Minnesota License Law
Under Minnesota Chapter 82, which circumstance would allow a transaction to proceed WITHOUT an agency relationship being established?
AWhen the buyer is also a licensed agent
BWhen a facilitator assists both parties without representing either✓ Correct
CWhen both parties waive agency in writing
DAgency is always required for licensed real estate transactions
Explanation
Minnesota law recognizes the facilitator (transaction broker) role as an alternative to agency. A facilitator assists parties with the transaction without representing either party as a client or owed fiduciary duties. Both parties must be informed of the facilitator arrangement through proper disclosure. This is less common than agency relationships but is a legally recognized option.
Related Minnesota Minnesota License Law Questions
- Which Minnesota state agency is responsible for regulating real estate licensees?
- Under Minnesota law, a salesperson may collect compensation for a real estate transaction:
- What minimum score must a candidate achieve to pass the Minnesota real estate salesperson exam?
- A Minnesota real estate company operating under a trade name must:
- A Minnesota licensee who receives client funds must deposit them into a trust account:
- Minnesota real estate licenses must be renewed every:
- The Minnesota Real Estate License Law requires a broker to maintain transaction records for at least:
- Under Minnesota law, a real estate licensee must maintain errors and omissions (E&O) insurance as a condition of:
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →