Agency
In Pennsylvania, 'transaction licensee' status means the licensee:
ARepresents only the buyer in the transaction
BRepresents only the seller in the transaction
CProvides services to a consumer without representing that consumer as a client✓ Correct
DHandles administrative duties only and cannot negotiate
Explanation
A transaction licensee provides real estate services (such as showing properties or writing offers) without establishing an agency relationship. The transaction licensee does not represent the consumer as a client and owes limited duties rather than full fiduciary duties.
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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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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