estate broker license, an applicant shall be an individual who meets the requirements of this section. An applicant shall be of good character and reputation. An applicant shall be at least 18 years old. Except as provided in paragraph (2) of this subsection, an applicant shall: have completed successfully a course in real estate approved by the Commission for real estate brokers that includes a 3 clock hour course in real estate ethics approved by the Commission; and have been a licensed real estate salesperson and have actively and lawfully provided real estate brokerage services for at least 3 years. If an applicant is qualified to practice law in the State, the Commission shall waive the educational and experience requirements of paragraph (1) of this subsection for that applicant. An applicant shall pass an examination given by the Commission under § 17-306 of this subtitle. An applicant shall meet any other requirement that the Commission establishes to ensure that only individuals who are professionally competent and of good character and reputation are licensed.