A transaction broker in Arizona:

Option A is incorrect because a transaction broker does not represent the seller. That would be a traditional seller's agent relationship with fiduciary duties. Transaction brokerage specifically avoids this agency relationship, making the broker a neutral facilitator rather than an advocate for either party.

Option B is incorrect because a transaction broker does not represent the buyer. That would be a traditional buyer's agency relationship. Transaction brokerage is defined by its lack of representation for either party, distinguishing it from both buyer and seller agency relationships.

Option D is incorrect because Arizona does recognize transaction brokerage as a valid relationship in real estate transactions. This is specifically addressed in Arizona's real estate licensing laws and regulations, which provide the legal framework for this non-agency approach.