Asked by Danela Maceda on Jun 24, 2024
Verified
In most states, a broker cannot act as an agent for both buyer and seller unless both parties consent.
Broker
An individual or firm that acts as an intermediary between buyers and sellers, typically in financial transactions, real estate, or investment deals.
Agent
represents a person authorized to act on behalf of another, known as the principal, in dealings with third parties, typically in commercial transactions or contractual agreements.
Buyer And Seller
Represents the two primary parties involved in a transaction, where the buyer acquires goods, services, or assets from the seller in exchange for money or other compensation.
- Recognize the legal and ethical considerations in real estate transactions, including the roles and obligations of brokers.
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Learning Objectives
- Recognize the legal and ethical considerations in real estate transactions, including the roles and obligations of brokers.
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