How Can I Obtain a Minnesota Real Estate License?
Bryan O'Neil has been building dreams in Minnesota and the neighboring five states for many years. We look forward to making your construction vision a reality! We can construct whatever you can imagine. As the Upper Midwest's favorite building contractors, our design team will sit down with you and discuss your goals, budget, and vision to produce a successful building plan tailored to your specific needs. If you want to work in real estate in Minneapolis, St. Paul, Duluth, Rochester, or any other city in Minnesota, you must first obtain a Minnesota real estate license. To get your Minnesota real estate license, you must be at least 18 years old, complete Prelicensing Course 1 and the state licensing test, pass two more courses, and apply for your license. While the process of becoming a real estate agent is comparable in most jurisdictions, each state has its own set of requirements. The following are the seven steps to become a Minnesota real estate agent:
· You must be at least 18 years old.
You must be at least 18 years old and have legal residence in the United States.
· Sign up for Course I. Before taking the test, you must first finish Course I.
There are three 30-hour courses (Course I, II, and ll). However, just Course I is required before taking the test. Therefore, we provide four educational choices that meet the 90-hour requirement.
· Register for Your Real Estate License Exam in Advance
To get a list of all testing sites, go to https://home.pearsonvue.com. Pre-registration and payment in advance are needed. Then, fill out an application for the Real Estate Salesperson-State and General Combo. Please keep in mind that the school code is 21034212. There are two methods to sign up:
- Online registration is available. Pay using your Visa or MasterCard at https://home.pearsonvue.com.
- Phone registration using the Automated Registration System: 833.273.1946 (open 24 hours).
Otherwise, Pearson VUE registrars are accessible from 6:30 a.m. to 7:00 p.m., Monday through Friday, and Saturday from 10:00 a.m. to 4:00 p.m. You can pay with a Visa or MasterCard.
· Participate in the License Exam Preparation Course (Optional)
Allow enough time before the exam to complete this essential training. Our Minnesota Real Estate License Exam Prep course is designed to eliminate surprises on test days. Our updated materials follow market developments, so you can be assured that you are studying the topics that will lead to your success.
· Take the Test
One must have the following things in the exam:
- Two forms of current, valid signature identification, one of which must be photo-enabled (ideally a driver's license).
- In the Original Course, I received a certificate of completion from Kaplan Real Estate Education.
- Simple calculator (non-programmable).
Candidates may cancel or reschedule without penalty up to two days before the testing date.
· Attend Courses II and III.
Continue your new profession by enrolling in these courses immediately after passing the licensure test.
· Apply for Your Driver's License
Your Employing Broker will assist you in filling out and submitting your licensing application.
Despite the start of the COVID-19 epidemic last year, the Minnesota real estate sector recovered swiftly. Markets in the state are expected to continue their upward trend in 2021. With increasing demand, dwindling unemployment rates, and fast-rising house selling prices, real estate brokers throughout Minnesota should brace themselves for another successful year. The average home in Minnesota was priced at $274,571 in November 2020, a 5.8 percent rise year over year. Prices, meanwhile, show no signs of slowing, with Zillow predicting another 7.6 percent increase over the next year. Rising prices reflect the steady recovery of the state's economy, indicating that this year might benefit both agents and sellers while low-interest rates keep purchasers within reach.
Along with rising property prices, statewide home sales increased 15.8 percent year over year in November 2020. However, during the same period, days on the market decreased by a substantial 25.5 percent, from 51 to 38 days. Minnesota is a seller's market as 2021 unfolds, thanks to long-term low borrowing rates and unusually high demand.After the 2020 economic hardships and in the middle of a nationwide large city migration, rent rates climbed just 2.9 percent statewide and 7.7 percent in the Minneapolis metro region. Meanwhile, just 0.6 percent of Minnesota homeowners were late on their mortgage, the seventh-lowest percentage in the country, and only 2.5 percent of properties statewide had negative equity. As a result, although new transactions are booming and attractive rent costs are attracting an increasing number of people to Minnesota, current homeowners are also doing well.