Minnesota License Law
Under Minnesota law, a salesperson may collect compensation for a real estate transaction:
ADirectly from the buyer or seller
BOnly through the salesperson's employing broker✓ Correct
CThrough any licensed broker in the state
DThrough the Multiple Listing Service
Explanation
Minnesota law requires that all compensation to a salesperson flow through their employing broker. A salesperson cannot independently collect compensation from a client.
Related Minnesota Minnesota License Law Questions
- Under Minnesota Chapter 82, which of the following people is EXEMPT from requiring a real estate license?
- A Minnesota salesperson wants to change brokers. What must they do to make this change legally effective?
- A Minnesota salesperson who wants to open their own real estate brokerage must first:
- In Minnesota, which of the following best describes the concept of 'misrepresentation' as it relates to real estate license law?
- A Minnesota real estate licensee wants to sell their own personal property. Which disclosure is required?
- Under MN Chapter 82, a Minnesota real estate salesperson may NOT:
- A Minnesota broker is found to have violated Chapter 82. Which penalty is NOT within the Department of Commerce's authority to impose?
- Under MN Statutes Chapter 82, how many hours of pre-license education must a salesperson candidate complete before sitting for the state exam?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →