Tennessee Realtor State Practice Exam

What is another term for a facilitator in real estate transactions?

1. Listing agent

2. Transactional representative

3. Transaction broker

4. Negotiation specialist

The correct answer is: Transaction broker

A facilitator in real estate transactions is often referred to as a transaction broker. This term represents a professional who helps facilitate a real estate transaction between the buyer and the seller without representing either party in a fiduciary capacity. The transaction broker's role is to assist both parties by providing necessary documentation and information, negotiating terms, and ensuring that all legal requirements are met while maintaining a neutral position. In contrast, a listing agent represents the seller, and their fiduciary duty is solely to that party, which is distinct from the neutral role of a transaction broker. A transactional representative might imply an individual working within a broader context, but is not specifically recognized in the same way as a transaction broker in this context. The term negotiation specialist suggests an expertise in negotiation but does not specify a role within real estate transactions akin to that of a facilitator. Thus, the correct term that aligns with the role of a facilitator is indeed the transaction broker.