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Minnesota Real Estate Courses
Exam Prep Toolkit: Real Estate
The Exam Prep Toolkit: Real Estate gives you a variety of tools to help you understand and retain the knowledge needed to prepare you for national information on your real estate exam.
- Real Estate Flashcards: Delivered electronically, covering hundreds of terms and definitions you will encounter on your real estate exam.
- Real Estate Recorded Review: Powerful recorded webinars covering all topics on the national portion of the licensing exam.
- Real Estate Test-Taking Tips: Recorded webinar covering test-taking tips, strategies for preparing for the national portion of the state licensing exam and how to utilize the test content outlines.
$99.00 BUNDLE
National Real Estate Prep xL - PSI
Prep xL by OnCourse Learning is a sophisticated exam prep tool that leverages adaptive learning technology to tailor study materials to meet your individual needs. Its personalized learning paths provide the optimal study experience to prepare you for the national information on your upcoming real estate license exam. This product should be used only after completion of the state pre-licensing course requirement.
Prep xL features:
- Customized study plan including daily goals that adapt based on activity throughout the system.
- Self-paced, comprehensive library of over 1,000 practice questions that will allow you to concentrate on specific topics based on your confidence and knowledge of the subject.
- Full-length, timed exams that simulate an actual testing environment.
- Real-time readiness data to track your progress and identify your strengths and areas of focus.
$59.00 ONLINE – SELF PACED
ADA and Fair Housing
Fair Housing and the Americans with Disabilities Act legislation affects the business of every real estate professional. This course covers the law and how it pertains to real estate professionals, while refreshing their knowledge of the Federal Fair Housing Laws.
This course covers the prohibitions in the Fair Housing Act, how an individual can enforce the Fair Housing Act, the provisions of the Civil Rights Act of 1866 and the Fair Housing Act of 1968. It also covers the purpose and scope of the Americans with Disabilities Act (ADA) and its effects on licensees of the ADA.
$29.99 ONLINE – SELF PACED
Cost Approach Overview
This introductory course is a hands-on learning exercise explaining cost approach valuation and the methods included in calculating it. Students will learn ways to estimate depreciation and cost. The course includes various examples to ensure proper understanding and retention.
$49.99 ONLINE – SELF PACED
Ethics in Real Estate
A great refresher in ethics, this course reviews the National Association of Realtors (NAR) Code of Ethics and fulfills the mandatory NAR Ethics Renewal Training requirement. Complete with case studies and various scenarios, students will enjoy a better understanding of what is and is not ethical for real estate professionals. Highlights include decision-making exercises designed for an in-depth understanding of application in daily real estate practice.
$29.99 ONLINE – SELF PACED
Income Capitalization Overview
Learn all the steps included in the income approach to home and property valuation. This course dives into how to estimate rates of capitalization as well as income and expenses. Highlights include coverage of yield capitalization and direct capitalization as well as multiple examples designed specifically to help students better absorb and fully comprehend the material covered.
$49.99 ONLINE – SELF PACED
Minnesota Appraisal Courses
Basic Appraisal Principles
Gain a foundation in appraisal principles. This course is an introduction to topics including legal considerations, what influences the value of real estate, real property concepts and characteristics, principles of economics, types of value and real estate markets and analysis, ethical considerations and highest and best use. This 30 hour course fulfills the Real Property Appraiser Qualification Criteria for the levels of Trainee up to Licensed Appraiser.
$319.00 ONLINE - SELF PACED
Basic Appraisal Procedures
Want thorough insight into the process of valuation? Then this course is for you! During this 30-hour curriculum, students will learn the three approaches used by appraisers to reach the opinion of value (income capitalization, sales comparison and cost) and how to derive multipliers and rates. Also included is a guide through the sales comparison approach, which is comprised of checking the validity of information, organizing a comparative analysis, making adjustments, selecting comparison units, and conducting market research and reconciliation. Students will enjoy the hands-on completion of crucial sections of an appraisal report as well as gain insight into property description, design basics and construction. This course fulfills 30 hours of Real Property Appraisal Qualification Criteria for the levels of Trainee to Licensed Appraiser. It is advised to complete the Basic Appraisal Principles and Procedures Courses before taking this course.
$319.00 ONLINE - SELF PACED
Minnesota 75-Hour Real Estate Property Appraiser Trainee Package
Covers 75 hours of the new Real Property Appraiser Qualification Criteria. Subject areas include Basic Appraisal Principles, Basic Appraisal Procedures, and the 2018-2019 15-Hour Equivalent USPAP Course.
This packages includes:
- Basic Appraisal Principles
- Basic Appraisal Procedures, 2018-2019
- 15-Hour Equivalent USPAP Course and the USPAP Manual eBook.
$749.00 BUNDLE
2018-2019 15-Hour Equivalent USPAP Course
This mandatory course will introduce aspiring appraisers to the requirements for ethical behavior and competent performance set forth in the Uniform Standards of Professional Appraisal Practice (USPAP).
With the use of practice tests and interactive appraisal scenarios, you will get a full understanding of the history of appraisal standards, the structure of USPAP, essential steps in the appraisal process, USPAP definitions, and how to follow USPAP standards in your new career as a real estate appraiser.
The mandatory Appraisal Foundation USPAP manual ($75 value) is included at no additional cost.
$279.00 ONLINE – SELF PACED
Residential Appraiser Site Valuation & Cost Approach
Gain confidence in your appraisal valuation skills! A more in-depth dive into appraisal valuation concepts and cost approach applications, this course meets 15 hours for the Trainee level up to the Licensed Appraiser level of Real Property Appraiser Qualification Criteria. Develop a stronger understanding of the process of the cost approach as this covers step-by-step the appraisal value process while applying this method. Highlights include interview methods and tips, market extraction, and data sources from professional services. Please note that Basic Appraisal Principles and Basic Appraisal Procedures are both prerequisites for this course.
$189.00 ONLINE – SELF PACED
Minnesota Real Estate Career
License Process for Minnesota
Minnesota Real Estate License Requirements
Learn about the real estate education needs for licensing and renewal in your state.
Licensing Board/Commission:
Minnesota Department of Commerce - Real Estate License
Requirements:
Education hours required for a real estate salesperson license in the state of Minnesota: 90 hours (Applicants need to complete three courses, each of which consists of 30 hours of instruction.)
Education hours required for a real estate broker license in the state of Minnesota: 30 hours of broker coursework (or at least three years of licensed real estate salesperson experience in Minnesota or another state with comparable requirements within the five years prior to the date of application for the broker's examination)
Reciprocity:
Real estate commissions and boards across the country are adopting policies for a real estate agents in one state to more easily become licensed in another state. Minnesota has reciprocal relationships with Colorado, Iowa, Nebraska, North Dakota, Oklahoma, South Dakota and Wisconsin. Those with active licenses in one of these reciprocal states must:
• complete the 30 hour broker course;
• have at least 3 years of licensed real estate salesperson experience within the past 5 years (If this experience was obtained in a capacity not requiring a Minnesota real estate license, you must first submit a request for a waiver of salesperson experience.); and
• email a letter of certification (no more than 90 days old) documenting that you are currently licensed as a broker and reside in Colorado, Iowa, Nebraska, North Dakota, Oklahoma, South Dakota or Wisconsin. (Applicants with an active Wisconsin license must also email course completion certificates documenting completion of a Minnesota broker course of at least 13 hours and must email original passing results for the Minnesota State Laws portion of the written examination.)
Continuing Education (CE) and License Renewal Requirements:
Minnesota real estate professionals must renew their licenses every two years by June 30. Licensees must take 15 hours of real estate CE every year by June 30.
Minnesota Appraisal Career
License Process for Minnesota
Minnesota Real Estate Appraisal Licensing Requirements
Learn about the appraisal education needs for licensing and renewal in Minnesota.
The information contained below is designed to provide a summary of the minimum education, experience, and examination requirements established by the Minnesota Department of Commerce. The information provided below can be found on the Department’s website. However, we recommend you contact the Department for more detailed information and for any changes which may have occurred.
Licensure Levels
• Trainee Real Property Appraiser
• Licensed Residential Real Estate Appraiser
• Certified Residential Real Property Appraiser
• Certified General Real Property Appraiser
Licensure Requirements to Become an Appraiser
• Must be at least 18 years of age
• Must have a high school diploma or its equivalent
• Must meet the educational requirement for the applying level of appraiser licensure • Must meet the experience requirement for the applying level of appraiser licensure • For Certified Residential level: A minimum of an Associate’s Degree OR 21 college semester hours in specific subject matters is also required
• For Certified General level: A minimum of a Bachelor’s Degree OR 30 college semester hours in specific subject matters is also required
• Satisfactory completion of the state examination
• Submit application, required documents, and associated fees
Appraiser School Education Requirements
• 75 hours for the Trainee Real Property Appraiser which consist of the following appraiser courses: Basic Appraisal Principles (30 hours), Basic Appraisal Procedures (30 hours), 15 Hour National USPAP Course or its equivalent (15 hours)
• 150 hours for the Licensed Residential Real Estate Appraiser which include the same hour requirement as the Trainee Real Property Appraiser level AND: Residential Market Analysis and Highest and Best Use (15 hours), Residential Appraiser Site Valuation and Cost Approach (15 hours), Residential Report Writing and Case Studies (15 Hours), Residential Sales Comparison and Income Approach (30 hours)
• 200 Hours for the Certified Residential Real Property Appraiser which consist of the same 150 hours of Licensed Residential Appraiser education AND: Statistics, Modeling and Finance (15 hours), Advanced Residential Application and Case Studies (15 hours), Appraisal Subject Matter Electives (20 hours)
• 300 hours for the Certified General Real Property Appraiser which includes the same 200 hours for the Certified Residential Appraiser education AND: Income Property Appraisal (60 hours), General Appraiser Report Writing and Case Studies (10 hours), General Appraiser Market Analysis and Highest and Best Use (15 hours)
Experience Requirements for Becoming an Appraiser
• Trainee Real Property Appraiser – No experience requirement
• Licensed Residential Real Property Appraiser – 2000 hours in no less than 12 months • Certified Residential Real Property Appraiser – 2500 hours in not less than 24 months • Certified General Real Property Appraiser – 3000 hours in not less than 30 months with at least 1500 hours of experience in nonresidential appraisals
Continuing Education Requirements for Appraiser License Renewal
• Licensees must renew every 2 years by August 31st
• 30 hours of continuing education appraiser classes must be completed during the renewal cycle
• The 7-hour National USPAP course must be completed every renewal period
Colorado Real Estate Career
License Process for Alabama
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