Agency
In Minnesota, a buyer's agent who is paid by the seller through the cooperative compensation (cooperating broker commission) is:
AAutomatically a subagent of the seller
BStill representing the buyer's interests exclusively as a buyer's agent, despite receiving compensation through the seller✓ Correct
CA dual agent because the seller is paying them
DRequired to refund the commission to the buyer
Explanation
The source of compensation does not determine agency in Minnesota. A buyer's agent who is paid through a cooperative commission from the seller is still exclusively representing the buyer.
Related Minnesota Agency Questions
- In Minnesota, a transaction broker (facilitator) owes which of the following duties?
- Minnesota's Disclosure of Agency Act requires licensees to disclose agency relationships:
- In Minnesota, if a buyer's agent realizes mid-transaction that they also represent the seller of a property the buyer wants to purchase, what should they do?
- In Minnesota, an agent who receives an offer on a listed property must present the offer to the seller:
- A Minnesota seller terminates a listing agreement before the expiration date because they want to list with another broker. The seller may owe:
- A Minnesota listing agent who discovers the buyer plans to develop the property commercially should:
- A Minnesota listing agent writes an offer on behalf of a buyer for a property the agent has listed. Without proper disclosure and consent, this creates:
- In Minnesota, a seller's agent must disclose the existence of competing offers to a buyer if:
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →