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In order to get your Minnesota real estate license, you’ll need to take a number of courses and pass multiple exams. These can be challenging, but with the right preparation it doesn’t have to be impossible!
The “minnesota real estate license cost” is the process of becoming licensed in Minnesota. There are several steps to be completed before you can get your license. The first step is completing an application and passing a written exam, which will cost you $200. After that, you will need to complete 8 hours of pre-licensing education and pass a skills test.
In comparison to many other states, obtaining a Minnesota real estate license is rather simple. You must complete 90 hours of Minnesota Commerce Department (MCD) approved prelicensing coursework, pass the licensing test, locate a sponsoring brokerage, and have your broker submit your application. We’re ready to walk you through the steps of how to become a real estate agent in Minnesota, step by step.
1. Comply with Minnesota’s Legal Requirements for Obtaining a Real Estate License
You must first complete the state’s legal criteria before proceeding with the processes to get a real estate license in Minnesota. You must be at least 18 years old and a legal permanent resident of the United States to enter Minnesota.
What if I told you that
Because Minnesota has reciprocal agreements with a number of other states, agents who are already licensed in other places are exempt from taking MCD’s prelicensing courses. Agents from Colorado, Iowa, Nebraska, North Dakota, Oklahoma, and South Dakota must apply for licensing via the PULSE Portal, provide a letter validating their existing license, and pass the state section of the test. If you’re from Wisconsin, you’ll need to take a 13-hour Wisconsin-to-Minnesota prelicensing course in addition to the state test.
In terms of mobility, Minnesota is also a physical location state. Realtors from other states are permitted to do business in Minnesota, but they are not permitted to physically enter the state. Out-of-state agents are not permitted to enter the state for any purpose, including showings, closings, or any other reason. Check out our guide to real estate license reciprocity and portability for more information about Minnesota real estate license portability.
You may still be eligible to work as a real estate agent in Minnesota if you have a criminal record. You’ll have to provide official records to prove the severity of the violation and how it was remedied.
A written statement describing the facts of each occurrence, a copy of the charging paperwork, and a copy of official records indicating resolution are included in these documents. The MCD will examine your paperwork to determine if you are eligible for a license. Read page 45 of the Minnesota Real Estate License Guide for further information.
2. Complete the pre-licensing courses that are required.
It’s time to get started on your prelicensing study if you match the legal criteria for obtaining a real estate license in Minnesota. Minnesota mandates 90 hours of coursework, divided into three 30-hour periods referred to as Course I, Course II, and Course III. Course I must be completed before taking the real estate licensing test, and Courses II and III must be completed before applying for your license.
Rather of splitting the hours, many agents attend an established real estate school and finish all 90 hours at once. These may be performed at a real estate school in person or online. The following subjects are covered at prices ranging from $279 to $679:
- Characteristics of real estate, legal designations, and use
- Ownership, transfer, and documentation of title in many forms
- Appraisal and property value
- Contracts and agency in real estate
- Practicing real estate
- Environmental concerns and property disclosures
- Settlement and financing
- Calculations in real estate math
- The legislation governing real estate brokerage licenses
- Contracts and information releases
- Real estate is a popular topic of discussion.
- Procedures for conveyance and party protection
- Obligations, rights, and remedies are all financial instruments.
Consider Kaplan for online real estate education in Minnesota to get started with the courses you need right now. Kaplan offers livestream, on-demand video, and hybrid courses, so you can customize your learning environment to meet your requirements and prepare for your real estate test. To figure out which learning style is ideal for you, have a look at Kaplan’s course demonstrations.
Pay a visit to Kaplan.
3. Obtain a Minnesota real estate license by passing the exam.
The national (generic) and state portions of the Minnesota real estate license test are conducted on the computer. In order to get your license, you’ll need to pass both sections of the test. After the test, you will be given a score report that will indicate whether you passed or failed.
You may proceed with the license application procedure if you pass the test. If you fail one or both portions of the test, you will get a score report with a diagnostic analysis of your strengths and shortcomings so that you may improve your preparation. Candidates must retake the failed component (or portions) of the test, but they must wait 24 hours before scheduling the next try.
Details about the Minnesota Real Estate Exam
Make Your Exam Appointment
You may schedule your real estate test after you’ve finished either the first 30 hours of prelicensing study or all 90 hours. Minnesota residents must register for the test online at Pearson VUE. During registration, you’ll need to establish an account and pay the $63 examination price. All test and licensing data may be found in the Minnesota real estate candidate handbook.
Working with an exam preparation company like PrepAgent might help you succeed if test-taking isn’t your strong suit. There are a variety of course packages available depending on how much time you need to prepare as well as resources to ensure you pass on your first try. PrepAgent is available for a week or a year, and you may utilize resources like flashcards, vocabulary, videos, audio, and more to ensure a passing score.
PrepAgent is a great place to start.
4. Choose a sponsoring agency to work with.
You must locate a sponsoring brokerage with whom to associate your Minnesota real estate license in order to keep it valid. Check out our in-depth post on how to pick a real estate business to work with to make your decision a little simpler. Although there are many successful brokerages in Minnesota, the top five brokerages reported for 2022 are shown here.
(Image courtesy of Real Trends 2022.)
Cities in Minnesota with the Highest Median Sales Price in 2022
The higher the price of a house sells for, the larger the commission you’ll be able to earn. Check out the sales statistics from Towncharts.com below to get a feel of which towns are bringing in the cash for Minnesota realtors:
5. Your broker submits an application for a Minnesota license.
You’ll be able to become a licensed real estate agent in Minnesota after you’ve completed your test. Unlike most other states, instead of completing your personal application, you must have your sponsoring brokerage submit your real estate licensing request via the MCD online PULSE Portal on your behalf. The application cost is $110, payable by credit or debit card.
A $30 technology surcharge and a $30 real estate education, research, and recovery fund are included in the cost. Within six months, a full application must be filed; partial applications will be deemed withdrawn and nonrefundable beyond that time period. Your broker will print out your official Minnesota real estate license after it has been accepted by the MCD, and you will be ready to begin a successful real estate career.
6. Begin your career in real estate in Minnesota.
It’s time to start your career as a real estate agent in Minnesota now that you’ve learnt how to do so. Here are some of our articles containing material that is ideal for new real estate agents for additional information and ideas to help jump-start your career:
The “minnesota real estate pre-license education” is a course that allows individuals to get their Minnesota real estate license. The course is offered by the state of Minnesota, and it can be taken online or in person.
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