Under Minnesota law, which of the following most accurately describes the difference between a dual agent and a facilitator in terms of disclosure obligations?
Correct Answer
B) A dual agent represents both parties and requires written consent from both, while a facilitator represents neither party and must disclose that limited role in writing
Under Minn. Stat. Ch. 82 and § 82.67, a dual agent represents both the buyer and the seller in the same transaction and must obtain informed written consent from both parties before proceeding. A facilitator, by contrast, represents neither party and owes no fiduciary duties. However, a facilitator must still disclose their limited role in writing via the Agency Disclosure Statement, so both parties understand they are not receiving agent representation. The key distinction is representation: dual agents represent both, facilitators represent neither.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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.
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