Minnesota License Law
In Minnesota, which person is NOT required to hold a real estate license?
AA property manager who leases residential units for a fee
BAn individual selling their own property✓ Correct
CA broker negotiating commercial leases for compensation
DA person listing properties on the MLS for a fee
Explanation
Minnesota law exempts individuals who sell their own property from licensing requirements. All others who perform real estate activities for compensation on behalf of others must be licensed.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
State-Specific Concepts
License Law
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