Is Real Estate a Good Second Career in Minnesota?

by Editorial Staff | Oct 22, 2025 | Starting a Real Estate Career

Considering a second career in real estate in Minnesota? It’s worth analyzing the income potential and job market outlook. With average annual salaries around $103,472 and a growing demand for agents due to housing shortages, the field offers promising opportunities. However, you’ll need to weigh entry requirements and training against your current commitments. What about flexibility and lifestyle? These factors could greatly impact your decision as you explore this significant career path.

Income Potential and Earnings in Real Estate

The income potential in real estate can be quite lucrative, especially if you’re willing to put in the effort. In Minnesota, average annual salaries for agents reach $103,472, with earnings ranging from $35,749 to $151,320, reflecting significant income variability. Factors like location, brokerage, and market conditions heavily influence your earnings. Since real estate operates on a commission structure, your income fluctuates based on the number of deals you close. Full-time agents generally earn more, while part-time roles can limit your potential. Top performers can earn upwards of $151,320, especially in luxury markets. Brokers earn over $10,000 more than agents on average, which highlights the potential for increased earnings with additional experience and responsibility. Additionally, understanding the licensing requirements can significantly impact your journey in building a successful real estate career. Building a strong network and reputation can enhance your earnings, leading to a stable income stream over time.

Job Market Outlook for Real Estate Professionals

As you consider a career in real estate, understanding the job market outlook is key for making informed decisions.

In Minnesota, the real estate sector is projected to expand by 6% from 2016 to 2026, outpacing general office clerk roles. Employment statistics indicate a rising demand for agents, fueled by ongoing housing shortages and increasing home prices. This demand is particularly evident in areas like Stearns County, where the median home price remains lower than the Twin Cities metro, attracting first-time buyers and rental investments. The shift in housing demand toward suburban and rural areas indicates a significant change in buyer preferences.

With the Minneapolis-St. Paul metro area experiencing net job growth, the need for skilled professionals remains strong. However, the slowing multifamily development and technology advancements pose challenges.

While certain traditional roles may decline, the overall market trends suggest a robust environment for real estate professionals, particularly in urban and high-demand regions like Hennepin County and Stearns County.

Entry Requirements and Training for Aspiring Agents

Entering the real estate profession requires meeting specific eligibility criteria and completing structured training designed to equip you with important knowledge and skills.

To start your path, you’ll need to fulfill these entry eligibility requirements:

Be at least 18 years old and a legal US resident.
Complete 90 hours of pre-licensing education from state-approved providers, divided into three 30-hour courses.
Pass the Minnesota real estate salesperson exam, achieving a minimum score of 75%. Additionally, be aware that criminal history checks may be required for some applicants.

Once you’ve met these prerequisites, you can apply for licensure through a licensed broker. Additionally, it’s important to note that successful completion of the required pre-licensing education is essential before you can register for the exam.

Work Flexibility and Lifestyle Considerations

Real estate offers a unique blend of work flexibility and lifestyle considerations that can be appealing for those exploring a second career.

With schedule autonomy, you can set your working hours to fit your lifestyle, accommodating both personal commitments and client needs. However, this flexibility can challenge work-life balance, as you’re often required to work evenings and weekends. Many agents juggle part-time roles alongside other jobs, yet the commission-based income can pressure you to extend your hours. Maintaining boundaries between work and personal life demands self-discipline and proactive planning. Ultimately, while the independence of real estate can be empowering, it’s significant to assess whether you can thrive in a self-managed environment with fluctuating demands. Additionally, flexible work arrangements can enhance your ability to explore opportunities outside your immediate market, allowing you to seek properties that better fit your clients’ needs. Moreover, understanding market trends will enable you to make informed decisions that align with your client’s interests and maximize your success in the field.

Professional Advancement Opportunities in Real Estate

The scenery of real estate offers numerous pathways for professional advancement, making it an attractive option for those seeking growth in their second career.

With the right specialized training, you can navigate significant career changes, enhancing your earning potential and job satisfaction.

Progress from sales agent to broker status, which requires additional education and licensing. Many agents successfully transition to a broker role after completing courses and gaining experience.
Explore managerial roles in property and community association management, with higher median wages ($30.71/hr).
Leverage networking through organizations like Minnesota Realtors for mentorship and leadership roles.
Additionally, the Metro Area’s labor force in 2024 reflects a growing demand for real estate professionals as the population and housing needs continue to expand.

Frequently Asked Questions

What Personal Skills Are Essential for Success in Real Estate?

To succeed in real estate, you’ll need strong communication skills and effective negotiation tactics. These abilities guarantee clear client interactions, foster trust, and lead to favorable outcomes, enhancing your overall performance in a competitive market.

How Do Commissions Work for Real Estate Agents in Minnesota?

In Minnesota, commission structures typically range from 5.75% to 6.02% of the sale price. Your earnings depend on whether you’re the listing or buyer’s agent, with splits influencing your overall commission. Negotiate wisely for better outcomes.

What Are Common Challenges Faced by New Real Estate Agents?

New real estate agents often struggle with significant market competition and building client trust. Many lack adequate training, leading to mistakes that can diminish their reputation, while unrealistic income expectations create further stress and instability.

Can I Work Part-Time as a Real Estate Agent?

Yes, you can work part-time as a real estate agent with a flexible schedule. This allows you to balance other responsibilities while engaging in property showings, client meetings, and managing your time effectively to achieve success.

What Networking Opportunities Exist for Real Estate Professionals in Minnesota?

In Minnesota, you’ll find numerous networking events through professional associations like MnREIA and MNCREW. These gatherings foster collaboration, education, and connections, allowing you to expand your network and enhance your real estate career significantly.