A Minnesota buyer is considering working with a licensee who has offered to act as a facilitator rather than as a buyer's agent. The buyer asks, 'What is the main practical difference for me?' Which of the following is the most accurate answer under Minnesota law?
Correct Answer
D) A facilitator will not owe you fiduciary duties such as loyalty and confidentiality, unlike a buyer's agent
Under Minn. Stat. Ch. 82, the key practical difference for the buyer is that a facilitator does not owe fiduciary duties — such as loyalty, confidentiality, and obedience — that a buyer's agent would owe. The buyer does not have a representative advocating exclusively for their interests. The facilitator assists both parties neutrally, which means the buyer's negotiating position and personal information may not be protected in the same way as under a buyer's agency relationship.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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