Agency
A transaction broker (facilitator) in Indiana provides:
AFull fiduciary representation for the buyer only
BLimited representation without fiduciary duties to either party✓ Correct
CFull fiduciary representation for both buyer and seller
DNo representation at all
Explanation
A transaction broker provides limited real estate services without acting as a fiduciary for either party. They assist with the transaction without advocating exclusively for buyer or seller.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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.
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