Being a real estate agent can be a rewarding and lucrative career. Starting as a salesperson, you can move up to being a broker through training and certification. Because all states have different requirements, it is important to be aware of the regulations in your state. Minnesota is among several that has rigorous training and certification procedures. Although Minnesota’s requirements for licensing require attending classes, taking an exam and applying for a license, the procedure for a salesperson can be completed in less than a year. Obtaining a broker’s license is then possible in an additional two years.
Real Estate Sales License
Complete as least 1 of 3 real estate courses available from various private schools such as Kaplan’s or at a Minnesota community college or trade school. Online courses are available as well. Parts 2 and 3 may be taken after passing the licensing exam. All exams are taken through Pearson VUE at 866-274-4756. Request the Minnesota exam. You must pass both exam sections to apply for a license. Fax the results of the written portion to 651-284-4107.
After you have passed the exams, apply for the license through the Minnesota Department of Commerce and pay the $140. fee. The license is good for two years.
It’s advisable to become a member of a Minnesota professional organization like the Minnesota Association of Realtors.
Real Estate Brokers License
To apply for a real estate broker’s license you have been actively involved in real estate sales for 2 out of the last 5 years either in Minnesota or another state. Minnesota has a reciprocal agreement with Colorado, Iowa, Nebraska, North Dakota, Oklahoma, South Dakota, Wisconsin.
Maintain an interest-bearing trust account in a Minnesota bank or include a waiver with the application.
Submit the application on the Pulse Portal website and submit the $220 fee.
After licensing, complete a 30 hour continuing education course within 2 years. The courses can be taken online or at a Minnesota community college or private chain college.