What is the role of a broker who helps both parties reach an agreement without being in an agency relationship?

The role of a broker who assists both parties in reaching an agreement without establishing an agency relationship is referred to as a transaction broker. This type of broker facilitates the transaction by providing necessary information and assistance while maintaining a neutral stance, ensuring that neither party is represented at a fiduciary level.

In this capacity, the transaction broker does not advocate for either side; instead, they help navigate the process, ensuring that both the buyer and seller understand the terms and conditions. This approach contrasts with an agency relationship, where one party represents another with specific duties and obligations.

Other roles, like a listing agent or buyer's agent, involve representation, where one party's best interests are prioritized. A dual agent represents both the buyer and the seller, which can create complexities and potential conflicts of interest. In this context, the transaction broker model is particularly valuable as it promotes a smoother transaction process without the complications of agency representation.