Minnesota Real Estate Requirements
Article Summary: Contained within this article is a general guideline of the real estate requirements for an individual to obtain a Salesperson or Broker license in the state of Minnesota. Further insight is included such as pre-licensing education, examination, renewal, fees and more..
The Minnesota Department of Commerce located in St. Paul, Minnesota is the governing agency responsible for the regulation and licensing within the real estate industry in MN. This agency was started in 1983 from the Commerce Commission which was a group of three separate commissions on insurance, banks, and real estate.
The first prequalification for a real estate license in MN includes being at least 18 years of age. Each person is required to successfully complete an approved 90 hour of pre-licensing course with 3 parts at 30 hours each. Only Course 1 must be completed before taking the salesperson exam. The second two courses still need to be complete before applying for a license.
The course final exam has a minimum passing score of 70% and is taken in the presence of a proctor. For the state of MN, Pearson VUE is responsible for administering the real estate licensing exam. More information can be found on Pearson’s website. An individual must first have a sponsoring broker in order to become a licensed real estate salesperson in Minnesota.
The current costs for the licensing examination is $65 and the licensing fee is $110. The licensing application must be submitted within one year of passing the exam.
Continuing education requirements should be completed before June 30th of each year. There are 15-hour CE requirements for each year and 30 hours total for each 2-year renewal period.
In order to obtain a broker real estate license in Minnesota, a person must be 18 years of age and have at least 3 years of salesperson experience within the 5 years before an application. In addition, a licensee is required to successfully complete the Broker 30-hour course. The final course exam is required to be passed with a proctor before moving on to pass the state’s broker license exam. Pearson VUE provides more information about testing centers and schedule here.