Under Minnesota law, which of the following is NOT a duty owed by a licensee acting as a facilitator in a real estate transaction?
Correct Answer
C) Advocating for the best possible price and terms on behalf of the buyer
A facilitator under Minnesota law (Minn. Stat. Ch. 82) does NOT advocate for either party. Advocacy — including negotiating for the best price or terms on behalf of a buyer — is a fiduciary duty associated with agency representation. Since a facilitator represents neither the buyer nor the seller, the facilitator has no duty to advocate for anyone's interests. This is the fundamental distinction between a facilitator and a buyer's or seller's agent.
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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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