Agency
In Missouri, a transaction broker relationship means the licensee:
AFully represents both buyer and seller
BFacilitates the transaction without representing either party as a fiduciary✓ Correct
CRepresents only the seller
DHas no duties to either party
Explanation
A transaction broker in Missouri facilitates the transaction and provides assistance to both parties but does not owe full fiduciary duties to either. They must still act honestly and disclose material facts.
Related Missouri Agency Questions
- In Missouri, a real estate licensee who is also a party to a transaction (buying or selling their own property) must:
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- Which of the following best describes the duty of 'loyalty' owed by a Missouri buyer's agent?
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- 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:
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