There is less responsibility and liability associated with being a Transaction Broker compared to being an agent. It is our observation that many local brokers choose to represent buyers and sellers as Transaction Brokers. They are a neutral party and have no responsibility to protect your interests, aside from a number of statutory obligations and responsibilities.
They simply assist the buyer and seller in the transaction without any loyalty extended to either party. A Transaction Broker will NOT negotiate on behalf of or act as an advocate for you. A Transaction Broker is not working for you as a client, but works to get the deal to closing. No written agreement required.Ī Transaction Broker cannot act in the buyer’s or the seller’s interests, by law, they work to facilitate the transaction, communicate between both parties, write the contract and attend the closing. A transaction broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction broker concerning a property or a buyer’s financial ability to perform the terms of a transaction and, if a residential property, whether the buyer intends to occupy the property. Transaction Broker: assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting offers and assisting the parties with any contract, including the closing of the transaction without being an agent or advocate for any of the parties. A separate written buyer agency agreement is required which sets forth the duties and obligations of the broker and the buyer. The buyer’s agent must disclose to potential buyers all adverse material facts actually known by the buyer’s agent including the buyer’s financial ability to perform the terms of the transaction and, if a residential property, whether the buyer intends to occupy the property. The agent negotiates on behalf of and acts as an advocate for the buyer. Proper pricing, elegant presentation of properties and our sophisticated marketing is what sets us apart from the rest!īuyer Agent: works solely on behalf of the buyer to promote the interests of the buyer with the utmost faith, loyalty, and fidelity. With an exceptional sales record and unparalleled marketing, combined with exemplary negotiating expertise, you’ll see why so many clients seek us out to represent their best interests. Choosing the right agent to represent YOUR best interests is imperative. This is one of the most important decisions of your life.
Most agents work as a Transaction Broker, which means they facilitate the real estate transaction and are not an advocate for either party. We are Dedicated Buyer Agents! Facts you should know before you make this important decision: The Transaction Broker is not working in your best interest.
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