The Cost of Starting a Real Estate Career in Minnesota—What to Expect

by Editorial Staff | Aug 15, 2025 | Starting a Real Estate Career

Starting a real estate career in Minnesota involves several key costs that you should be prepared for. From pre-licensing education to ongoing expenses, understanding these financial requirements is significant for your success. You might be surprised by the total investment needed, including fees for exams and continuing education. Let’s break down these costs and help you plan for a smooth shift into your new career.

Licensing Requirements and Eligibility

To kickstart your real estate career in Minnesota, you need to meet specific licensing requirements and eligibility criteria.

First, you must be at least 18 years old and a U.S. citizen or possess legal working status. If you’re a licensed attorney or hold another state’s real estate license, you might qualify for partial waivers. Additionally, it’s essential to know that the average earnings for agents in Minnesota is around $78,217. Obtaining a real estate license involves completing courses and passing the exam overseen by the Minnesota Department of Commerce.

The application process requires active sponsorship by a licensed Minnesota broker, who’ll submit your application on your behalf. You’ll also need to pass the Minnesota real estate salesperson exam, achieving a minimum score of 75% on both the national and state portions.

Pre-Licensing Education Costs

Once you’ve met the licensing requirements, understanding the costs associated with pre-licensing education is your next step.

In Minnesota, you’ll need to complete three 30-hour courses, each typically priced around $279, totaling approximately $837. Some providers offer bundles for streamlined payment, which might help with budgeting. Additionally, many students choose to attend weekend classes to accommodate their schedules, which can affect the overall cost and time commitment.

These costs usually cover all fundamental course materials, including textbooks and practice quizzes. However, keep in mind that additional fees may apply for proctoring final exams, often around $29 for virtual sessions. Additionally, the total cost for courses includes the license exam fee of $78 for two parts, which is essential to factor into your budget.

Pricing variations exist among providers, so it’s wise to compare options and confirm you choose an approved provider, assuring quality education aligned with state regulations.

This investment is critical for your real estate career.

Examination and Licensing Fees

As you progress in your expedition to become a licensed real estate professional in Minnesota, it’s important to understand the various examination and licensing fees that you’ll encounter.

The standard exam fee ranges from $63 to $160, with retake fees typically between $39 and $85. You’ll need to budget for the initial application fee for your salesperson license, which can be around $85 to $300. Additionally, expect a license issuance fee of about $100 to $150. When considering your overall costs, a fee comparison is significant, especially if you’re strategizing for potential exam retakes. Remember that you must complete an approved pre-licensing education program before registering for the exam, which can add to your financial commitment. Also, you should be aware that completing a 13-hour pre-license education program is required for salespersons in Wisconsin.

Keep in mind that fingerprinting and background check fees are separate and unavoidable, adding to your initial investment.

Ongoing Continuing Education Expenses

After obtaining your license, ongoing education becomes a key aspect of maintaining your real estate career in Minnesota. You’ll need to complete 30 hours of continuing education (CE) every two years, including specific topics like Agency Law and Fair Housing. All Minnesota real estate Salespersons and Brokers licenses expire every 2 years on June 30, so it’s crucial to stay on top of your CE requirements to avoid any interruptions in your practice. Additionally, you can enroll in courses like Home Inspection 101 to enhance your knowledge of property components.

Various course formats are available, such as live sessions, webinars, and online self-paced programs, so you can choose what fits your schedule best. When budgeting, consider not just course fees but also potential travel costs for in-person classes. Some providers offer bundled packages that can help you save. Planning for these ongoing expenses is important, and by adopting effective budgeting strategies, you can manage your costs while staying compliant with state requirements.

Frequently Asked Questions

How Long Does It Take to Complete Pre-Licensing Education?

Pre-licensing education typically takes several weeks to a few months. You can choose from different education formats, including self-paced online courses, which allow you to accelerate your study time based on your schedule.

Can I Take the Exam Before Completing My Education?

You can’t take the exam before completing your pre-licensing education. Minnesota mandates all exam eligibility requirements be met, including finishing the necessary 90 hours of approved courses, ensuring you’re ready for the significant licensing exam.

What if I Fail the Licensing Exam?

If you fail the licensing exam, don’t worry—you’ve got exam retake options. Utilize study resources like practice exams and flashcards to strengthen your knowledge and improve your chances for success on your next attempt.

Do I Need to Join a Real Estate Association?

Yes, you need to join a real estate association to access significant real estate benefits. You’ll also meet membership requirements, such as holding a valid license and agreeing to the association’s code of ethics.

Are There Any Hidden Costs in Starting My Real Estate Career?

Yes, there are hidden fees and unexpected expenses when starting your real estate career. These can include licensing costs, brokerage fees, association dues, and additional business expenses, so budgeting carefully is key to avoid surprises.