How To Earn A Minnesota Real Estate License
How To Earn A Minnesota Real Estate License
When it is time to earn your real estate license, the first step is making sure you are prepared. Luckily, TrainingCenter has both the required Minnesota pre-licensing courses and training programs for how to list, sell, handle real estate objections, and more.
Essentially, you'll start by taking your state-specific pre-licensing course, then passing your exam. Tips for both, as well as recommended courses, appear below.
What Does A Minnesota Real Estate Agent Do?Real Estate Agents in Minnesota help clients to purchase, rent, or sell property. This includes finding buyers and sellers, providing advice and helping to negotiate on price, and referring home inspectors or mortgage professionals - all within federal and state rules and regulations. Further, they are required to represent the best interests of their clients, whether they be buyers or sellers.
Additionally, depending upon whether representing the buyer or the seller, agents can recommend an appropriate selling price, market the property, negotiate offers, attending and/or reviewing the home inspection and appraisal, provide feedback on comparable sales.
The Benefits Of Having A Minnesota Real Estate LicenseThere are many benefits to having a real estate license. While helping to serve your community find their "dream house", you also benefit from flexible hours and the opportunity to have high earnings via your commissions. For those who invest in real estate, having a license gives you early access to properties as they become available.
About Our Minnesota Real Estate Licensing Courses And Exam Prep Materials
We offer Minnesota real estate license training courses that fulfill Minnesota's pre-license education requirements. Our Minnesota training and exam prep materials are delivered in an easy-to-understand manner that provides important insights and valuable exam tips and strategies covering Minnesota's rules and regulations for Minnesota real estate licensing. You receive:
- Both Print And Online Course Materials
- Sample Exams
- Exam Prep Materials
- Instructor Support
When you have completed the training materials, make sure to take as many practice exams as possible. This will help you to pinpoint and overcome problem areas, and ensure that you pass your Minnesota real estate licensing exam on the first try!
Recommended Minnesota Real Estate Licensing Courses And Exam Prep Materials
You'll find the real estate licensing courses you need here at TrainingCenter. We offer state-approved courses that can meet the Minnesota pre-licensing requirement.
To find the right state-approved course for you, simply select "Licensing" and your state from the search box below. Good luck earning your Minnesota Real Estate License!
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About The Minnesota Real Estate License Requirements
To help with how to get a real estate license in Minnesota, we have provided below information on Minnesota licensing requirements, its insurance department, and examination scheduling facilities, as well as info on what is on the exam and tips for passing it.
Topics on the Minnesota Real Estate License ExamThe Minnesota real estate licensing exam is composed primarily or multiple choice questions covering both national and state-specific information. Exam topics include real estate law, ownership, land use controls and regulations, disclosures, valuation, financing, titling, taxes, and contracts.
Minnesota Department of CommerceAddress: Main Office, Golden Rule Building
85 7th Place East, Suite 280, Saint Paul, Minnesota 55101
Phone: 651-539-1500
Website: https://mn.gov/commerce/Examination SchedulingProvider: PSI Exams
Website: https://candidate.psiexams.com/Minnesota Real Estate License Requirements
The following lists any applicable pre-licensing, continuing education, renewal, and reciprocity requirements for Minnesota real estate licensing.
Real Estate License Requirements:- Minnesota real estate salesperson license: 90 hours (Applicants need to complete three courses, each of which consists of 30 hours of instruction)
- Minnesota real estate broker license: 30 hours (At least three years of licensed real estate salesperson experience in Minnesota or another state with comparable requirements within the five years prior to the date of application for the broker's examination)
State Reciprocity: Minnesota has reciprocal relationships with Colorado, Iowa, Nebraska, North Dakota, Oklahoma, South Dakota, and Wisconsin.
Those with active licenses in one of these reciprocal states must:
- Complete the 30 hour broker course
- Have at least three years of licensed real estate salesperson experience within the past 5 years (If this experience was obtained in a capacity not requiring a Minnesota real estate license, you must first submit a request for a waiver of salesperson experience)
- Email a letter of certification (no more than 90 days old) documenting that you are currently licensed as a broker and reside in Colorado, Iowa, Nebraska, North Dakota, Oklahoma, South Dakota or Wisconsin (Applicants with an active Wisconsin license must also email course completion certificates documenting completion of a Minnesota broker course of at least 13 hours and must email original passing results for the Minnesota State Laws portion of the written examination)
Continuing Education And/Or License Renewal Requirements:- Minnesota real estate professionals must renew their licenses every two years by June 30
- Minnesota licensees must take 15 hours of real estate CE every year by June 30
How To Earn A Minnesota Real Estate License
Below are the recommended steps for passing your real estate agent exam and earning your Minnesota real estate license.
- Step 1: Review Minnesota's State Licensing Requirements
Since real estate licensing is state-specific, you want to make sure you qualify or meet the basic requirements for the state in which you want to be licensed. In most states, you have to be at least 18 years old, pass a background check, and pass your state's exam. Click your state from the table above to find your state's requirements - and suggested licensing courses. - Step 2: Register For The Minnesota Real Estate Licensing Course
Our real estate training courses are designed to meet the state pre-licensing requirements, as well as prepare you for your state exam. Once you are done, you will be ready to take your state's real estate licensing exam. Click you state from the table above for information on where and how to register for your exam.
Note: Once you complete your course, be sure to obtain your official transcripts or certificate of completion from the school, which is required for your real estate license application. - Step 3: Study For Your Exam!
While exams often require you to know terms, definitions, and rules, real estate licensing exams are often more than just memorization, so make sure you understand the concepts and take as many of the practice exams that come with your real estate pre-licensing course materials as possible. - Step 4: Pass Your Real Estate Licensing Exam
- Step 5: Submit An Application To Get Your Minnesota Real Estate License
Once you pass your exam, the next step is to apply for your real estate license. This usually includes completing an application and paying a licensing fee. - Step 6: Determine Where You Want To Work
New agents can work either individually, with a broker, or with a team. Those who want to work individually should make sure they have a good business plan and ample funding to carry them until their sales start rolling in. Separately, working with a broker could reduce up front costs while also providing a mentor relationship. Whichever option you decide is best for you, be sure to get trained! - Step 7: Get Training For Doing Listing Presentations, Handling Objections, And More!
While your real estate exam typically includes terms, definitions, and laws, it does not teach you how to sell real estate. For that, you'll need training on how to handle listing, FSBO, and expireds presentations, overcome objections, and more. Luckily, Training Center has lots of real estate training courses to help you succeed. Simply click one of the recommended courses below or select a topic from the search box below.
Good luck earning your real estate license!
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Disclaimer: This information provided is based on state laws and regulations, and is subject to change. While we make every effort to asure this information is current and accurate, it is not engaged in rendering legal or professional advice, and shall not be held responsible for inaccuracies contained herein.
