Minnesota Real Estate 6/30 Deadline

How do I renew my Minnesota real estate license?

Minnesota real estate salespeople and brokers must renew their licenses every two years by June 30th. To meet renewal requirements, you must

  1. Complete 30 hours of continuing education
  2. Pay a fee
    • Salesperson: $60 + $10 technical processing fee
    • Brokers: $120 +$10 technical processing fee
  3. Go to the Minnesota Real Estate Commission portal and renew your license be 4:30 pm central time on June 30th.

What continuing education is required to renew my Minnesota real estate license?

You must complete 30 credit hours of approved courses each 2-year cycle. Courses are broken into two 15 hour modules. Courses must include:

  • 1 credit hour of Fair Housing
  • 1 credit hour of Agency Law
  • 1 credit hour of Residential Contracts for 2016-2017 renewal
  • You cannot take the same course twice in a licensing cycle

When must my Minnesota real estate license continuing education be completed by to avoid license lapsing?

Continuing education must be completed by June 30th, however, if you wait until the last two weeks of June to complete your continuing education you risk having your license lapse as well. It takes the state time to process realtor renewals, if your renewal is not processed by July 10th your license will lapse.

Where do I find courses to renew my Minnesota real estate license?

Real Estate Training Institute offers Minnesota approved online continuing education courses to renew your license. We offer a 15-hour package and individual courses to meet requirements for your 2017 module. Individual courses are also available.

Who submits my continuing education to the state of Minnesota?

Real Estate Training Institute will submit all Minnesota resident continuing education. Nonresidents are responsible for submitting their own continuing education to the state. Continuing education certificates are available immediately after completing courses.

 


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Hot Real Estate: Shopping Center Sold in Saint Paul

A multi-tenant shopping center in a growing area is now off the market, after being sold for $3.1 million.

Mid-America Real Estate corp. sold the Lexington Shoppes, 34,000 square feet of retail area. The shopping center is in the booming neighborhood of Saint Paul, which has seen increasing real estate interest in recent years.

The market is hot, and for good reason.

Saint Paul is 20 minutes outside of Minneapolis and a rising business star. According to the Greater Minneapolis-Saint Paul Regional Economic Development Partnership, the labor force has increased faster than the rest of the state and country. It’s also expected to keep growing by 5.2 percent over the next half-a-decade.

Saint Paul consistently ranks one of the best places to live, for factors including low housing costs and cost of living.

Saint Paul’s community is attractive to potential homeowners for its sports, recreation and art and attraction. The city ranks has a high density of artistic opportunities, and large numbers of theaters – only second, behind New York City.

The partnership’s website also highlights that the region is conducive to working moms and young college grads. Income opportunities and affordable housing make it an attractive place for people to settle down, both young and old.

Price-per-square-foot in homes on the market increased from last year and closed-sales went up too.

Saint Paul is definitely a city to keep your eye on.

For more data, visit http://maar.stats.10kresearch.com/docs/lmu/x/SaintPaul?src=page

 


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Commercial Real Estate: An Attractive Victim for Hackers

Data breaches affect every kind of business and Internet user. And sophisticated hackers target commercial real estate in hopes of a big payday, according to Minnesota lawyer Nadeen Schwen, in an interview with Minnesota Lawyer.

Why do hackers target real estate business?

Hackers follow the money. Schwen says they have many chances to manipulate and profit off of real estate transactions and target everyone from attorneys, to buyers, to agents, to brokers online.

Once a hacker has compromised an email thread, they will send out bogus invoices, bank documents or receipts and pose as a major player in the real estate transaction. As soon as the target of the email authorizes any transaction, they kiss that money goodbye.

How do I keep my business safe?

  1. Change your passwords. This is the simplest defense and will be most effective when passwords have a mix of numerals, characters, letters and a mix of capital and lowercase. Change your log-in info often.
  2. Protect customer data. Any financial information or sensitive information should be considered valuable and protected with encryption software.
  3. Surf safely. Block and limit sites that you and your employees can view.
  4. Invest in anti-virus software. Get over the dread of paying a big price tag upfront. If a hack happens, it could spell catastrophe down the line.
  5. Keep your software up to date and use the latest versions of any apps or technology you employ at your business.
  6. Use secure devices. Do not do business on public computers or shared devices, that may unintentionally store log-in information and other data.
  7. Make a plan. Devise a cyber security policy and make sure your employees understand how it works. Figure out how your company will secure data, back up data, and create an emergency response plan in the event of an attack.

 


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