Agency
An Indiana buyer who purchases property through a transaction broker (no agency) should understand that the transaction broker:
AHas full fiduciary duties to the buyer
BWill not advocate for the buyer's best price but owes duties of honesty, skill, and fairness✓ Correct
CHas no duties to the buyer at all
DIs required to reveal the seller's minimum price
Explanation
A transaction broker in Indiana owes duties of honesty, fairness, and reasonable skill to both parties but does not owe fiduciary duties — meaning they will not negotiate exclusively for the buyer's best price or maintain buyer confidentiality.
Related Indiana Agency Questions
- In Indiana, subagency refers to:
- When must an Indiana licensee update their agency disclosure if the agency relationship changes (e.g., from single agent to dual agent)?
- An Indiana broker who learns that their buyer client is willing to pay $30,000 over the asking price should:
- An Indiana seller's agent who receives a written offer from an unrepresented buyer must:
- A buyer's agent in Indiana who also receives a referral fee from a home inspector they recommended to their buyer client must:
- In Indiana, an exclusive buyer agency agreement means the buyer:
- Indiana's Non-Agency Brokerage (transaction broker) relationship was created to allow brokers to:
- In Indiana, when must a licensee provide agency disclosure to a prospective buyer or seller?
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →