What does a transaction broker's role entail in relation to the buyer and seller?

A transaction broker provides limited representation to both the buyer and the seller in a real estate transaction. This means that the broker assists both parties without advocating for either side's interests specifically. The transaction broker's role typically involves facilitating communication, helping with paperwork, and guiding the transaction process while maintaining neutrality.

This limited representation differs from full representation, where an agent would advocate exclusively for one party, and from simply providing documentation assistance, as the transaction broker does more than just handle forms. Although negotiation of terms is part of the process, the transaction broker does not represent either party in negotiation with a vested interest. Hence, limited representation accurately captures the nature of a transaction broker's duties and responsibilities.