Under Minnesota law, which of the following situations does NOT require a licensee to provide a written Agency Disclosure Statement to a consumer?
Correct Answer
C) A licensee sends a general neighborhood market report as a mass mailing to all homeowners in a zip code without any personalized follow-up
A mass mailing of general market information — such as a neighborhood market report sent to all homeowners in a zip code — does not constitute 'substantive contact' under Minnesota law because it is not directed at a specific individual regarding a specific transaction. Minn. Stat. § 82.67 triggers the Agency Disclosure requirement at 'first substantive contact,' which requires a personalized interaction about a specific real estate transaction. A generic mass mailing does not meet this threshold.
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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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