Agency
A buyer's agent in Minnesota who is showing a property listed by a different brokerage is an example of:
ADual agency
BCooperative agency (buyer's agent cooperating with the listing brokerage)✓ Correct
CDesignated agency
DFacilitator arrangement
Explanation
When a buyer's agent from Brokerage A shows a property listed by Brokerage B, this is a cooperative agency arrangement. The buyer's agent represents the buyer; the listing agent represents the seller. Each agent owes fiduciary duties exclusively to their own client. This is NOT dual agency.
Related Minnesota Agency Questions
- In Minnesota, a seller's agent must disclose the existence of competing offers to a buyer if:
- A Minnesota listing agent receives an offer 30% below list price. Before presenting it to the seller, the agent can:
- A Minnesota listing agent has a property listed at $325,000. The seller tells the agent they would accept $305,000. Under the agent's fiduciary duty, this information:
- The duty of 'accounting' in a Minnesota agency relationship requires the agent to:
- A Minnesota real estate team consists of a team leader (licensed broker-associate) and two buyer's agents. When a buyer signs with the team, who is the representing agent?
- A Minnesota real estate agent represents a seller who is willing to accept seller financing. The agent should advise the seller to:
- Under Minnesota law, what is the consequence if an agent fails to disclose their agency relationship at the first substantive contact?
- A Minnesota listing agent is also working as a buyer's agent in a different transaction. The agent learns information in the buyer's agency role that would benefit their seller client. The agent:
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →