A 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 is not working for you as a client, but works to get the deal to closing. A Transaction Broker will NOT negotiate on behalf of or act as an advocate for you. They simply assist the buyer and seller in the transaction without any loyalty extended to either party. They are a neutral party and have no responsibility to protect your interests, aside from a number of statutory obligations and responsibilities.
It is our observation that many local brokers choose to represent buyers and sellers as Transaction Brokers. There is less responsibility and liability associated with being a Transaction Broker compared to being an agent. It generally takes more time and work to properly represent a client as an agent.
