Under BRRETA, a transaction broker in Georgia:
Question & Answer
Review the question and all answer choices
Represents the seller only
A transaction broker does not represent the seller only. This describes a traditional seller's agent who owes fiduciary duties including loyalty, obedience, confidentiality, disclosure, accounting, and reasonable care to the seller.
Represents the buyer only
A transaction broker does not represent the buyer only. This would describe a buyer's agent who owes fiduciary duties to the buyer, which is different from the limited role of a transaction broker.
Facilitates the transaction without representing either party
Is prohibited in Georgia
Transaction brokers are not prohibited in Georgia. BRRETA specifically created and defined this role as a legal brokerage relationship within the state's real estate laws.
Why is this correct?
Under BRRETA, a transaction broker facilitates the transaction without representing either party, providing limited services to both. This is Georgia's unique approach that differs from traditional agency relationships where agents owe fiduciary duties to one party.
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