Agency
Under Minnesota law, a seller's agent may share the seller's marketing strategy with the buyer's agent if:
AThe listing agent believes it will speed up the sale
BThe seller has given explicit written consent to share that information✓ Correct
CIt is common knowledge in the market
DThe listing price is already public
Explanation
A seller's agent owes confidentiality to the seller. Marketing strategy (such as minimum acceptable price or timeline urgency) is confidential and may only be shared if the seller has given explicit written authorization.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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.
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