Licensing Requirements

Transcription

Licensing Requirements
Minnesota Real Estate
Licensing Requirements
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Minnesota Real Estate
Licensing Requirements
The information contained below is designed to provide a summary of the minimum education, experience, and examination
requirements established by the Minnesota Department of Commerce. The information provided below can be found on the
Department's website. However, we recommend you contact the Department of Commerce for more detailed information and for any
changes which may have occurred.
Salesperson Pre-License Requirements
The following must be submitted for a Salesperson license:
a)  Completed License application
b)  $120 Salesperson License fee + vendor processing fees if paying online
c)  Attach Course Completion Certificates for pre-licensing Course 1, Course 2 and Course 3. Applicant must have passed Course 1
prior to taking the salesperson examination. Course 2 and Course 3 may be completed before or after taking the examination.
d)  Attach original passing results for the 2-part written salesperson examination (National and Minnesota State Laws).
e)  The Salesperson applicant must be affiliated with a licensed Minnesota Broker (Corporate Broker, or Partnership Broker, or
Individual Proprietor Broker), and the Broker must sign the Salesperson application. The Salesperson must remain affiliated with
a licensed Minnesota Broker to maintain an active license.
Minnesota Real Estate
Licensing Requirements
Broker Pre-License Requirements
The following requirements must be submitted for an individual Minnesota Broker license:
a)  Completed Broker license application
b)  $200 $Broker License fee + processing fees from online vendor
c)  Applicant must have 2 years of licensed MN Salesperson experience within the 5 years prior to the date of application for a
Broker license in Minnesota or another state with comparable requirements.
d)  Applicants who wish to be considered for a waiver of the Salesperson experience requirement must submit a Sales Waiver
Request Form to the Commerce Department and receive approval prior to taking the Broker exam. If waiver is approved, attach
copy of Department approval letter with Broker application.
e)  Attach Course Completion Certificate for Minnesota Broker course no more than one year old at the time of application.
f)  Attach Course Completion Certificates documenting that the applicant has completed all Salesperson continuing education due
as of the date of the Broker application. The Broker course may be counted toward required Salesperson continuing education if
the Broker course was taken during the license period that the continuing education was due.
g)  Attach original passing results for the two-part written Broker examination (National and Minnesota State Laws).
Minnesota Real Estate
Licensing Requirements
Reciprocal License Requirements
Minnesota has reciprocity with the following states: Colorado, Iowa, Nebraska, North Dakota, Oklahoma, South Dakota, and
Wisconsin.
Continuing Education Requirements
The Primary Broker must certify through the on-line renewal process that the licensee has completed thirty (30) hours of continuing
education within the 2 years prior to each renewal, including at least 1 hour of fair housing law and 1 hour of agency law.
A minimum of 15 hours of the 30 credit hours must be completed during the first 12 months of the 24-month licensing period.
Required, as part of the total 30 hours and which can be completed anytime within the two-year renewal period, are 1 hour each of
Fair Housing and Agency Law.
Effective 7/1/11: A module training course will be required each education cycle for licensees as part of the 15 total hours. This
module training course will change each year. Topic for the 2012-2013 cycle is Contracts & Minnesota Distressed Properties which is
a 7.5 credit course. The Total Mandatory hours for your 2012-2013 education cycle is 9.5 hours.
Non-residents who complete their state's approved continuing education during the 2 years prior to renewal may count it toward the
30-hour Minnesota continuing education requirement.
Minnesota Real Estate
Licensing Requirements
Continuing Education Requirements
The licensee's continuing education should NOT be reported to the Department at renewal time. The licensee and the Primary Broker must retain copies of all education forms and certificates for their own records. .
Notice for New Licensees: During the initial license period, you must complete all 30 hours (including the 1 hour each of Fair
Housing & Agency Law) anytime within the first license period. Also you do NOT have to complete a training module on your first
June 30th; that is due by the 2nd June 30th or the year you renew for the first time
All education records are subject to random audit by the Commerce Department, and course completion records for those
individuals selected must be submitted to the Department upon request.