A: Under Minnesota law, a form entitled Agency Relationships in Real Estate Transactions must be presented at first substantive contact to a buyer/tenant or seller/landlord in any real estate transaction. If there is to be any agency representation, there must be a written contract with all elements required by statute for the particular agreement. The Minnesota Association of REALTORS® modified the Agency Relationships in Real Estate Transactions form the fall of 2010 to include transactions dealing with leasing.
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The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.