Definitions for "Transaction broker"
A broker who acts as an Transaction Broker in a transaction does not represent either party. He may not do anything that would give any party to the transaction an advantage over any other party. Extremely limited in services he can offer to either party. Also know as Facilitator, Intermediary, Mediator, or Non-Agent. Also see Dual Agency, Non-Agent and Exclusive Agency. Caution: This form of agency offers a reduced level of service and should never be considered unless you are very knowledgeable about real estate.
A brokerage firm which works with both parties in an effort to arrive at an agreement on the sale or rental of real estate and facilitates the closing of a transaction but doe not have an agency relationship with either of the parties.
An agent that provides a limited form of representation that includes: dealing honestly, accounting for all funds, disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer, and limited confidentiality. Florida law requires transactional real estate brokers provide written notice to be signed by potential buyers and sellers.