Agency
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?
AContinue the transaction without disclosure
BDisclose the conflict to both parties immediately and obtain written consent for dual agency or withdraw from representing one party✓ Correct
COnly disclose to the buyer
DOnly disclose to the seller
Explanation
When dual agency arises mid-transaction in Minnesota, the agent must immediately disclose the conflict to both parties. Both must provide written consent to proceed with dual agency, or the agent must withdraw from representing one of the parties. Failure to disclose and obtain consent is illegal in Minnesota.
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