Steps to Becoming a Real Estate Agent in Minnesota

The first Minnesota real estate agent license requirement is that applicants must be at least 18 years old.

1) Complete the 90-hours of MN Department of Commerce-approved real estate courses consisting of 3, 30-hour courses.

2) Apply and pass the state licensing exam, which is administered by PSI. You must pass both the National and State parts of the exam.

3) Find a sponsoring broker to work under.

4) Submit a license application to the MN Department of Commerce. As part of this, you must pass a background check and pay the required license application fee.

To estimate the total cost of getting a Minnesota real estate license, divide it into variable and fixed costs.

Variable cost is the price of a 90-hour pre-license course. For example, RealEstateU offers the course online for an affordable $299. However, it’s not uncommon to see in-person schools charge well over $500.

Fixed costs of getting a real estate license in Minnesota.

State exam fee of $65 that is payable to PSI.
MN Department of Commerce license application fee: $100

Background Check Fee: $30-60

Hence, with online real estate courses from RealEstateU, the total cost to get a Minnesota real estate license is around $510.

Several schools offer in-person and/or online courses. However, check out the real estate online courses in Minnesota offered by RealEstateU, which are the best in state.

Unlike some other schools, RealEstateU does not license courses from third parties. Additionally, you have the convenience of our online courses. 

Finally, get affordably-priced courses, which are the cheapest in the industry.

There are 3, 30-hour course that make up the Minnesota real estate license course package.

These are:

• 30-hour MN Real Estate Salesperson Course I
• 30-hour MN Real Estate Salesperson Course II
• 30-hour MN Real Estate Salesperson Course III

Yes. The MN Department of Commerce permits online study of the 90-hour Minnesota Real Estate Salesperson’s course.

Most students prefer to take the Minnesota pre-license course online since it’s much more convenient than taking it in person. The online course allows you to study at your own pace and provides the convenience to complete the real estate course on the go. If you opt to take the course in person, you will most likely need to follow a fixed schedule.

Real estate agents in Minnesota are among the highest-earning professions in the USA. Statistics from Indeed show their earnings to be around $101,000.
 

The Minnesota Department of Commerce issues real estate licenses to both real estate salespersons and brokers.

A Realtor is a licensed real estate salesperson or broker who is also a member of the National Association of Realtors. A separate Realtor license does not exist.
 

A person who works in real estate on behalf of a third party for compensation requires a real estate license. This includes buying, selling, leasing, or negotiating property deals for clients for a fee.

Someone selling or buying their own property does not need a license because they are not acting on someone else’s behalf.

No. A real estate licensee in Minnesota can operate anywhere in the state.

For example, there is no Minneapolis-specific real estate license. An individual can live in Saint Paul or Duluth, obtain their Minnesota real estate license, and still do deals in Minneapolis.

There are 4 exams to take to get your real estate license in Minnesota. 

First, there are 3 exams covering each of the 30-hour pre-license courses. Next, you need to take the final state licensing exam at a PSI testing center.

You can think of a Minnesota real estate salesperson’s license as an “entry-level” real estate license. This is the first license you will obtain. All real estate salespersons must work under a real estate broker.

Once you acquire the required experience as a real estate salesperson, you qualify to be a real estate broker. 

Once you have your broker’s license, you can open your brokerage and have salespersons work under you.