A broker who acts as an Transaction Broker in a transaction does not represent either party. He may not do anything that would give any party to the transaction an advantage over any other party. Extremely limited in services he can offer to either party. Also know as Facilitator, Intermediary, Mediator, or Non-Agent. Also see Dual Agency, Non-Agent and Exclusive Agency. Caution: This form of agency offers a reduced level of service and should never be considered unless you are very knowledgeable about real estate.
A brokerage firm which works with both parties in an effort to arrive at an agreement on the sale or rental of real estate and facilitates the closing of a transaction but doe not have an agency relationship with either of the parties.
An agent that provides a limited form of representation that includes: dealing honestly, accounting for all funds, disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer, and limited confidentiality. Florida law requires transactional real estate brokers provide written notice to be signed by potential buyers and sellers.
a deal maker without being an agent or advocate for any of the parties involved, and owes few duties to either the buyer or the seller
A real estate professional who is hired to help a buyer and seller reach an agreement. The transaction broker does not represent either the buyer or the seller.
Real estate agent who has allegiance to neither the buyer nor the seller, but who serves as a facilitator for putting together a deal.
It is presumed that all real estate licensees operate as a transaction broker unless a single agency or no brokerage relationship is established in writing. A transaction broker is required to deal honestly and fairly, to disclose all known facts that materially affect the value of real property, to account for all funds, to use skill , care, and diligence in the transaction, to present all offers and counteroffers in a timely manner, and to not disclose any terms, conditions, or factors told to the broker in confidence.
A real estate profession who does not represent either the buyer or the seller but is hired to help them reach an agreement.
A transaction broker (also referred to as a nonagent, facilitator, coordinator or contract broker) is not an agent of either party. A transactional broker's job is simply to help both the buyer and the seller with the necessary paperwork and formalities involved in transferring ownership of real property. The buyer and the seller negotiate the sale without representation.
A real estate professional who is hired to assist a buyer, seller or both in a real estate transaction. The transaction broker does not represent or advocate the interest of either party, but is responsible to protect the confidences of both parties, exercise reasonable skill and care, present all offers in a timely manner, keep the parties fully informed, account for all money and property received, assist the parties in complying with the terms and conditions of the contract, disclose to each party of the transaction any adverse material facts known and suggest that the parties obtain expert advice. The transaction broker shall not disclose any personal information or motivating factors of any party to the transaction.