Real Estate Agent News Alerts
Stay up to date on breaking news with our free News
Alert Service.
Become A Real Estate Agent In Minnesota
Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of Minnesota or anyone looking to become a real estate agent or realtor in Minnesota. Contents of this article may include information on real estate education, schools, training courses, continuing education, tests and exams, laws, license requirements, renewal information, forms and more.
The Minnesota
Department of Commerce regulates the real estate industry in the state and
is the licensing authority over approximately 25,000 real estate professionals.
The office is in St. Paul.
The requirements for a real estate salesperson license
in Minnesota include completing 3 prelicensing courses. Of these, Course
1 needs to be successfully passed before taking the real estate exams, and Course
2 and Course 3 may be taken either before or after passing the exams.
Applicants need to successfully pass both parts of the examinations and apply
for their license within one year from passing. If more than one year before applying
for the exam, the applicant must re-take Course 1 and then take the examinations
again. All applicants for the salesperson license need to be associated with a
licensed Minnesota real estate broker in order to maintain an active license.
The application fee for the license is $100. You can locate the salesperson application
form online.
Once licensed, the salesperson must successfully complete 30 hours of specific
real estate continuing education courses during the initial license period
and during each succeeding 24-month license period.
The requirements for a real estate broker license
in Minnesota include successfully completing the broker education course and having
at least two years of real estate salesperson experience during the five previous
years, either in Minnesota or another state with comparable requirements. A waiver
of this experience can be obtained under some circumstances. The waiver form needs
to be submitted before taking the broker educational course and broker examination.
Brokers are required to maintain an interest-bearing trust account. A waiver form,
if applicable, needs to be attached to the application for the license.
The broker license fee of $180 needs to accompany the license
application, and the application needs to be filed within one year of successfully
passing the broker examinations.
Broker licenses are issued for a two-year term and expire on June 30th. Once licensed,
the salesperson must successfully complete 30 hours of specific real estate continuing
education courses either as a student or as a lecturer, during the initial license
period and during each succeeding 24-month license period.
The approved Real Estate Schools for Prelicensure and courses are available online.
The real estate examinations are conducted electronically by Thomson
Prometric and you may register online for your exams.
Minnesota has reciprocity agreements with seven other states. Minnesota does require applicants from
some of these states to take additional education courses or examinations. All applicants, regardless of
their home state, need to pay the regular Minnesota license fees.
Real estate careers are strengthened by membership in the many organizations
that provide services for the professional agent. Those holding a real estate
license usually join organizations like the Minnesota
Association of Realtors, and the National Association of Real Estate Brokers
(NAREB). The National Association
of Realtors (NAR), the world’s
largest professional association, assists many in locating real estate jobs
within the industry. These organizations are also excellent resources of real
estate education and inspiration.
This portion of our website has been created for information purposes
only. It is our belief that all information presented here is accurate
as of today, however each state is constantly striving to protect
the public and provide more quality service to those using the services
of a Real Estate Agent. Change in Real Estate laws and regulations
is inevitable. The information presented here should be considered
a starting point and we encourage everyone to fully research any
information you are seeking.
To further assist you, we have included links to each state's
real estate licensing office, and also to the state's local Association
of Realtors site that provides current information on proposed real
estate license regulations in that area.
If you do find an error or have updated information, please contact
us and we will update our information accordingly.
