What are the duties of a no brokerage relationship?

In a no brokerage relationship, the duties primarily focus on dealing honestly and fairly, as well as accounting for all funds provided by clients. This type of relationship indicates that the broker does not have an agency relationship with the buyer or seller but still has fundamental responsibilities to ensure transparency and trust in the transaction.

The importance of dealing honestly and fairly means that the broker must present all relevant information to both parties and not engage in misrepresentation or fraud. Accounting for all funds includes the proper management and disclosure of any money or property given in the course of the transaction, ensuring that everything is handled ethically and responsibly.

While fiduciary duties are essential in a full representation scenario, they do not apply in a no brokerage relationship since there is no agent-client relationship established. The other choices imply additional responsibilities or relationships that are not part of a no brokerage scenario, such as exclusive representation or providing a market analysis, which are beyond the scope of what is required in a no brokerage context.