Greater Lakes Association of REALTORS®

License Education Requirements

The general module course for 2017-2018
Important Notice for all Real Estate Brokers and Salespersons

 Here is information concerning the required 2017-2018 continuing education module training course. There is one 3.75-hour module course that both salespersons and brokers must complete. Completion of this course will satisfy ALL of the following: 1-Hour Fair Housing, 1-Hour Agency Law, and the 1-Hour Broker Module Requirement.  There will be no separate broker module course for 2017-2018.

Please note that commercial-only salespersons and brokers are exempt from these module requirements and must apply for the commercial-only waiver when the broker submits verification of this between April 1st and June 30th each year on Pulse Portal at www.pulseportal.com.

The General module course for 2017-2018
The topics included in the 3.75 credit hours of the 2017-2018 general module are:

Agency, Fair Housing & Special Entities Authority
All non-exempt salespersons and brokers must complete this general module course before June 30, 2018. This course is part of the 15 hours of continuing education that are due each year, not in addition to them.


*The 2016-17 Salesperson & Broker Required Module is “Residential Contract, for 3.75 hours of continuing education.

It must be completed prior to the June 30, 2017, licensing renewal deadline.

This class will explore contracts and forms related to the Minnesota real estate transactions. Special emphasis will be placed on the contract issues that come up in day-to-day business so agents will be better equipped to serve buyers and sellers after instruction on what is contractually required.

After attending this class, real estate licenses will:

  • Have a better understanding of what is required by law in real estate contracts;
  • Examine various contracts, addenda, and agreements and review forms issues that create problems in real estate transactions;
  • Learn to avoid contractual perils and pitfalls;
  • Be better equipped serve buyers and sellers in today’s complex real estate transactions.

*There is no additional module requirement for brokers during the 2016-17 period.


2014-15 Minnesota Department of Commerce Required Continuing Education Modules*:

The 2014 -2015 module requirement totals 7.5 hours. The 7.5 hours consists of TWO 2014-2015 general modules:
  * “Minnesota Disclosure Laws” for 3.75 credit hours, AND
  * “Financing Issues, Earnest Money, and Trust Accounts” for 3.75 credit hours. (This course satisfies the 2014-15 broker module requirement.)

Minnesota Disclosure Laws – Who, What, When and How

3.75 hours CE

This course will provide in depth details on numerous real estate licensee disclosure requirement issues. Curriculum also includes the proper disclosures required by sellers, including selling property “as is” and the liability sellers can incur for non-compliance.

Learning Objectives:

Real Estate salespersons and brokers who attend this course will:

  • Receive detailed information on real estate licensee disclosure requirements;
  • Review seller disclosure requirements including waiver conditions and cautions;
  • Become informed on special disclosure requirements such as environmental, predatory offender and other disclosure considerations;
  • Learn disclosure rules related to manufactured homes and Common Interest Communities.

 

Financing Issues, Earnest Money, and Trust Accounts (#2)

3.75 hours CE

This course will help real estate licensees better understand trust account requirements and issues relating to earnest money. Information will also be shared on the Mortgage Act and Practices (MAP) rule, the Real Estate Settlement and Procedures Act (RESPA) and the Consumer Financial Protection Board (CFPB). Financing topics to be covered include Contract for Deed sales and new FHA loan limitations. (This Module Also Satisfies the 1-Hour Broker Module Requirement)

Learning Objectives:

Real Estate salespersons and brokers who attend this course will:

  • Learn rules for the deposit of earnest money, release of trust funds and record keeping requirements for trust accounts;
  • Learn Mortgage Act and Practices (“MAP”) rules and the penalties for noncompliance;
  • Review Predatory Lending activities;
  • Be updated on duties and responsibilities imposed under RESPA rules;
  • Become informed on new financing issues and FHA loan limits in MN

(This Module also satisfies the 1-hour Broker Module Requirement)


License Renewal

Requirements for Real Estate Licensing Cycle
Before June 30 of your license renewal year, you must complete 30 hours, including:

1. Mandatory 1 hour of Fair Housing
2. Mandatory 1 hour of Agency

Before June 30 of the license cycle, you must complete the required modules for that year:
3. Mandatory Module Training Course
4.  For Brokers Licensees only:  Mandatory Broker Module

At least 15 of these hours must have been completed and reported to your broker before June 30.

How To Check Your Renewal Date
Go to the Department of Commerce’s License Lookup.

How To Check Your Education Transcript
Go to www.pulseportal.com (directions below) to review your Education Transcript. If the transcript is inaccurate, please begin asking questions of the education providers you chose to take your classes from—education providers are the only entities who can submit corrections to the staff at Pulse Portal.

1. Go to www.pulseportal.com
2. Choose program: “Minnesota Department of Commerce”
3. Choose a board: “Real Estate”
4. Click on “Review your CE Transcript” under Search Inquiry Services
* You will need to enter your last name, license number and social security number. (If you do not know your license number, return to “Search Inquiry Services” and click on “Search Licensees” to find and verify a person or entity that is licensed).

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