Agency
What is a 'transaction broker' (non-agent facilitator) and is this recognized in Hawaii?
AA. A broker who handles only cash transactions
BB. A limited form of representation where the licensee assists both parties but owes reduced fiduciary duties; Hawaii recognizes transactional brokerage in some contexts✓ Correct
CC. A broker who works exclusively on commercial transactions
DD. An escrow officer facilitating the closing process
Explanation
A transaction broker (also called a non-agent facilitator or transactional broker) assists both parties in completing a transaction without representing either party as a fiduciary. Hawaii's agency law has evolved to address various levels of representation. Licensees must disclose the nature of their representation relationship to clients.
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