Agency
In New Jersey, transaction brokerage (non-agency) allows a licensee to assist both parties in a transaction while:
AMaintaining full fiduciary duties to both buyer and seller
BFacilitating the transaction without representing either party as a fiduciary agent✓ Correct
CCollecting double commission automatically
DDisclosing all confidential information to both parties
Explanation
In a transaction brokerage (non-agency) arrangement, the licensee assists both parties in completing the transaction but does not owe fiduciary duties to either. The licensee must still be honest, competent, and disclose material facts about the property.
Related New Jersey Agency Questions
- A New Jersey licensee who represents the seller must disclose to buyers:
- Puffing in real estate advertising is:
- An agent who reveals the seller's bottom-line price to the buyer without authorization is guilty of:
- When a buyer's agent discovers a material defect about the property during a showing, they should:
- Which of the following best describes ostensible agency?
- A cooperating broker in a MLS transaction typically acts as a:
- A NJ seller's agent who learns during a showing that the buyer is under extreme financial pressure to relocate quickly must:
- In New Jersey, a buyer's agent who negotiates the lowest possible price for their buyer client is fulfilling the duty of:
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