Q: Arbitration – How would a dispute between a seller and a buyer affect their REALTOR?

A: Most arbitration disputes which result from undisclosed property issues are between the buyer and the seller. However, in a few occasions, REALTORS® have been named in the claim because the buyer alleged that the agent(s) either misrepresented material facts relating to the property or remained silent on a material fact, which by law and the Code of Ethics is required to be disclosed by the REALTOR®, if they have any knowledge.

For more real estate questions and answers visit the Desktop Reference Guide!

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry. 

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