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Minnesota · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 MinnesotaMinnesota licensees must advertise truthfully and in a way that is not false, misleading, or deceptive to consumers. Advertising is generally conducted under the broker's name and supervision, and a salesperson markets property on behalf of the broker. Brokers are responsible for maintaining transaction and trust-account records as required by the Minnesota Department of Commerce. Proper handling and accounting of client trust funds, with records available for inspection, is a core compliance obligation.
Yes. State License Law is a scored domain on the Minnesota real estate licensing exam, and this topic appears in the state license-law portion.
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Minnesota applies its own license law on top of the national portion. This page covers the Minnesota rules specifically, which is what the state section of your exam tests.