It takes approximately four months to become a licensed real estate agent in Minnesota. But it also depends on the time it takes you to complete the pre-license course, exam, application, and get sponsorship by a licensed real estate brokerage.
90 hoursTo get a Minnesota real estate salesperson license you must: Be affiliated with an actively-licensed real estate broker, who will submit your application for license. Complete 90 hours of Pre-Licensing education. Take and pass the salesperson licensing examination.
The salesperson exam consists of 80 national questions and 40 state-specific questions. To pass, you must correctly answer at least 75% of the questions. The broker exam consists of 80 national questions and 50 state-specific questions. To pass, you must correctly answer at least 75% of the questions.
There is not a specified limit on the number of times you can retake the Minnesota salesperson exam. You do need to wait 24 hours before scheduling your retake. You will need to pay the exam fee each time you take the exam, either $63 for the full exam or $39 for one section.
The average salary for a realtor is $77,260 per year in Minnesota. 68 salaries reported, updated at June 9, 2022.
2-5 monthsOn average, it takes anywhere from 2-5 months to complete real estate school and earn a real estate license. However, this can vary depending on your state's licensing requirements and application process and whether you choose an online real estate school or traditional classroom courses.
ColoradoColorado is regarded as the hardest state since agents need to cover 160 hours of education, pass two tests, pass a background check, and be fingerprinted. In contrast, most other states require less than 100 education hours, with the majority falling with the 40-hour requirement.
FeesAbstracter$50$40Real Estate Broker$180$120Real Estate Closing Agent$115$80Real Estate Company$180$120Real Estate Salesperson$100$602 more rows
Is the Real Estate Licensing Exam multiple choice? Yes. In general, you should expect 60-80 state-specific multiple choice questions, and around 80-100 multiple choice questions on general real estate concepts. The test is usually given in two sections and candidates are expected to pass both sections.
How Much Do Real Estate Agents Make At Most? According to the Bureau of Labor Statistics, U.S. real estate agents will earn a median income of $56,000 per year in 2020. It cost about $49,000 according to the figures.
Must be at least 18 years of age. Must have at least 3 years of licensed real estate salesperson experience in Minnesota or another state with comparable requirements within the 5 years prior to the date of application for the broker's examination. Must have successfully completed the Broker 30-Hour course.
How Do I Get My Minnesota Real Estate License?Step 1: Must be at Least 18 Years of Age. ... Step 2: Register for Course I. ... Step 3: Pre-Register for Your Real Estate License Exam. ... Step 4: Attend the License Exam Preparation Course (Optional) ... Step 5: Take the Exam. ... Step 6: Attend Course II and Course III.More items...