A New Mexico licensee acting as a facilitator (sometimes referred to in education materials as a transaction broker):
Correct Answer
B) Assists both parties without representing either as a client
New Mexico law under NMAC 16.61.19 recognizes a facilitator role in which a licensee assists both the buyer and seller in completing a transaction without representing either party as a client. This role is sometimes called a 'transaction broker' in real estate education materials. Unlike a dual agent, a facilitator does not owe full fiduciary duties to either party, but still owes all parties honesty, fair dealing, and disclosure of material facts.
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Agency Question
Background Knowledge for Agency
Real World Application in Agency
Common Mistakes to Avoid on Agency Questions
Related Topics & Key Terms
Related Topics:
Key Terms:
More Agency Questions
Under agency law in Nevada, dual agency is:
A South Dakota agent who represents a buyer learns that the seller is facing foreclosure. The agent should:
Oregon broker Olivia is working with buyer couple Derek and Sarah. During their first meeting, Derek and Sarah ask Olivia who she represents in the transaction. Under Oregon law, when is Olivia required to provide a written agency disclosure to Derek and Sarah?
Missouri continuing education (CE) requirements for license renewal include:
A Louisiana salesperson asks about a person engages professional advice and services of a licensee as an agent. What is the best answer?
- → How is implied agency most commonly created?
- → A listing broker owes fiduciary duties to which party?
- → Information about the lowest price a seller will accept is:
- → A buyer's agent in New York owes the seller:
- → The Wisconsin exclusive right-to-sell listing agreement guarantees:
- → When a licensed real estate agent wishes to purchase a property listed with their brokerage for their own account, what must they do?
- → Oregon broker James lists a home for sellers Greg and Helen. After the listing agreement is signed, buyer Natalie contacts James directly and says she wants to make an offer on the property without using her own agent. James would like to enter into a disclosed limited agency arrangement. Which of the following actions is required before James can legally proceed as a disclosed limited agent?
- → Utah recognizes which agency relationships?
- → Agency terminates by all of the following EXCEPT:
- → New Jersey continuing education requirements include:
People Also Study
Buyer Representation Agreement
8% of exam
Property Ownership
10% of exam
Land Use Controls and Regulations
8% of exam
Valuation and Market Analysis
10% of exam