In South Dakota, a transaction broker:
Correct Answer
C) Facilitates the transaction without representing either party
A transaction broker (also called a facilitator) assists both parties in a real estate transaction without representing either party. The transaction broker owes limited duties to both parties, such as honesty and fair dealing, but does not owe full fiduciary duties.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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