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Marsha Martin, ABR, GRI Licensed Real Estate Broker

Orchid Realty
300 3rd Street, Office B
Ocean City, NJ 08226

Mailing Address:
Orchid Realty
P.O. Box 462
Ocean City, NJ 08226

Phone:
(609) 399-3361
Fax: (609) 399-4295
E-mail:
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Graduate Realtor Institute The Accredited Buyer Representative

The New Jersey Real Estate Licensing Law does not require licensees to work
in the capacity of an "agent' when providing brokerage services. A transaction broker works with a buyer or a seller or both in the same sales transaction without representing anyone. A TRANSACTION BROKER DOES NOT PROMOTE THE INTERESTS OF ONE PARTY OVER THOSE OF THE OTHER PARTY TO THE TRANSACTION. Licensees with such a firm would be required to treat all parties honestly and to act in a competent manner, but they would not be required to keep confidential any information. A transaction broker can locate qualified buyers for a seller or suitable properties for a buyer. They can then work with both parties in an effort to arrive at an agreement on the sale or rental of real estate and perform tasks to facilitate the closing of a transaction.

A transaction broker primarily serves as a manager of the transaction, communicating information between the parties to assist them in arriving at a mutually acceptable agreement and in closing the transaction, but cannot advise or counsel either party on how to gain an advantage at the expense of the other party. Owners considering working with transaction brokers are advised to sign a written agreement with that firm which clearly states what services that firm will perform and how it will be paid. In addition, any transaction brokerage agreement with a seller or landlord should specifically state whether a notice on the property to be rented or sold will or will not be circulated in any or all Multiple Listing System(s) of
which that firm is a member.

 

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