Agency
In South Carolina, a real estate licensee acting as a transaction broker:
ARepresents both buyer and seller equally as a dual agent
BFacilitates the transaction without representing either party as a fiduciary✓ Correct
CIs prohibited under SC law
DCan only represent the buyer
Explanation
A transaction broker (also called a facilitator) assists with paperwork and process but does not represent either party as a fiduciary. This differs from dual agency.
Related South Carolina Agency Questions
- South Carolina law requires written agency disclosure to be provided to a prospective buyer or seller:
- A South Carolina buyer's agent has a duty to keep which information confidential?
- Which document in South Carolina formalizes the relationship between a buyer and their real estate agent?
- In South Carolina, what is 'estoppel by representation' in agency?
- A South Carolina seller instructs their agent not to disclose that the property is in a flood zone. The agent should:
- In South Carolina, an agent owes which of the following duties to all parties in a transaction, regardless of who they represent?
- In South Carolina, which fiduciary duty requires a licensee to put the client's interests above their own?
- In South Carolina, which of the following best describes 'implied agency'?
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