Agency
A Utah transaction broker is:
AAn agent who represents only the transaction itself
BNot recognized under Utah law; Utah only recognizes seller's agents, buyer's agents, and limited agents✓ Correct
CAn agent who assists both parties without representing either as a fiduciary
DA licensed broker who mediates all transactions
Explanation
Utah does not use the term 'transaction broker' in the same way some states do. Utah recognizes seller's agents, buyer's agents, and limited agents (dual agents). There is no non-agency transaction broker status in Utah's agency framework.
Related Utah Agency Questions
- In Utah, a 'limited agent' for purposes of the agency disclosure is:
- A Utah seller's listing agent who receives a full-price offer must:
- Vicarious liability means a principal broker in Utah may be liable for:
- A buyer's agent in Utah owes which of the following duties to the seller?
- In Utah, the agency disclosure form must be provided:
- The duty of 'disclosure' in a Utah agency relationship requires an agent to:
- When a Utah listing agent discovers that a buyer is represented by another agent at the same brokerage, the situation creates:
- If a Utah buyer cancels a contract within the due diligence period, what must the buyer's agent do with the earnest money?
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