Is a licensed real estate broker or salesperson required to hold a real estate closing agent's license?

A licensed real estate broker or salesperson is not required to hold a real estate closing agent's license because their roles and the activities they engage in during a real estate transaction do not inherently necessitate this additional licensing. In Minnesota, the functions of a broker or salesperson primarily revolve around facilitating the buying and selling of properties, negotiating transactions, and handling related paperwork.

The concept of a closing agent focuses specifically on the final steps of a real estate transaction, which includes managing the closing process and ensuring that all legal documents are appropriately handled and that the financial aspects are settled. While brokers and salespersons may be involved in the transaction process, they are not required to be licensed as closing agents unless they specifically choose to perform functions that qualify as closing services.

This distinction clarifies that while both roles must be licensed in real estate to operate, neither is made to take on the additional burden of obtaining a closing agent's license unless their duties expand into that area directly.