Agency
When a Georgia broker acts as a transaction broker, the broker's role is:
AA. To represent only the seller
BB. To facilitate the transaction without representing either party✓ Correct
CC. To represent both parties equally
DD. To act as a subagent of the listing broker
Explanation
A transaction broker in Georgia facilitates the transaction without representing either party. This is a non-agency relationship where the broker assists but does not advocate for either side.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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