Under Minnesota law, a facilitator has certain limited statutory obligations even though the facilitator is not an agent. Which of the following is NOT a statutory obligation of a Minnesota facilitator?
Correct Answer
C) Advocating for the buyer's best price and negotiating terms on the buyer's behalf
Advocating for the buyer's best price and negotiating terms on the buyer's behalf is NOT a statutory obligation of a facilitator — it is the role of a buyer's agent. A facilitator under Minnesota law (Minn. Stat. Ch. 82) is a non-agent who represents neither party. The facilitator's limited obligations include honesty, disclosure of known material facts, and providing accurate information. Advocacy and negotiation on behalf of either party are agency functions that a facilitator is explicitly prohibited from performing.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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