Under state law, what is a 'transaction broker' (or transaction agent), where this relationship is recognized?

TRANSACTION BROKER (transaction agent / facilitator): In states that recognize this relationship, a transaction broker FACILITATES a real estate transaction WITHOUT representing either party as a fiduciary agent.

Characteristics: Provides services to help the transaction close (paperwork, coordination, factual information) but does NOT owe the full FIDUCIARY DUTIES (loyalty, full advocacy) to either party; treats both parties honestly and fairly; maintains limited confidentiality as defined by state law; does not advocate for one party against the other.

Contrast with agency: A buyer's or seller's AGENT owes full fiduciary duties (OLD CAR: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable care) to their principal; a DUAL AGENT represents both (with consent) but with limited ability to advocate; a TRANSACTION BROKER represents NEITHER as an agent — a non-agency relationship.

State-specific: Not all states recognize transaction brokerage; where recognized, it's an alternative to traditional agency that avoids the conflicts of dual agency; the transaction broker concept (facilitating without fiduciary agency) is important state agency law where applicable — it's a non-agency relationship distinct from buyer/seller/dual agency.