Agency
Which of the following best describes a transaction broker in Indiana?
AAn agent who represents only the buyer
BAn agent who represents only the seller
CA broker who assists both parties without representing either as a fiduciary✓ Correct
DA broker who is licensed in multiple states
Explanation
A transaction broker facilitates the transaction and provides limited services to both parties without owing full fiduciary duties to either side.
People Also Study
Related Indiana Questions
- Indiana's agency law recognizes which non-traditional agency relationship that allows a licensee to provide limited services without full representation?Agency
- A buyer's agent in Indiana owes which fiduciary duties to the buyer?Agency
- An Indiana sub-agent owes fiduciary duties to:Agency
- Indiana farmland held in an LLC (limited liability company) provides the farmer with:Property Ownership
- An Indiana real estate licensee who provides a buyer with inaccurate information from a third party (such as a measurement from an old MLS listing) without verification may be liable for:Indiana License Law
- Indiana's fiduciary duties in an agency relationship originate from which legal principle?Agency
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.
Study This Topic
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →