50-State Real Estate Broker Licensing Compliance Guide
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Minnesota Real Estate License

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Licensing requirements for Minnesota brokerage firms.

A business entity offering real estate brokerage services to the public typically must register with the real estate commission before conducting business activity. For assistance with licensing, please contact us to learn about our software and managed license services.

Company Licenses

Minnesota Real Estate Company Licenses

Minnesota Real Estate Company License

Agency:Minnesota Department of Commerce - Licensing Unit
Law:

Minnesota Statutes Chapter 82. Real Estate Brokers and Salespersons 

Eligible Entity Types:
  • Corporations
  • General Partnerships 
  • Limited Liability Companies 
  • Limited Liability Partnerships
Foreign Qualification is Prerequisite:Yes
Ownership Requirements:
  • A business entity applying for a license shall have at least one responsible person individually licensed to act as broker for the business entity. Each responsible person who intends to act as a broker shall obtain a license.
  • An application for a business entity license shall be verified by a responsible person for the business entity.
  • The application of all responsible persons of a business entity who intend to act as brokers on behalf of a business entity shall accompany the initial license application of the business entity. Responsible persons intending to act as brokers subsequent to the licensing of the business entity shall procure an individual real estate broker's license prior to acting in the capacity of a broker. No responsible person who maintains a salesperson's license may exercise any authority over any trust account administered by the broker nor may they be vested with any supervisory authority over the broker.
Financial Requirements:
  • All trust funds received by a broker or the broker's salespeople or closing agents shall be deposited, as provided in subdivision 5, in a trust account, maintained by the broker for such purpose in a bank, savings association, credit union, or an industrial loan and thrift company with deposit liabilities designated by the broker or closing agent, except as such money may be paid to one of the parties pursuant to express written agreement between the parties to a transaction.
  • The depository bank shall be a Minnesota bank or trust company or any foreign bank and shall authorize the commissioner to examine its records of such deposits upon demand by the commissioner. The industrial loan and thrift company shall be organized under chapter 53. The savings association or credit union shall be organized under the laws of any state or the United States.
Qualifying Individual Requirements:

All companies must have at least one elected officer who is individually licensed to act as the primary broker.

Requirement Notes:

Nonresident real estate companies must obtain a Certificate of Authority from the Minnesota Secretary of State and email it to licensing.commerce@state.mn.us after the license application is submitted.


If you meet the requirements to waive the trust account notice, a completed Trust Account Notice Waiver Certification form must be emailed to  licensing.commerce@state.mn.us

Initial Registration

Form:

Online

Agency Fee:

$180

Before you Apply:
  • A business entity applying for a license shall have at least one responsible person individually licensed to act as broker for the business entity. Each responsible person who intends to act as a broker shall obtain a license.
  • Nonresident real estate companies must obtain a Certificate of Authority from the Minnesota Secretary of State and email it to licensing.commerce@state.mn.us after the license application is submitted.
Required Attachments:

If you meet the requirements to waive the trust account notice, a completed Trust Account Notice Waiver Certification form must be emailed to  licensing.commerce@state.mn.us

Registration Renewal

Form:

Online

Agency Fee:

$120

Due:

Biennially by June 30.

Individual Licenses

Minnesota Individual Real Estate Licenses

Minnesota Real Estate Broker License

Agency:Minnesota Department of Commerce - Licensing Unit

Initial Registration

Filing Method:

Online

Agency Fee:

$180 license fee + $25 technology fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$120 renewal fee + $25 technology fee

Due:

Biennially by June 30.

Minnesota Real Estate Limited Broker License

Agency:Minnesota Department of Commerce - Licensing Unit

Initial Registration

Filing Method:

Online

Agency Fee:

$180

Registration Renewal

Filing Method:

Online

Agency Fee:

$120

Due:

Biennially by June 30.

Minnesota Real Estate Salesperson License

Agency:Minnesota Department of Commerce - Licensing Unit

Initial Registration

Agency Fee:

$100 license fee + $25 technology fee

Notes:

Contact a licensed primary broker to submit an application for licensure. Only a licensed primary broker can submit a license application for you.

Registration Renewal

Filing Method:

Online

Agency Fee:

$60 renewal fee + $25 technology fee

Due:

Biennially by June 30.

Learn about real estate licensing in other states:

Associate Broker - Associate brokers are qualified to work independently as a broker, but choose to work under the authority of a designated broker.

On-Site Manager - A broker or salesperson who oversees the operations of a branch office under the authority of the designated broker.

Qualifying Broker/Designated Broker - An experienced and licensed real estate broker responsible for management and operation of a real estate firm.

Real Estate - Land, buildings, and their permanent improvements and fixtures. Also called "real property" in contrast to personal property.

Real Estate Agent - This term refers generally to any licensed real estate professional.

Reciprocity - Reciprocity makes it easier for out-of-state real estate firms to gain approval to operate in a foreign state by streamlining some licensing requirements.

Association of Real Estate License Law Officials (ARELLO)
Offers a license verification database accross 43 jurisdictions.

NAIOP Commercial Real Estate Development Association Agencies
Aid education, research, and advocacy efforts in the real estate industry.

National Association of Realtors
Real estate trade organization that provides information and resources for development of the real estate industry.

Urban Land Institute
Research and education association concerned with responsible land use and creating sustainable communities.

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