What must a transaction broker disclose to all parties in a real estate transaction?

In a real estate transaction, brokers have a duty to disclose material facts that could affect a party's decision such as conditions that may pose health risks or affect the property's value. The presence of asbestos in floor tiles is a significant issue, as asbestos is a known health hazard if disturbed. A transaction broker must inform all parties involved about any known health safety issues associated with the property to ensure they can make informed decisions.

This requirement is rooted in ensuring transparency and protecting the interests of the parties involved. It reflects regulations and ethical standards within the real estate industry that aim to safeguard buyers and sellers from potential harms related to property conditions. Disclosures of such hazardous materials are crucial for risk management and legal compliance, making it imperative for brokers to relay this information to all parties.