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Transaction Broker Agreement (Non-agency Agreeement) - South Carolina
Transaction Broker Agreement (Non-agency Agreeement) is a legal document that was released by the South Carolina Department of Labor, Licensing and Regulation - a government authority operating within South Carolina.
FAQ
Q: What is a Transaction Broker Agreement?
A: A Transaction Broker Agreement is a type of non-agency agreement that is used in real estate transactions.
Q: What is a non-agency agreement?
A: A non-agency agreement is a legal agreement in which a real estate agent does not act as an agent for either the buyer or the seller, but instead acts as a neutral facilitator of the transaction.
Q: What is the purpose of a Transaction Broker Agreement?
A: The purpose of a Transaction Broker Agreement is to establish the role of the real estate agent as a neutral facilitator who does not represent either party in the transaction.
Q: Is a Transaction Broker Agreement binding?
A: Yes, a Transaction Broker Agreement is a legally binding agreement between the real estate agent and the buyer or seller.
Q: What are the responsibilities of a transaction broker?
A: A transaction broker is responsible for assisting the buyer and seller in the transaction, but does not owe fiduciary duties to either party.
Q: Does a transaction broker provide advice or advocacy?
A: No, a transaction broker does not provide advice or advocacy to either the buyer or the seller. They remain neutral throughout the transaction.
Q: Can a transaction broker disclose confidential information?
A: No, a transaction broker cannot disclose confidential information shared by either party without their permission.
Q: Are there any limitations to a transaction broker's services?
A: Yes, a transaction broker's services are limited to facilitating the transaction and cannot include providing legal or financial advice.
Q: Is a Transaction Broker Agreement required in South Carolina?
A: Yes, a Transaction Broker Agreement is required by law in South Carolina for non-agency relationships in real estate transactions.
Form Details:
- The latest edition currently provided by the South Carolina Department of Labor, Licensing and Regulation;
- Ready to use and print;
- Easy to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of the form by clicking the link below or browse more documents and templates provided by the South Carolina Department of Labor, Licensing and Regulation.
Download Transaction Broker Agreement (Non-agency Agreeement) - South Carolina
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