Under Minnesota law, which of the following agency roles is unique to Minnesota and is NOT commonly recognized in most other states?
Correct Answer
A) Facilitator
The 'facilitator' (also called a non-agent or transaction coordinator) is a Minnesota-specific agency designation established under Minn. Stat. Ch. 82. While other states may have similar non-agency roles under different names (e.g., 'transaction broker' in Florida and Colorado), the facilitator designation as defined under Minnesota law is unique to Minnesota and is specifically tested on the Minnesota state portion of the real estate exam.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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