Tell me about Transaction Brokers?

Asked by Lee Sappingfield, Olathe, KS Tue Jul 30, 2013

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Shelly Christ, Agent, Overland Park, KS
Tue Jul 30, 2013
"Transaction broker" means a broker who assists one or more parties with a real estate transaction without being an agent or advocate for the interests of ANY party to such transaction. The broker is basically just assisting in facilitating the sale/transaction. Hope this helps. Regards, Shelly Christ
1 vote
Ken Schmidt, Agent, Lawrence, KS
Wed Jan 22, 2014
Shelly and Christopher provided two very good explanations. You may also research the Kansas Brokerage Relationships in Real Estate Transactions Act, commonly referred to as BRRETA on the Kansas Real Estate Commission's website: http://www.kansas.gov/krec/brretact.html Specifically, a, "broker engaged as a transaction broker is not an agent for either party."

In easier terms, and as previously mentioned, a transaction broker performs administration duties and does not represent either party. A transaction broker is required BY LAW to remain neutral and is prohibited from providing information and acting as an agent for either side. They may provide or facilitate the completion of forms but cannot interpret the information. This may only be performed by an agent or within the confines of an agency agreement. Good luck!
0 votes
Christopher…, Agent, New Cumberland, PA
Tue Jul 30, 2013
If you are refering to a transaction licensee they will put your home on the MLS with all info provided for a flat fee if you are offering a buyers agent commission. You will then handle all phone calls and showings. Hope this helps and best of luck to you.
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