Massachusetts License Law
A Massachusetts broker may accept employment as a 'transaction broker' or 'facilitator' in a transaction. This means:
AThe broker represents both parties equally as dual agent
BThe broker assists the parties without representing either as a fiduciary agent✓ Correct
CThe broker represents only the party who pays the commission
DThe broker acts only as a clerical processor
Explanation
A facilitator/transaction broker in Massachusetts provides assistance to both parties (facilitating the transaction) without creating fiduciary duties to either. This requires proper disclosure to both parties.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Buyer's AgentA 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.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
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