Who Grants a License: Licenses are granted by the Minnesota Department of Commerce (“MDOC”).
Qualifications to receive a License: All candidates must be affiliated with a licensed real estate company. A candidate must complete 90 clock hours (consisting of three 30-hour courses, called Course I, Course II, and Course III) of study at an MDOC-approved real estate school. All candidates must pass a school-administered final exam, and pass a state exam. All candidates must be at least 18 years of age. For more information about qualifications, see the Apply for a Salesperson License page on the MDOC website.
Applying for the Exams: The pre-licensure curriculum consists of three 30-hour courses, called Course I, Course II, and Course III. Course I must be completed before a candidate can apply to take the state exam. The testing vendor for the MDOC Real Estate Division is PSI. Candidates should create an account, and apply to take the state exam through the PSI website scheduling page. For more information, see the Minnesota Department of Commerce Real Estate Candidate Information Bulletin. NOTE: Courses II and III can be completed after passing the state exam, but must be completed before applying for licensure.
Test Content: The Minnesota state real estate licensing exam is comprised of two separate portions, the national portion and the state-specific portion. Five to ten questions (disbursed throughout both portions of the exam) are considered "experimental" questions and are not scored. Both portions of the test are comprised of multiple choice questions with four answer choices provided for each question. Test takers are allotted 2.5 hours to complete the national portion, and 1.5 hours to complete the state portion. A score of at least 75% on each portion is required to pass. The exam is presented in a computer-based format, but accommodations for paper-based tests and/or oral testing can be provided with special arrangements.
The national portion of the test consists of 80 questions and tests the candidate's knowledge of general real estate concepts, including the following subject areas:
Property ownership
Land use controls and regulations
Valuation and market analysis
Financing
General principles of agency
Mandated disclosures
Contracts
Transfer of title
Practice of real estate
Real estate calculations
Specialty areas
The state-specific test consists of 40 questions and tests the candidate's knowledge of the state-specific concepts, including the following subject areas:
Real Estate Brokerage License Law
Interests in Real Property
Conveyance Procedures and Protection of Parties
Financial Instruments: Obligations, Rights, Remedies
How to Apply for the License: After passing both portions of the state real estate licensing exam, the candidate should log in to www.pulseportal.com, and electronically submit the application. The electronic application must be submitted within one year of passing the exam. For further information, see the Apply for a Salesperson License page on the MDOC website.
Fees: MDOC charges a license application fee.
Who administers the test: MDOC and PSI.
License Renewal Requirements – A Minnesota real estate licensee must take 30 credit hours of continuing education (either online or in the classroom) from an MDOC-approved provider every two years.
Applicable Regulations: Real estate licensees in Minnesota are regulated under Minnesota Statutes Chapter 82 and 83.
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