Definition Of Transaction Broker - Redfin

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Talk to a Redfin AgentReal Estate GlossaryWhat is a transaction broker?

Definition of Transaction Broker

A transaction broker does not represent the buyer or seller, but instead acts as a neutral resource to help both parties complete a home sale. For example, in Colorado, a transaction broker is the default role of an agent when there is no signed agency agreement between the agent and the buyer. If a buyer desires a traditional agent that has a duty to act in the best interest of the buyer, he or she must sign a written agency agreement with the agent.

A transaction broker is not considered a dual agent; dual agency involves an agent or broker who represents both parties simultaneously. A transaction broker does not represent either party.

Note: When you work with Redfin, we will usually advise you to work with our agent as a buyer's agent, instead of as a transaction broker. We believe you get better service when you have an agent working exclusively on your behalf, since your agent is empowered to negotiate with the seller to get you a better deal.

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