In this guide you’ll learn all the details you need to know to get your license and become a real estate agent in Minnesota.
You’ll learn the basic real estate licensing requirements in Minnesota, information about the exam including pass rates and test prep, reciprocity rules, county by county breakdowns of the most expensive real estate in Minnesota, and more.
Okay, grab a cup of coffee, and let’s start at the beginning.
Basic Minnesota Real Estate Licensing Requirements
Getting a real estate license in Minnesota is rather easy compared to other states. You only need a total of 90 classroom hours of commission-approved pre-licensing courses. In comparison, to get a license in Texas, real estate licenses require applicants to complete 180 hours of courses. Here’s a quick breakdown of the real estate licensing requirements in Minnesota:
Pre-licensing Courses Required in Minnesota
In order to get a real estate license in Minnesota, you will need to complete 90 hours of real estate pre-licensing courses that will cover:
- The Real Estate Business
- License Law and Qualifications for Licensure
- License Law and Commission Rules
- Authorized Relationships, Duties, and Disclosure
- Real Estate Brokerage Activities and Procedures
- Violations of License Law, Penalties, and Procedures
- Federal and State Laws Pertaining to Real Estate
- Property Rights: Estates and Tenancies, Condominiums, Cooperatives, and Time Sharing
- Title, Deeds, and Ownership Restrictions
- Legal Descriptions
- Real Estate Contracts
- Residential Mortgages
- Types of Mortgages and Sources of Financing
- Computations and Closing of Transactions
- The Real Estate Market and Analysis
- Real Estate Appraisal
- Real Estate Investments and Business Opportunity Brokerage
- Taxes Affecting Real Estate
- Planning, Zoning, and Environmental Hazard
Minnesota Real Estate Exam Information
If you work hard and take the courses seriously you should have no problem passing the exam. If you’re looking for help studying for the test, we recommend Real Estate Exam Scholar’s Exam prep course. They offer top-notch exam prep for an affordable price. Even better, they also offer a money back guarantee if you don’t pass on the first try.
Minnesota Pre-Licensing Exam Questions
- Total of 120 multiple-choice questions (to be completed within 4 hours)
- 80 questions on the national portion (60 correct needed to pass)
- 40 questions on the state portion (30 correct needed to pass)
What to Bring to the Exam
- 2 valid forms of identification with signatures. One ID must be a government-issued Photo ID
- Confirmation number when the test reservation was made.
You must earn a score of 75 to pass the Minnesota Real Estate Salesperson Exam
Minnesota Real Estate License Fee
Exam Fee in Minnesota
You need to have at least a high school diploma or GED in order to apply for a license in Minnesota.
Applicants must be at least 18 of age or older
Any U.S. citizen or a lawfully admitted alien can apply.
Any active member of the Minnesota Bar who is in good standing and qualified under the real estate license law is exempt from taking the real estate sales associate prerequisite course.
Applicants who have an existing criminal record may still apply for a real estate license. It would be best if applicants were to include their criminal history along with the necessary documents related to the conviction, if any, on their application. After submitting your fingerprints, your application will be forwarded to the Division of Criminal Justice Information Systems and to the Federal Bureau of Investigation. Upon investigation, each applicant will be considered on their own merits.
Online Real Estate Schools in Minnesota
While taking your real estate pre-licensing course in person can be helpful, online courses are much cheaper and offer the exact same courses. Mbition – Learn Real Estate is a solid choice.
Minnesota Real Estate License Reciprocity and Portability
If you plan on working in states besides Minnesota, then you need to know the real estate license reciprocity and portability laws for Minnesota.
- Reciprocity: Minnesota has mutual recognition agreements with 7 states:
- North Dakota
- South Dakota
- Portability: Physical Location
To learn more about real estate license portability in Minnesota, check out our guide on real estate license reciprocity and portability here.
How to Choose the Right Real Estate Company to Work For in Minnesota
Let’s face it. Choosing the right brokerage to work for in any state isn’t easy. In order to make your choice a little bit easier, check out our in-depth guide on choosing the right real estate company to work for.
If you’re curious about which Minnesota brokerages are the most successful, check out Real Trends list of the top real estate brokerages in Minnesota for 2017 below.
*Data from Real Trends Market Leaders 2017
Minnesota Counties with Highest Average Listing Price and Highest Median Sales Price 2017
Let’s face it, higher listing prices mean higher commission checks! To get a sense of which counties offer the best opportunities for big bucks in Minnesota check out this sales data from Trulia’s Minnesota home price page below (week ending June 21):