Agency
An agent who represents neither party but assists both parties in completing a transaction is known as a:
ADual agent
BSub-agent
CTransaction broker or facilitator✓ Correct
DDesignated agent
Explanation
A transaction broker (also called a facilitator or limited agent) assists both parties in completing the transaction without representing either party as a fiduciary.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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.
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