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Broker's Course (April - June)
This course must be completed prior to applying for the broker’s license. You’ll get information to help you pass the exam and operate safely as a good broker. The Minnesota Department of Commerce issues licenses to real estate brokers in Minnesota. In order to obtain the license, applicants must meet minimum experience and education requirements and pass the Minnesota Real Estate Broker Licensing Examination. Experience Requirement Each applicant must have a minimum of three years of actual experience, within the past five years, as a licensed real estate salesperson. Education Requirement Each applicant must be current with his/her continuing education requirement. In addition, applicants must apply for and obtain a broker’s license within 12 months of completing this course. Examination Requirement Each applicant must pass the Minnesota Real Estate Broker Licensing Exam. PSI, the state-appointed testing agency, administers the Broker's Exam at 10 Minnesota locations including Edina, Duluth, Lake Elmo, Mankato, Moorhead, Rochester, St. Cloud, Thief River Falls, Winona and Woodbury. The cost to take the exam is $75.00. Please contact PSI at 800-733-9267 (Monday through Friday, 6:30 a.m. to 7:00 p.m. and Saturday, 10:00 a.m. to 4:00 p.m.) or online at www.psiexams.com for additional information regarding available test dates & times. About the Examination The exam is multiple-choice, and is divided into two separate portions. The 80-question NATIONAL portion addresses information of a general nature. The 50-question STATE SPECIFIC portion covers information unique to Minnesota. A score of 75% or better is required on each portion in order to pass. About the Broker’s Course The Broker’s Course is designed to teach the information you need to pass the broker’s exam and also give you important information about how to be a good broker. We take an in-depth look at all of the Minnesota real estate laws and regulations. You’ll also learn critical information to keep you legal, like how to set up a trust account and how to follow the agency disclosure requirements.
Broker's Course (April - June)
Introduction
• Requirements
• Courses
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