A Minnesota buyer is working with licensee Greg, who has disclosed in writing that he is acting as a facilitator. The buyer asks Greg, 'Since you're not my agent, do you still have to be honest with me?' Which of the following best reflects Greg's obligations under Minnesota law?
Correct Answer
A) Yes, because all Minnesota licensees, including facilitators, must provide honest and accurate information
Under Minn. Stat. Ch. 82, even though a facilitator does not owe fiduciary duties, all Minnesota licensees — including facilitators — are required to provide honest and accurate information and are prohibited from engaging in fraud or misrepresentation. The facilitator role limits the scope of duties but does not eliminate the baseline obligation of honesty.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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