What is the role of a transaction broker?

The role of a transaction broker is to act as a neutral intermediary in a real estate transaction, facilitating the process without holding fiduciary duties to either party involved. This means that while a transaction broker assists in the transaction by providing necessary disclosures, guidance, and coordination, they do not represent either the buyer or the seller exclusively. Instead, their primary responsibility is to help both parties in reaching a mutual agreement, ensuring a smooth transaction flow while maintaining neutrality.

Being a mediator without fiduciary duties allows transaction brokers to maintain a balanced role, ensuring that both parties feel supported without the complexities of representation that might otherwise lead to conflicts of interest. This contrasts with traditional brokerage roles, where a broker may represent one party and owe them specific duties, such as loyalty and advocacy. The focus as a transaction broker is more on facilitating the transaction itself rather than advocating for one side over the other.