Are you interested in learning how to move properties in Minnesota as a real estate professional? As a property expert in the North Star State, you’ll be in a position to help individuals and business owners relocate to the state, upgrade to new properties within the state and find their dream spaces! First, you have to complete the licensing process. Take a look at the steps to becoming a licensed real estate agent in Minnesota.
Minnesota Real Estate License Basics
First, you must be 18 years of age or older to pursue a Minnesota Real Estate license. It’s also helpful to know that all licensing for agents in Minnesota is overseen by the Minnesota Department of Commerce. The general costs associated with obtaining your license include a $65 fee for your licensing examination and a general $130 licensing fee. Once you make the decision to pursue a career as an agent in Minnesota, you’ll need to closely follow the five steps required of all aspiring real estate agents before they can begin the exciting process of listing properties. Take a look!
Step 1: Complete the Required Training Courses
Before you can become a real estate agent, you must complete 90 hours in approved courses in pre-licensing education broken down into three 30-hour courses. However, there is a little bit of nuance to this step. You don’t need to complete all 90 hours before you can sit for your real estate license exam. However, you must complete Course I prior to sitting for your exam. You have the option to complete Course II and Course III before or after you take the test. The caveat is that you must complete all three of the 30-hour courses required for real estate licensing in Minnesota before you can apply for your real estate license.
Step 2: Take and Pass the Minnesota Real Estate License Exam
As mentioned in the first step, you’ll need to pass the Minnesota licensing exam before you can move forward with your application for licensing. The only prerequisite is that you must complete Course I prior to registering to sit for this test. The Minnesota Department of Commerce requires that all future real estate agents pursue course completion through one of the approved Minnesota real estate training providers on its Minnesota real estate school list. To discover a list of approved Minnesota real estate schools, you can use the PULSE Portal.
What to Expect on Test Day
Minnesota real estate licensing exams are administered by Pearson VUE through a proctor. During your four-hour exam session, you’ll be completing a test consisting of 130 questions split into two portions covering state-specific (1.5 hours) and general real estate (2.5 hours) questions. It is generally recommended that anyone planning to sit for the Minnesota real estate licensing test should complete a prep course. A score of 75 percent is required to pass this exam. You’ll need to show up with one of the following to take your exam on your scheduled testing day:
- A valid course completion certificate for the Minnesota-approved Course I.
- A valid course completion certificate for the 13-hour Wisconsin-to-Minnesota salesperson pre-license course.
- A copy of your expired Minnesota resident real estate salesperson license.
- A letter of certification from your resident state that’s not older than 90 days.
On exam day, you’ll also need to provide two present and valid forms of identification. One form of identification must contain both your photograph and signature (driver’s license, learner’s permit, passport, military ID, alien registration card or similar). The other must contain at least a signature (Social Security card, debit card or similar).
Step 3: Connect With a Sponsoring Broker
If you want to become a real estate agent in Minnesota, you need to be associated with an existing broker. For this requirement, you’ll need to secure the sponsorship of an active licensed broker in Minnesota. It’s important to do your research to find a firm that you feel will support your goals and provide a dynamic environment once you’re licensed to work as a professional agent!
Step 4: Complete Any Outstanding Courses
You’re not finished just because you’ve passed your exam! If you’ve made the decision to sit for your licensing exam prior to completing Course II and Course III, it will be time to catch up by getting those courses done before you can submit your application for your Minnesota real estate license. Your application will be rejected if you have outstanding courses.
Step 5: Complete and Submit Your Application for Your Real Estate License
Once you get word that you’ve passed your exam, it’s time to move forward with submitting your application to officially become a Minnesota real estate agent! It’s important to follow the guidelines that are in place for submission closely. Here’s a look:
- First, you’ll need to have your sponsoring broker submit your application for a real estate license on your behalf. You’ll also need to submit payment to cover the state’s $130 licensing fee. Your broker must submit your application for licensure within one year of the date that you pass your exam to avoid nullification. If the application is submitted after that date, you’ll be required to take the examination again and restart the application process.
- Next, the application will go through an approval process by the Minnesota Department of Commerce.
- Lastly, the Minnesota Department of Commerce will send you a license following approval.
If your application is denied for one reason or another, you will typically have a chance to correct the issue that prevented your license from being granted. If your application is approved, you’ll need to adhere to all of the requirements covered in your courses for remaining in good standing as a licensed agent. This means following the legal, ethical and business principles of your industry.
Final Thoughts: Becoming a Minnesota Real Estate Agent Through a Combination of Passion and Planning
Minnesota’s process for real estate licensure is fairly straightforward. However, it does take a considerable amount of motivation and momentum to get everything in order. Signing up for training classes and getting aligned with a broker who can sponsor your journey are the two most important steps for getting your future career goals off the ground. Fortunately, there are plenty of training and support resources available to ensure that you can show up for your state licensing exam feeling confident and prepared!
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Real Estate Math
Real estate math plays an important role in every real estate transactions. You divide, subtract, multiply, and add every time you write a contract or complete comparative market analysis. When you’re a real estate agent, there’s no way to avoid math. And every state’s real estate license exam includes a math section!