Agency
In Minnesota, a 'facilitator' in a real estate transaction is an agent who:
ARepresents only the seller
BRepresents both buyer and seller equally
CAssists both parties without representing either as a fiduciary✓ Correct
DRepresents the lender's interests
Explanation
A Minnesota facilitator provides limited brokerage services, assisting both parties without acting as a fiduciary for either. No loyalty or confidentiality duties are owed.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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