Minnesota

Minnesota Real Estate Study Guides

The Minnesota License Professor is Minnesota's number one provider of high quality real estate knowledge designed to help YOU pass your Minnesota real estate exam the first time. Explanations and feedback given by the Minnesota License Professor is provided by real estate license instructors and professional realtors from across the United States. Many students have already aced their Minnesota real estate exam by preparing with the Minnesota License Professor.

Contents


Minnesota state specific topics include:

  • Licensing requirements
  • Brokerage practices
  • Property disclosures
  • Advertising
  • Accounting requirements

The Minnesota License Professor covers all of the PSI necessary fundamentals of real estate including; 1) Property Ownership, 2) Land Use Controls and Regulations, 3) Valuation and Market Analysis, 4) Financing, Laws of Agency, 5) Mandated Disclosures, 6) Contracts, Transfer of Property, 7) Practice of Real Estate, 8) Mathematics, 9)Specialty Areas, as well as, 10) state specific content.

The Minnesota License Professor Features:

  • 3 interactive study methods (Learning, Exam, and Flash Card)
  • 14 practice real estate license exams containing over 2100 questions
  • Both state and national real estate exam questions
  • Specific math and definition exams
  • Real estate specific online dictionary with hundreds of terms phrases

Studying with the Minnesota License Professor will:

  • Increase your understanding of course material
  • Improve your exam comfort, familiarity, and completion speed
  • Start preparing immediately as there is no software to be delivered
  • Work from home comfortably (slippers allowed): Study wherever and whenever you desire
  • Have no need to attend expensive exam prep classes or real estate license school

The content for each MN real estate exam has been extensively planned out by the Minnesota License Professor's editorial staff; professionals who teach real estate license courses all over Minnesota. Through their valuable years of instructional experience they have created a series of practice tests that help future realtors prepare for their real estate exam. Don't set up to fail. Pass the real estate exam using the excellent practice exams and informative feedback that the Minnesota License Professor's system provides.

The Minnesota License Professor covers:

  1. Introduction to the Real Estate Business
  2. Real Property and the Law
  3. Concepts of Home Ownership
  4. Agency
  5. Real Estate Brokerage
  6. Listing Agreements and Buyer Representation
  7. Interests in Real Estate
  8. Forms of Real Estate Ownership
  9. Legal Descriptions
  10. Real Estate Taxes and Other Liens
  11. Real Estate Contracts
  12. Transfer of Title
  13. Title Records
  14. Real Estate Financing: Principles
  15. Real Estate Financing: Practice
  16. Leases
  17. Property Management
  18. Real Estate Appraisal
  19. Land-Use Controls and Property Development
  20. Fair Housing and Ethical Practices
  21. Environmental Issues and Real Estate Transactions
  22. Closing the Real Estate Transaction
  23. Real Estate Math
  24. Minnesota Law and Practice

Minnesota Real Estate License Requirements

In Minnesota, exams, licensing, and continuing education for real estate agents are governed by the Minnesota Department of Commerce.

There are two basic real estate licenses in Minnesota, a salesperson's license and a broker's license. Generally, a salesperson's license allows the holder to sell real estate only under the auspices of a licensed broker. (Salesperson's licenses are generally what people refer to when they say they have a real estate license.)

Real Estate Salesperson's License

A Salesperson must be licensed to act on behalf of a licensed Minnesota Broker, and may not be licensed to act on behalf of more than one licensed Minnesota Broker during the same period of time. The license of each Salesperson shall be mailed to and remain in the possession of the licensed Minnesota Broker with whom the Salesperson is affiliated until the Salesperson ends affiliation with the Broker. The term of a Salesperson license is two years, expiring on June 30. Application forms are available by clicking on the links below.

Sample Salesperson Exam

Real Estate Broker's License

Applicant must have 2 years of licensed Minnesota Salesperson experience within the 5 years prior to the date of application for a Broker license in Minnesota or another state with comparable requirements. If this experience was obtained in another state, you must first submit a "Request for Waiver of Salesperson Experience" form. Applicants who wish to be considered for a waiver of the Salesperson experience requirement must submit this form to the Commerce Department and receive approval prior to taking the Broker exam.

Sample Brokers Exam

Minnesota has reciprocal agreements with:

  • Colorado
  • Iowa
  • Nebraska
  • North Dakota
  • Oklahoma
  • South Dakota
  • Wisconsin

Anyone holding licenses from any of these states may apply for a reciprocal license, and may be able to forego some classroom work and other requirements.