Here's what July's commission changes mean for Minnesota homebuyers, sellers and agents [Yahoo! Finance]
Federal National Mortgage Association (FNMA)
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Source: Yahoo! Finance
That settlement follows a similar $418 million agreement in March with the National Association of Realtors, which on Tuesday received preliminary approval by a judge. he issue has been top of mind in the midst of one of the busiest spring markets in years . Many full-service agents in Minnesota charge sellers a 5% to 6% commission paid to the listing broker who splits it among the various agents and brokerages involved in the deal. The March settlement — which aims to quash (but not admit to) longstanding concerns about whether the current commission structure is akin to price fixing but doesn't specifically challenge the percentages charged — requires agents to have a written representation agreement that specifies compensation before they can show buyers a home. It bans real estate agents from advertising their compensation on listings. Those changes won't go into effect until July, but here is the latest on what the ruling means for those diving into Minnesota's real estate ma
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- 2/26/24 - Keefe, Bruyette & Woods
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- 5/14/24 - Form 3
- 5/14/24 - Form 8-K
- 5/13/24 - Form ABS-15G/A
- FNMA's page on the SEC website