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Is Fannie Mae home path the only one that requires employees as a requirement to become a listing agent and how many?

 

Wayne

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That cracks me up.  I can name several Fannie agents working in offices with zero employees.  I am sure they lied about it...just like they lie about cleaning up the houses and paying the utility bills.

I was with a Fannie Mae direct office for years, so we never had to sign up again.  But when I joined my current office last year, I noticed a requirement to have 3 employees.  How ridiculous!  How many firms, even large ones, have 3 W-2 employees on their staff?  And Tara is right, I can name a few who don't have any employees.  I wouldn't worry about it.

They require 2.

From the Fannie Mae website, here are some of their basic requirements.  Note the last one.

 

Meet minimum supplier qualifications.

  • Your company must have been in business for at least one year, and be able to demonstrate revenue for this period (you may not obtain more than 70 percent of your revenue from Fannie Mae).
  • Your company must have a professional place of business outside of Fannie Mae, and be able to provide that business address to Fannie Mae.
  • Your company must be able to provide a completed W-9 form to Fannie Mae.
  • Your company must be able to provide a certificate of insurance evidencing the insurance coverage appropriate for the level and type of business to be conducted with Fannie Mae.
  • Your company must have and maintain a minimum of three W-2 employees.

don't overlook the 2 page list of diversity criteria.  Even long time ethnic brokers in town can't get direct qualified and get upset when an out of area ethinic broker gets qualified. It's been interesting being a white male american with a filipina wife. She won't let me become a LGBT disabled business person or change my sex to meet the criteria.

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