Which of the following is NOT an obligation of a transaction broker?

A transaction broker's primary role is to facilitate a real estate transaction without representing either party in a fiduciary capacity. This means they do not advocate for one party over the other, maintaining a neutral stance throughout the process.

The correct answer highlights that a transaction broker does not have an obligation to provide advice and counsel specifically to one party, as doing so would imply representation, which contradicts their neutral role. Instead, transaction brokers are tasked with facilitating communication between both the buyer and seller, ensuring that both parties can effectively discuss and negotiate terms when necessary. They also help produce paperwork and maintain a level of fairness and transparency during the transaction.

By not providing direct advice to either party, the transaction broker helps maintain their impartiality, which is essential in ensuring a smooth transaction process while respecting both parties’ interests equally. This neutrality is a significant distinction from roles such as a listing agent or buyer's agent, who do have fiduciary duties to advocate for their clients.