Agency
Under Nebraska agency law, when a licensee acts as a transaction broker, the licensee:
ARepresents only the seller in the transaction
BProvides services to both parties without acting as an agent for either✓ Correct
CHas the same fiduciary duties as a buyer's agent
DIs prohibited from providing any advice to either party
Explanation
A transaction broker (also called a facilitator) assists both parties in completing the transaction without representing either as an agent, meaning full fiduciary duties do not apply.
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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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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