Agency
A Minnesota agent is asked by a prospective client whether they can guarantee a sale within 60 days. The agent should:
AMake the guarantee to secure the listing
BState they cannot guarantee a sale timeline but explain what they can control (marketing, pricing, etc.)✓ Correct
CGuarantee it only if the seller agrees to a below-market listing price
DMake the guarantee in writing to create a binding commitment
Explanation
Minnesota agents cannot guarantee specific outcomes like sale timing or price - these depend on market conditions outside their control. Making such guarantees could constitute fraud or misrepresentation. Agents should explain what they can commit to (marketing efforts, expertise, availability) while being honest about factors they cannot control. Agents have a duty of honesty to prospective clients.
Related Minnesota Agency Questions
- A Minnesota real estate agent discovers that a property they are showing has a serious structural defect known to the seller but not disclosed. The agent is:
- In Minnesota, a facilitator (transaction broker) has which duty to the parties in a real estate transaction?
- A Minnesota buyer's agent is showing a property when they discover a listing price error in the MLS that has the price significantly lower than the seller's actual intention. The agent should:
- Under Minnesota law, which party has the primary responsibility for ensuring proper agency disclosure is made?
- Under Minnesota's agency law, a listing agent's duty of 'reasonable care' includes which of the following?
- A Minnesota listing agent learns their seller is going through a divorce and must sell quickly. This information is:
- Under Minnesota law, when does a buyer representation agreement typically terminate?
- A Minnesota property owner hires a listing agent but decides to sell the property themselves while the listing is active. If the seller finds a buyer, who earns a commission under an exclusive agency listing?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →