Agency
In Oregon, what is the difference between a 'transaction broker' and a 'buyer's agent'?
ATransaction brokers represent sellers only; buyer's agents represent buyers only
BTransaction brokers facilitate the transaction without representing either party; buyer's agents represent the buyer✓ Correct
CTransaction brokers are licensed differently than buyer's agents
DThere is no legal distinction in Oregon
Explanation
A buyer's agent owes fiduciary duties exclusively to the buyer. A transaction broker (also called a 'facilitator' or 'non-agent' in some contexts) assists both parties in completing the transaction without representing either side as an advocate.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate 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.
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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