A Minnesota licensed salesperson, Angela, is representing a seller. During negotiations, Angela tells the buyer that the seller has received two other offers when, in fact, no other offers exist. The buyer increases their offer price based on this false information. Under Minnesota Statutes Chapter 82, Angela's conduct most likely constitutes:
Correct Answer
B) Misrepresentation or fraudulent conduct, which is a ground for license suspension or revocation under Ch. 82
Under Minn. Stat. Ch. 82, making a false statement of material fact — such as falsely claiming the existence of competing offers — constitutes misrepresentation or fraudulent conduct. This is an enumerated ground for license suspension or revocation. The MN DOC can impose disciplinary action regardless of whether the misrepresentation ultimately harmed the buyer financially.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
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