MINNESOTA Real Estate CE
Deeds 2.0
Asset Management 3.0
1031 Exchanges 3.0
Home Inspection 3.5
Agency 4.0
Fair Housing 4.0
Code of Ethics 6.0
MINNESOTA
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Real Estate Continuing Education Minnesota Statutes 82.22
All real estate salespersons and all real estate brokers shall be required to successfully complete 30 hours of real estate continuing education, either as a student or a lecturer, in courses of study approved by the commissioner, during the initial license period and during each succeeding 24-month license period. At least 15 of the 30 credit hours must be completed during the first 12 months of the 24-month licensing period. Licensees may not claim credit for continuing education not actually completed as of the date their report of continuing education compliance is filed.
As part of the continuing education requirements of this section, the commissioner shall require that all real estate brokers and salespersons receive (1) at least one hour of training during each license period in courses in laws or regulations on agency representation and disclosure; and (2) at least one hour of training during each license period in courses in state and federal fair housing laws, regulations, and rules, other antidiscrimination laws, or courses designed to help licensees to meet the housing needs of immigrant and other underserved populations. Clauses (1) and (2) do not apply to real estate salespersons and real estate brokers engaged solely in the commercial real estate business who file with the commissioner a verification of this status.
SAMPLE COURSE DESCRIPTIONS
This package is comprised of the following courses
•Agency (4 hours) - Meets Agency Law CE Requirements
•Fair Housing (4 hours) - Meets Fair Housing CE Requirements
•Tax Favorable Real Estate Transactions (4 hours) - Meets Real Estate CE Requirements
•1031 Exchange (3 hours) - Meets Real Estate CE Requirements
Course Descriptions :
Agency: This course explains how agency is created and defines the various agency relationships that exist. Learn how to discern the differences between the real estate licensee's fiduciary duties to clients and their six general duties to customers.
Fair Housing: This course covers broad issues on fair housing laws. Specifically, the student will learn: what fair housing laws exist, what classes of individuals are covered under these laws, how discrimination is defined in real estate, how can one avoid discriminating practices, and what the consequences are for non-compliance with fair housing laws.
Tax Favorable Real Estate Transactions: We will discuss the application of current tax advantages of using both qualified and non-qualified tax products such as IRA's, SEP IRA, 401k, Roth IRAs and charitable gift annuities. The use of these applications will provide the real estate professional with the opportunity to create a long standing and profitable relationship with his or her clients, as well as attracting a more sophisticated investor wishing to find an alternative to 1031 exchanges.
1031 Exchange: This course explains the benefits of the 1031 exchange for the investor, licensed real estate agent/broker and other parties. Learn what qualifies under Section 1031 and how to utilize the various exchange formats to enhance your clients' position in the investment real estate market.
This package is comprised of the following courses
•Agency (4 hours) - Meets Agency Law CE Requirements
•Fair Housing (4 hours) - Meets Fair Housing CE Requirements
•Property Management (4 hours) - Meets Real Estate CE Requirements
•Asset Management(3 hours) - Meets Real Estate CE Requirements
Course Descriptions :
Agency: This course explains how agency is created and defines the various agency relationships that exist. Learn how to discern the differences between the real estate licensees' fiduciary duties to clients and their six general duties to customers.
Fair Housing: This course covers broad issues on fair housing laws. Specifically, the student will learn: what fair housing laws exist, what classes of individuals are covered under these laws, how discrimination is defined in real estate, how can one avoid discriminating practices, and what the consequences are for non-compliance with fair housing laws.
Asset Management: This module provides an introduction to the basics of asset management. It introduces the student to the key ideas and concepts of management as well as the techniques a manager will use to evaluate the market and evaluate the financial impact of alternatives in order to make properly informed decisions. The student will learn how to handle distressed properties and how to successfully market a revenue-increasing strategy.
Property Management: This course covers the property manager's basic functions, including administrative duties, leasing practices and the manager's legal relationships with the owner and the tenants of the property. The course also discusses the way to construct a management agreement so that the manager and the owner clearly understand one another's roles. Licensees will benefit from understanding the various types of property management, as well as the duties that successful property managers must perform.
A deed is one of the most common instruments of title conveyance and all real estate professionals need a clear understanding of a deed’s use and purpose.
Upon completion of the course, the student will be able to:
•List the general requirements of a legally enforceable contract
•Describe the difference between title and deed
•Explain the basic use and purpose of deeds
.•Identify the required elements of a deed
•Recognize the different types of deeds and identify what type of deed should be used, depending on the quality of estate and condition of title to be transferred
•Distinguish between the role of a real estate professional from the role of a licensed attorney
•Understand law pertaining to title conveyance
Property management is a special category of real estate work. The term “property management” generally refers to the group of services which an owner hires a professional property manager or management firm to perform. The quality of management directly affects the profitability of the property being managed. A skilled property manager thus protects the owner’s capital investment in real estate and makes sure that the property generates profit. In many cases, property managers must be licensed real estate brokers. We will cover a property manager’s basic functions, including administrative duties, leasing practices and the manager’s legal relationships with the owner and the tenants of the property. The course also discusses the way to construct a management agreement so that the manager and the owner clearly understand one another's roles. Licensees will benefit from understanding the various types of property management, as well as the duties that successful property managers must perform.
Upon completion of this module, the student will be able to:
•Describe the purpose and the various kinds of property management
•Outline the manager’s legal relationship with the owner
•Identify the day-to-day tasks of the property manager
•Describe effective ways for a property manager to interact with tenants and potential tenants
•Recognize the various types of leases and leasing procedures
This course discusses liens, taxes and foreclosures. There are many types of liens as well as several kinds of taxes that can attach to a parcel of real estate. When borrowers default on a debt, foreclosure is the process by which lien-holders collect the unpaid portion of a debt. Because liens represent an interest in real property, it is crucial that real state licensees develop an in-depth understanding of liens and lien-related issues. Such knowledge also helps licensees to better advise buyers and sellers.The first lesson presents a general overview of liens, explains the classification of liens and discusses the types of non-tax liens. We then discuss taxes and tax issues, including ad valorem taxes, real estate tax computation, special assessments, real estate transfer taxes, federal income taxes, capital gains taxes, and tax shelters for homeowners and investors. We also include a discussion about the priority of liens and the methods of foreclosure, redemption, deficiency judgments, tips for homeowners facing foreclosure, and scams related to foreclosure.
Upon completion of this course, the student will:
•Be able to define the terms lien and tax lien and understand their operation.
•Recognize the different types of liens and know how their priority is established.
•Be able to identify and describe types of non-tax liens.
•Understand how ad valorem taxes and special assessments are levied.
•Know how homeowners and investors can save on federal income taxes and capital gains taxes through the use of tax shelters.
•Be able to describe and list different types of foreclosures.
•Recognize alternatives to foreclosure and common scams related to foreclosure.
This course provides an introduction to residential real estate finance, including information on how to underwrite FHA, VA, FNMA and FHLMC loans. Understanding this information will help the student assist his or her buyer- and seller-clients from the initial meeting, through the closing proceedings with basic financing and loan-qualification questions.
In accordance with TREC rules Sections 535.71 and 535.72D, in this course, you will learn the basics of the different types of loans available, loan applications, appraisals, escrow, titles and credit reports, including qualifying for loan amounts and verifying income and assets.
Upon completion of this module, the student will know how to calculate loan amounts, estimate monthly payments, property taxes, hazard and mortgage insurance (for conventional, FHA and VA) and qualifying ratios and income.
Learning Objectives
Upon Completion of this course, the student will:
•Understand the basic concepts of real estate financing, and the key terms involved
•Know how to qualify a buyer for the most common types of loans
•Be familiar with the use and function of escrow accounts
•Know what a Mortgage Insurance Premium is
•Know the underwriting guidelines and process
•Be familiar with the three most common types of loans: Conventional, FHA and VA
•Know the advantages and disadvantages of conventional loans
•Know how to use conventional qualifying ratios
•Know the advantages and disadvantages of FHA loans
•Know about the differing FHA qualification ratios
•Know the advantages and disadvantages of VA loans
•Be familiar with VA eligibility and qualification periods
•Be able to calculate the amount of VA entitlement used
•Be able to calculate VA loan amounts and required down payments
•Know the process and qualifications for assuming VA and FHA loans
•Be familiar with other types of loans available
•Know how to underwrite and close loans
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Online SchoolRoom is the premier site for real estate continuing ed classes. You can learn about us or contact us if you have a problem and we have help available 24/7. We have continuing ed courses for Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Indiana and Kansas. We also serve Maine, Michigan, Minnesota, Mississippi, Missouri and Montana. The list continues with Nebraska, Nevada, New York, North Carolina, Ohio, Oklahoma, Pennsylvania and Tennessee. We finish with Texas and Virginia. If you can't find what you are looking for, please use our sitemap.
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1. What is the cost of the course and what methods of payment are accepted?
A:The cost of each course is located in the course catalog. You may pay using all major credit cards (Visa, MasterCard, Discover, American Express) and Telecheck.
2. Is it secure to send my credit card information over the internet?
A:Yes. We use a secure site since credit card transactions are very sensitive in nature.
3. What happens if I get disconnected from the internet?
A:If you are disconnected from the Internet, you will need to log back into your account. In this case, you will return to the beginning of the lesson you were working on.
4.Can I take the course from various locations and computers?
A:Our courses are set up for students to access their account from any computer that is compatible and has Internet access.
5. What happens if I have technical difficulties or the system malfunctions during the course?
A:A trusted eLearning provider,
We are dedicated to the support of our students and have help available 24/7.
Call for registration help 877.230.9485
Call for bulk rates 877.230.9485
6. Can I take this course with the AOL browser?
A:Although you can take the course with any browser of your choosing please note that our technical support team is not able to provide assistance in the event of a problem while taking a course with the AOL browser.
7. Do I need to use a PC? What if I have a Macintosh?
A:If you have a MAC you can still sign on to take any of our classes. Many of our customers have taken their courses on a MAC and had no problems whatsoever. However, be aware that our technical support team may be unable to assist you should you encounter technical difficulties. If you have a MAC, you will need the latest version of internet explorer as well as the latest version of the Macromedia Flash Player.
8. Do I need to have sound on my computer to take these classes?
A:While sound is another feature of our courses, it is not necessary for a customer to have sound in order to learn the course material or complete the course. All information played in audio is also displayed in text by the course player.
9. How do I get a username or password? What do I use it for? What should I do if I forget it?
A:The username and password is selected by the student. It should be easily remembered; we suggest the student use their email address. Students will use the same username and password each time they log in to the virtual university page to access their course. Returning students are able to log in using the Returning Student section on the home page of the virtual university.
10. How to get the credit hours reported?
It depends on your state, please call our support center for more information.
11. Who do I contact to take the State Real Estate Exam?
A:Contact your State's Real Estate Commissions board to sign up and register for the state exam.
12. Can the pre-licensing courses be repeated for state post licensing requirements or the SAE in Texas?
A:No, the courses you took for your pre-licensing can not be repeated as post license / SAE courses.
13. If I am licensed in another state, how many credit hours are required to get a Real Estate license in Texas?
A:Texas does not offer reciprocity with any other states in regards to real estate licensure. To become licensed in the state of Texas,
an out of state licensee must meet all current Texas licensing requirements.
MINNESOTA
REAL ESTATE
CE CLASSES
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