The broker working with the buyer in writing the Contract to Buy and Sell Real Estate must disclose which of the following?1. The broker is an agent of the buyer2. The broker is a transaction broker3. The broker is an agent of both the buyer and the seller4. The broker is either a Buyer's Agent or a Transaction Broker or a Seller's Agent

Question

Armando

Business

2 August, 06:52

The broker working with the buyer in writing the Contract to Buy and Sell Real Estate must disclose which of the following?1. The broker is an agent of the buyer2. The broker is a transaction broker3. The broker is an agent of both the buyer and the seller4. The broker is either a Buyer's Agent or a Transaction Broker or a Seller's Agent

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Answers (1)

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Everett Hanna · Answer 1

4) The broker is either a Buyer's Agent or a Transaction Broker or a Seller's Agent

Explanation:

I guess that by common sense the buyer should know beforehand if the broker worked for him or not, but it is possible that the buyer doesn't know if the broker is a transaction broker or a seller's agent.

Anyway, it is always best to be completely sure, specially because the broker earns a commission fee and depending on who he/she works for, will be responsible for paying that fee. Also, a seller's agent should always try to get the highest possible price, while the buyer's agent should always try to get the lowest possible price.