Minnesota License Law
A Minnesota salesperson who wants to open their own real estate brokerage must first:
AComplete 30 additional hours of education and obtain a broker's license✓ Correct
BWork as a salesperson for 5 years minimum
CObtain approval from the local Realtor association
DComplete a business plan approved by the Department of Commerce
Explanation
To open a brokerage in Minnesota, a salesperson must upgrade to a broker's license. This requires: at least 2 years of active salesperson experience within the past 5 years, completion of broker pre-license education (additional 30 hours beyond the salesperson requirement), passing the broker exam, and meeting all other requirements.
Related Minnesota Minnesota License Law Questions
- In Minnesota, which of the following is true about the real estate exam requirement?
- Under MN Statutes Chapter 82, how many hours of pre-license education must a salesperson candidate complete before sitting for the state exam?
- Which Minnesota agency is responsible for licensing real estate professionals?
- The Minnesota continuing education requirement of 30 hours per renewal cycle must include mandatory topics covering:
- Under the Minnesota Real Estate License Law, 'commingling' refers to:
- Which of the following activities requires a real estate license in Minnesota?
- Under Minnesota law, a real estate licensee must maintain errors and omissions (E&O) insurance as a condition of:
- Which of the following constitutes commingling under Minnesota license law?
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