Agency
In Idaho, what is a 'transaction coordinator' and what are they NOT allowed to do?
AA licensed broker who handles all aspects of a transaction
BA person who manages administrative tasks in a transaction but who may not provide advice, opinions, or represent either party unless licensed✓ Correct
CAn escrow officer who closes transactions
DA IREC-appointed mediator for disputes
Explanation
Transaction coordinators manage administrative processes (scheduling inspections, collecting signatures, tracking deadlines) but must not provide legal advice, negotiate terms, or represent parties' interests unless properly licensed. Unlicensed transaction coordinators who cross into licensed activities violate Idaho license law.
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Key Terms to Know
Escrow
A neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
AgencyA 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.
State-Specific Concepts
License Law
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