What is a transaction broker?

A transaction broker is a type of real estate agent who assists both the buyer and seller in a real estate transaction without representing either party. Instead, the transaction broker facilitates the transaction by coordinating the various aspects of the sale, such as negotiations, paperwork, and communicating between the parties.

Transaction brokers do not owe fiduciary duties to either party, meaning they do not have a legal obligation to act in the best interests of either the buyer or seller. Instead, they are neutral facilitators who aim to help both parties reach a successful agreement.

In some states, transaction brokers are required to disclose their role to both parties and obtain their consent to act as a neutral intermediary. This helps ensure transparency and clear communication throughout the transaction process.

Overall, a transaction broker can provide valuable assistance in a real estate transaction by helping to streamline the process and ensure that both parties are well-informed and have their interests represented.