Agency Relationships in Real Estate Transactions

Minnesota is a consumer protection state and this form is required by law to ensure that I, and any real estate agent, explain agency to you. When you and I meet, we’ll discuss the 3 types of agency: the single agent relationship, dual agency, and facilitator.

WHAT ARE THE TYPES OF AGENCY?

1. Single Agent Relationship: You can be represented in one of two ways, either in a single agent relationship where your broker represents only you.

2. Dual Agency: Arises when an agent acts as an intermediary for the buyer and seller. buyer is interested in purchasing a property that their agent is also the agent for. If that occasion arises, I would need permission from both you and the seller to proceed with the transaction. If we did proceed, I would treat both you and the seller honestly and fairly and could not disclose any confidential information to either party.

3. Facilitator: Performs services for one or multiple parties but does not represent either party. This role only requires confidentiality from the facilitator. This most often looks like an agent completing the necessary paperwork for both sides after the parties have decided together on the agreement. This does NOT look like the facilitating agent helping both sides come to an agreement (that would be dual agency).

WHEN IS IT SIGNED?

This disclosure is signed during our first conversation, as required by Minnesota law.

HOW LONG DOES IT LAST?

This is not a contract so there is no obligation of any kind tied to your signature. This disclosure simply acknowledges that we discussed the types of representation you may receive in a real estate transaction and what each could mean for you during the buying process.

IS THERE A FINANCIAL OBLIGATION?

No, there is no financial obligation. This is simply a disclosure to confirm that we have discussed the form’s contents, not a contract that holds you to any obligations.

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The Minnesota Attorney General’s office has a Homebuyer’s Handbook that is an excellent resource. Dive in here. You can also download a copy of the disclosure:

Keller Williams Disclosures, Waivers, + Acceptances

The Keller Williams Disclosures, Waivers, and Acceptances form previews items that will come up during the purchase process and pre-emptively gets you and I on the same page. We will see most, if not all, of these questions again when we make an offer on a property and go through the steps of writing a Purchase Agreement.

When is it signed?

At the same time the Exclusive Buyers Representation contract is signed.

How long does it last?

It is effective until your transaction is closed or your Exclusive Buyers Representation Contract expires.

Is there a financial obligation?

Nope, there is no financial obligation.

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The Minnesota Attorney General’s office has a Homebuyer’s Handbook that is an excellent resource. Dive in here. You can also download a copy of the Exclusive Buyer Representation Contract to familiarize yourself:

CE Course: Understanding Historic Interiors

I notice houses 1000% more now that I’m a real estate agent.

Driving and biking around the city is a constant game of “What kind of house is that? I don’t know! But I DO know those are pillars!” or “This style is so common around here but there’s no way it’s called an elf’s home.”

[Picture of houses 1 and 2 with correct titles]

Every year by June 15th, Realtors must have completed 15 credits of continuing education. Classes are offered all over the city by a variety of folks - brokerages, insurance companies, nonprofit organizations. I took one in September called House of Style: Understanding Historic Interiors, offered by Rethos, a Minnesota-based nonprofit supporting the use of old buildings and sites through education, investment partnerships, rural programs, and public policy. 

The class presented information about historic home styles built from 1880s to the 1960s in Minnesota and their interior characteristics. We also discussed common layouts, features, and materials in the context of the social and cultural changes of the times.

A few interesting tidbits from Rethos’s course:

The original Pinterest were pattern books, where architectural house plans could be browsed,  and popular magazines like Ladies Home Journal and The Craftsman.

Lumberman's House Plan Book. 1907.

Reception hall? Likely a Victorian home, when it was common to have a servant welcome a guest while the owner hustled up a rear stairwell to grandly float down the main stairs.

Grand staircase on Summit Avenue in Saint Paul, Minnesota.

White subway tile was popular for the wealthy in the early 1900s-1020s because in their mind, dirt equated germs, so white tile was clean tile.

A 1912 master bath with a classic white subway tile wainscot.

I’ll finish up with a quick plug for classes hosted by Rethos throughout the year, like:

HOT IN HERE: Understanding Boilers and Furnaces
REHAB LAB: Rot Repair and Reglazing
DIY Drains

You won’t be able to fix every problem, but at least you’ll know what you don’t know.

Exclusive Buyer Representation Contract

An exclusive buyer representation agreement is a two-way agreement that allows us to work together without hesitation, without any conflict of interest, and without any division of duties or loyalty. It allows me, as your exclusive agent, to represent you and look out for your best interests when you make a purchase and throughout the process.

When is it signed?

When we decide to work together at our first meeting.

How long does it last?

As long as you want – 1 day, 6 months, 1 year, etc. We can easily extend the agreement or call it quits. This contract can be cancelled at any time by either party.

Is there a financial obligation?

No, there is no financial obligation to you! I am paid by the seller’s agent. This contract ensures I am paid by the seller of the home you ultimately purchase.

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The Minnesota Attorney General’s office has a Homebuyer’s Handbook that is an excellent resource. Dive in here. You can also download a copy of the Exclusive Buyer Representation Contract to familiarize yourself: