A real estate broker who participates in a transaction in a neutral, non-agency facilitating role is often called a:
Why Transaction broker or facilitator Is Correct
Answer B: Transaction broker or facilitator
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
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- An agency relationship created without explicit agreement but implied by the actions of the parties is called:Agency
- An agent accidentally creates an agency through their conduct without a written agreement. This is called:Agency
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Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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