Which of the following scenarios BEST illustrates the key distinction between a dual agent and a facilitator under Minnesota real estate law?
Correct Answer
B) A dual agent represents both parties and owes agency duties to each; a facilitator assists both parties without representing either
Under Minn. Stat. § 82.67, the fundamental distinction is one of representation: a dual agent has an agency relationship with both the buyer and the seller and owes agency duties (though limited by the dual nature of the relationship) to each party. A facilitator, by contrast, has no agency relationship with either party, owes no fiduciary duties, and simply assists the transaction without advocating for anyone.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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