Final answer:
A broker must have a written agreement if they are serving as a transaction broker without one. Without a written agreement, the broker may face legal issues and may not have a clear understanding of the terms and conditions of the transaction.
Step-by-step explanation:
A broker must have a written agreement if they are serving as a transaction broker without one.
Without a written agreement, the broker may face legal issues and may not have a clear understanding of the terms and conditions of the transaction.
For example, a written agreement can outline the commission structure, responsibilities of both parties, and provide protection for both the broker and the client.