Marcus, a Minnesota licensee, is working with both the buyer and the seller in a transaction. He has obtained written consent from both parties to represent them simultaneously. Which role is Marcus performing, and how does it differ from a facilitator?
Correct Answer
D) Marcus is a dual agent; unlike a facilitator, he represents both parties and owes them agency duties
Marcus is a dual agent under Minn. Stat. Ch. 82. Dual agency requires informed written consent from both parties and means the licensee represents both buyer and seller, owing them agency-level duties (though limited in scope due to the inherent conflict). A facilitator, by contrast, represents neither party and owes only limited statutory duties — not fiduciary duties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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