February 10, 2003
A real estate transaction can, many times, be a complicated process. For both the buyer and the seller. Hopefully, your previous experiences have been pleasant.
Many people are unaware of the extensive list of issues that, potentially, could impact the proper outcome of a real estate transaction. Licensed Minnesota real estate agents are aware of these issues because the State has educational requirements and testing standards to insure agents remain informed.
The Minnesota Department of Commerce is the agency regulating the state’s real estate industry. The Department warns, as with any group, there may be some who do not operate within the boundaries. And they have listed the Real Estate Agent Red Flags as a guideline to spot those who may be “an unlicensed person posing as an agent, or a licensed agent who is not following the rules of the profession”.
Certainly, most individuals licensed in the Minnesota real estate industry have professional standards. It is wise to be wary of those who may fall short of accepted standards.