Answers on the Residential Leasing Module

Who Needs to Take the Residential Leasing Module?

We’ve been getting several questions about the Residential Leasing Module that is required for REALTORS® in Minnesota. Minnesota Association of REALTORS® Senior Vice President Linda Modlinski has the answers on the module as is relates to commercial-only and non-resident licensees. Still have questions? Leave a comment and we’ll get them answered!

Q:  Is a non-resident licensee required to take the Residential Leasing module? 

A:  Whether a non-resident licensee is required to complete the module courses depends on which state the licensee is from, because the reciprocal licensing agreements vary from state to state when it comes to continuing education requirements.   A licensee from North Dakota will not need to complete the modules, but a licensee from Wisconsin will need to complete the modules.  Non-resident licensees from other states will need to check with the MN Department of Commerce to verify what the particular CE requirement is based upon their state’s reciprocal agreement.

Please note:  The Pulse Portal website which records and tracks continuing education is designed to do so ONLY for MN resident licensees.  That means if a broker is holding the license of a non-resident, he/she will need confirmation from that licensee that the module requirement has been completed on or before June 30, 2012, to be in full compliance and avoid having the license terminated.

Q:  Is a commercial-only broker or commercial-only salesperson exempt from the new module requirements?  If so, is any documentation required? 

A:  Yes, commercial salespersons and commercial brokers are exempt from the new module requirement, as well as the Fair Housing and Agency Law continuing education requirements provided they have not dealt with any type of residential real estate during the entire two-year license period, ending on June 30, 2012.  This exemption is found in Minnesota Statutes, Chapter 82.61 (c), (i), (j), (k), and (l).  These commercial-only individuals are required to submit to the Minnesota Department of Commerce that they are exempt from this new module requirement as well as the required Fair Housing and Agency Law training.  Such notification must be received by the DOC before the license renewal application can be approved.

You can obtain from the DOC an example of a generic exemption request that commercial-only salespersons and commercial-only brokers can complete and submit via email.  Please note this is extremely time sensitive and should be addressed promptly.  

Advertisements

One thought on “Answers on the Residential Leasing Module

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s