Agency
In Minnesota, which of the following must a licensee disclose to a buyer even if they represent the seller?
AThe seller's minimum acceptable price
BThe existence of competing offers
CAny known material defects in the property✓ Correct
DThe seller's financial situation
Explanation
Even when representing the seller, a Minnesota licensee must disclose known material defects to buyers. This is required by Minnesota law and ethical standards. Material defect disclosure is a duty owed to the public regardless of agency relationship. However, confidential seller information such as minimum price is not disclosed.
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