In Hawaii, a real estate licensee who works with a buyer but does not represent the buyer and owes no fiduciary duties to the buyer is best described as acting in which capacity?
Correct Answer
D) Transaction broker
A transaction broker (also referred to as a non-agent or facilitator in some contexts) assists a party in a transaction without representing that party or owing fiduciary duties to them. Under Hawaii Administrative Rules Title 16, Chapter 99, licensees must disclose the nature of their relationship to consumers, and a transaction broker relationship is a recognized non-agency capacity in Hawaii.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
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