What does the term 'transaction broker' mean in real estate?
A transaction broker in U.S. real estate is a neutral third party facilitating a deal without representing the buyer or seller. Unlike traditional agents, they do not advocate for one side but assist with paperwork, contracts, and legal compliance while ensuring fairness.
They provide limited duties, such as facilitating communication but not negotiating, and have no fiduciary duty to either party. Legal in states like Florida, Colorado, and Kansas, transaction brokers offer a less adversarial, smoother transaction but may not provide personalized advice or advocacy. They are ideal for buyers and sellers who already have deals and need help closing.
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