Agency
Which of the following best describes a transaction broker in Missouri?
AAn agent who represents only the buyer
BAn agent who represents only the seller
CA licensee who facilitates the transaction without representing either party as a fiduciary✓ Correct
DAn agent who represents both parties as a fiduciary
Explanation
A transaction broker (also called a facilitator in some states) assists both parties without representing either as a fiduciary agent. Missouri allows this non-agency facilitation role.
Related Missouri Agency Questions
- The fiduciary duty of 'accounting' in a Missouri agency relationship requires the agent to:
- When a Missouri buyer's agent also represents the seller in the same transaction, the agent must disclose this to:
- An exclusive agency listing in Missouri differs from an exclusive right-to-sell because:
- An agent's authority to perform all acts necessary to manage a client's property is called:
- Missouri's agency disclosure law requires a licensee to provide a written disclosure:
- In Missouri, an agent who receives a gift from a buyer or seller in a transaction without the other client's knowledge may have violated:
- Under Missouri law, a buyer's agent who locates a property for a buyer earns compensation:
- In Missouri, a listing agent who discovers during a showing that there is a material defect (e.g., foundation crack) not previously known has a duty to:
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