Agency
In Vermont, a 'transaction broker' differs from a buyer's or seller's agent because a transaction broker:
AOwes full fiduciary duties to both parties simultaneously
BAssists both parties with the transaction but does not represent either party as an advocate✓ Correct
CIs licensed only for commercial transactions
DMust always be a licensed attorney
Explanation
A Vermont transaction broker facilitates the real estate transaction by assisting both buyer and seller but does not act as a fiduciary advocate for either party. This differs from a buyer's or seller's agent, who owes fiduciary duties to their respective client.
Related Vermont Agency Questions
- A Vermont licensee who is also a principal in a transaction (buying property for themselves through their own listing) must:
- Vermont's 'undivided loyalty' duty in a buyer's agency means the agent must:
- In Vermont, a seller's agent who learns that a buyer has been pre-approved for a higher loan amount than their offer reflects must:
- When a Vermont listing broker receives an offer significantly below the asking price, the broker must:
- Vermont's real estate brokerage teams must ensure that:
- A Vermont exclusive agency listing differs from an exclusive right to sell in that:
- The duty of 'obedience' in a Vermont agency relationship means the agent must:
- Vermont's 'exclusive buyer's agency' means the buyer's agent:
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →