Agency
Under Nebraska law, a transaction broker (facilitator) owes parties in a transaction:
AFull fiduciary duties to both buyer and seller
BHonesty, reasonable care, and disclosure of material facts, but not full fiduciary duties✓ Correct
CNo duties whatsoever to either party
DFiduciary duties only to the party who pays the commission
Explanation
A transaction broker in Nebraska owes limited duties to both parties — including honesty, reasonable care, and disclosure of material facts — but does not owe the full fiduciary duties owed by an agent.
People Also Study
Related Nebraska Questions
- In Nebraska, a buyer's agent owes which of the following duties to the buyer?Agency
- The Nebraska agency disclosure form must be provided to all parties and signed to acknowledge:Agency
- A Nebraska real estate licensee's duty to disclose material facts applies when:Nebraska License Law
- Nebraska law requires that after the Seller's Property Condition Disclosure Statement is signed and delivered to the buyer, any material change in the property's condition must be:Contracts
- A Nebraska real estate agent acting as a transaction broker owes the parties:Agency
- In Nebraska, a licensee must provide the 'Disclosure of Brokerage Relationships' form:Agency
Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Math Concepts
Study This Topic
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →