New rules for real estate agents

Beginning next year, real estate agents in Minnesota will have to comply with new continuing education requirements.

A new law sponsored by Rep. Joe Atkins (DFL-Inver Grove Heights) and Sen. Linda Scheid (DFL-Brooklyn Park) adds a number of requirements supported by the Minnesota Association of Realtors.

Effective Jan. 1, 2011, residential real estate brokers and sales associates must receive several hours of training each year in a “module” format that covers topics of current interest to the profession. A test on the material will be required, and the Department of Commerce must approve the training. The requirement does not apply to commercial realtors.

Additionally, beginning July 1, 2011, real estate associates will have to acquire three years’ experience before they can take their real estate broker’s examination. Previously, the law required only two years of experience.

Atkins said the real estate industry asked for the changes because they want to enhance the professionalism of those in their industry.

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