Minnesota Real estate licenses are good for a maximum of two years. Unless renewed they automatically expire on July 1st. My license and the license for my company are good until July 1, 2024. I have plenty of time to decide if I want to renew.
To keep a license active agents need 15 hours of continuing education each year. Some of the CE will be required modules that change each year. During each licensing period agents are required to take at least one hour of fair housing and one hour of agency.
Licenses are renewed by licensed brokers for licensees who qualify for renewal. Licensees pay a small fee for renewal and licensed real estate brokers pay a higher fee.
A real estate licensee (salesperson) has to work under a licensed broker. In other words, a person can not just get a real estate license and go into business. They have to have a broker who will apply for the license and renew it as required.
The broker is responsible for the real estate agent.
None of this makes sense to most people. Some days it doesn’t make sense to me either.
Licensees who miss the renewal deadline can still renew but they can not work as real estate agents or brokers until they do. If a broker fails to renew a license then none of the agents under that broker can work until the broker’s license is renewed.
There could be someone out there working right now with an expired license. Sometimes people don’t know that their license is expired, at least not right away.
. . the more you know.
