Agency
In Minnesota, when a buyer's agent shows a property listed by the same brokerage, the situation that most commonly arises is:
ASubagency
BPotential dual agency, which requires disclosure and consent from both parties✓ Correct
CNo agency conflict because they work for the same brokerage
DAutomatic buyer agency only
Explanation
When a buyer's agent shows a property listed by their own brokerage in Minnesota, dual agency may arise (since the brokerage technically represents both parties). This must be disclosed to both the buyer and seller, and written consent must be obtained before proceeding.
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Key Terms to Know
Dual Agency
A 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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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