Under the Kansas BRRETA, a transaction broker owes certain statutory duties to both the buyer and the seller. Which of the following is NOT a duty owed by a Kansas transaction broker?
Correct Answer
D) Promoting the financial interests of the seller above those of the buyer
Under K.S.A. 58-30,104, a transaction broker does NOT owe a duty to promote the financial interests of either party. Transaction brokers are neutral facilitators and must not advocate for one party over the other. Promoting the seller's financial interests above the buyer's is a duty owed by a seller's agent, not a transaction broker.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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