Course Description: Risk Management and Minnesota License Procedures

Course Duration: July 1, 2024 - June 30, 2025

This comprehensive course is designed for real estate professionals seeking to fulfill the required curriculum for Salesperson and Broker licensing in Minnesota. Participants will explore critical risk management principles and essential licensing procedures while ensuring compliance with Minnesota state regulations.

Course Outline:

1. Introduction and Course Objectives: An overview of the course and its relevance to real estate practice.

2. Understanding Risk: Participants will learn the definition of risk, its significance in real estate transactions, and review recent enforcement actions by the Minnesota Department of Commerce.

3. Disclosure Requirements:

   • In-depth coverage of agent disclosures, financial interests, advertising rules, compensation structures, and material facts.
   • Emphasis on the consequences of inadequate disclosures.

4. Contracts:

   • Analysis of listing agreements, buyer representation agreements, and facilitator agreements.
   • Discussion on the interference of contracts and essential components of purchase agreements.

5. Negotiation Obligations:

   • Understanding the requirement to present offers promptly and the importance of confidentiality in negotiations.

6. Trust Accounts:

   • Overview of trust account management, including deposits, handling earnest money, and maintaining compliance.

7. Cancellation Procedures:

   • Examination of cancellation methods, distinguishing between breach and cancellation of contracts.

8. License Application and Maintenance:

   • Guidance on contacting the Minnesota Department of Commerce, applying for licenses, and understanding ongoing educational requirements.

9. Continuing Education Requirements:

   • Exploration of continuing education topics, renewal processes, and the importance of compliance with state statutes.

This course includes access to a comprehensive study guide and emphasizes interactive learning through discussions, case studies, and assessments. Join us to build a solid foundation in risk management and Minnesota licensing procedures essential for a successful career in real estate.

Exam: A final examination will assess participants' understanding of the material covered throughout the course.

Prepare to navigate the complexities of real estate with confidence!