Minnesota Agency Model Cheat Sheet

📋 The 1-minute cheat sheet

• An agency disclosure is required in Minnesota real estate transactions.
• Common representation roles: seller's agent, buyer's agent, dual agent, and facilitator (non-agent).
• A salesperson's agency relationships are created on behalf of the supervising broker.
• Agency disclosure should be provided to a consumer at the appropriate point, typically at first substantive contact.
• Dual agency (representing both buyer and seller) generally requires informed written consent from both parties.
• A facilitator assists a transaction without representing either party as a fiduciary agent.
• Agents owe fiduciary-type duties (loyalty, confidentiality, disclosure, accounting, care) to the represented client.
• Verify the current required agency disclosure form and timing with the Minnesota Department of Commerce.