What would NOT be a characteristic of a transaction broker?

A transaction broker is characterized by their role in facilitating transactions between parties without representing either one as an advocate. This role highlights a pivotal feature of transaction brokers: they do not owe fiduciary duties to any party involved, such as loyalty, confidentiality, or full disclosure, which would typically be provided by an agent representing a client.

By functioning as a neutral party, the transaction broker guides the process, ensuring that all parties have the information necessary to make informed decisions while remaining impartial. They facilitate the transaction by coordinating communications and negotiations between the buyer and seller. Therefore, the absence of fiduciary duties — which is a hallmark of traditional agency relationships — is what distinguishes the transaction broker's role from that of an agent who fully represents either the buyer or seller.

Thus, the correct answer reflects a fundamental aspect of the transaction broker's function and characteristics, emphasizing their neutrality and facilitative role rather than acting in a capacity that includes fiduciary responsibilities.