8.6. EDSR 01-17-2023 - Laserfiche WebLink

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AGENCY RELATIONSHIPS IN REAL ESTATE TRANSACTIONS 48. Page 2 49. IV. Facilitator: A broker or salesperson who performs services for a Buyer/Tenant, a Seller/Landlord or both but 50. does not represent either in a fiduciary capacity as a Buyer's/Tenant's Broker, Seller's/Landlord's Broker or Dual 51. Agent. THE FACILITATOR BROKER OR SALESPERSON DOES NOT OWE ANY PARTY ANY OFTHE FIDUCIARY 52. DUTIES LISTED BELOW, EXCEPT CONFIDENTIALITY, UNLESS THOSE DUTIES ARE INCLUDED IN A 53. WRITTEN FACILITATOR SERVICES AGREEMENT. The facilitator broker or salesperson owes the duty of 54. confidentiality to the party but owes no other duty to the party except those duties required by law or contained in 55. a written facilitator services agreement, if any. In the event a facilitator broker or salesperson working with a Buyer/ 56. Tenant shows a property listed by the facilitator broker or salesperson, then the facilitator broker or salesperson 57. must act as a Seller's/Landlord's Broker (see paragraph I on page one (1)). In the event a facilitator broker or 58. salesperson, working with a Seller/Landlord, accepts a showing of the property by a Buyer/Tenant being represented 59. by the facilitator broker or salesperson, then the facilitator broker or salesperson must act as a Buyer's/Tenant's 60. Broker (see paragraph II on page one (1)). 61. (') This disclosure is required by law in any transaction involving property occupied or intended to be occupied by 62. one to four families as their residence. 63. (2) The fiduciary duties mentioned above are listed below and have the following meanings: 64. Loyalty - broker/salesperson will act only in client(s)' best interest. 65. Obedience - broker/salesperson will carry out all client(s)' lawful instructions. 66. Disclosure - broker/salesperson will disclose to client(s) all material facts of which broker/salesperson has knowledge 67. which might reasonably affect the client(s)' use and enjoyment of the property. 68. Confidentiality - broker/salesperson will keep client(s)' confidences unless required by law to disclose specific 69. information (such as disclosure of material facts to Buyers). 70. Reasonable Care - broker/salesperson will use reasonable care in performing duties as an agent. 71. Accountinu - broker/salesperson will account to client(s) for all client(s)' money and property received as agent. 72. If Seller(s)/Landlord(s) elect(s) not to agree to a dual agency relationship, Seller(s)/Landlord(s) may give up the 73. opportunity to sell/lease the property to Buyer(s)/Tenant(s) represented by the broker/salesperson. If Buyer(s)/ 74. Tenant(s) elect(s) not to agree to a dual agency relationship, Buyer(s)/Tenant(s) may give up the opportunity to 75. purchase/lease properties listed by the broker. 76. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory offender 77. registry and persons registered with the predatory offender registry under MN Statute 243.166 may be 78. obtained by contacting the local law enforcement offices in the community where the property is located, 79. or the Minnesota Department of Corrections at (651) 361-7200, or from the Department of Corrections Web site at 80. www.corr.state.mn.us. MN:AGMISC-2 (8/19) 1 Minnesota Y� Realtors`° InstanetFoRms