Section 1 Broker Licensing Requirements
Our online broker course is designed to help you learn and remember the important fundamentals and responsibilities that pertain to becoming a Minnesota real estate broker. You may learn at your own best pace, and review the material at any time. At the end of each section, you will be able to download our exclusive Quick Study Review™ study sheets, and you’ll have opportunities to self-test your cumulative knowledge throughout the course with our copyrighted e-Flashcards™.
After taking this course, you may take the Minnesota broker license exam at an approved testing center. The process is explained fully in the course.
After taking this course and passing your Minnesota broker license exam, you may apply for your Minnesota Real Estate broker license. See the Minnesota Department of Commerce website
for current application details and procedures.
This is the outline for our Minnesota Broker Pre-license Course:
Chapter 1 Ownership and Operations
Chapter 2 Minnesota License Law Review
Section 2 Trust Account Requirements
Chapter 1 Opening the Trust Account
Chapter 2 Deposit Requirements
Chapter 3 Trust Account Records
Chapter 4 Trust Account Management
Section 3 Agency
Chapter 1 Current Statutes and Agency Law
Chapter 2 Statutory Addenda and Disclosures
Section 4 Anti-Discrimination
Chapter 1 Federal Fair Housing
Chapter 2 Americans with Disabilities Act and Minnesota Human Rights Act
Section 5 Real Estate Principles Update
Chapter 1 Land Improvements and Estates
Chapter 2 Legal Descriptions
Chapter 3 Governmental Rights
Chapter 4 Property Taxation and Special Assessments
Section 6 Real Estate Sale, Lease and Transfer
Chapter 1 Purchase Agreement and Addenda
Chapter 2 Lease Types and Terms
Chapter 3 Deed Types and Clauses
Section 7 Financing and Valuation Update
Chapter 1 Sources of Financing
Chapter 2 Foreclosure Law
Chapter 3 Principles of Value
Chapter 4 Methods of Valuation
Section 8 Broker’s Role Closing
Chapter 1 Prorating
Chapter 2 Closing Statements
Chapter 3 Closing Documents and Deposit Requirements
Section 9 Income Taxation
Chapter 1 Tax Rules of Home Ownership
Chapter 2 Investment Tax Issues
Chapter 3 Sale of Personal Residence
Section 10 Employment Laws and Insurance
Chapter 1 Fair Labor Standards Act
Chapter 2 Independent Contractor vs Employee
Chapter 3 Tax Laws, Withholding and Reports
Chapter 4 State and Federal Unemployment Tax Act
Chapter 5 Errors and Omissions Insurance
Although this preparatory course is optional, and you do not receive prelicense or continuing education credits for completing it, it will help you polish your understanding of the basic principles the State of Minnesota requires you to learn, much of which you might find on both the uniform and state-specific prelicense exams.
You will also learn proven test-taking tips. The state license exams questions are not supposed to be “tricky,” but knowing the logic behind crafting them can help you avoid misunderstanding them.
In addition to downloadable Quick Study Review sheets, you’ll be able to self-test with our exclusive e-Flashcards™.
And most importantly, you’ll have a chance to practice taking exams, receiving immediate feedback about your performance. If you answer a question wrong, you’ll be required to answer it correctly before moving on. This makes sure the correct answer is mentally imprinted, rather than the incorrect one you had originally chosen.
As in our approved pre-license courses, instructor help is an email away. We hope you enjoy this Exam Prep Course, and good luck on passing your license exams!