Final answer:
A broker acts as an intermediary between a buyer and a seller, and their obligations can vary by industry. In general, they must provide accurate information, ensure parties are well informed, and act professionally while following legal and ethical standards. Specific duties may require providing advice to their client(s) or remaining neutral if not representing one side.
Step-by-step explanation:
A broker serves as an intermediary between a buyer and a seller in various types of transactions, including those in the financial capital markets. In the context of an agent's duties after appointments are made with buyers and sellers, the broker must typically uphold a duty to both parties involved. However, the specific role and obligations of a broker can vary widely depending on the context and the type of transaction.
For example, in real estate, a broker may represent either the buyer, the seller, or both (in a limited dual agency situation), and would offer advice and opinions to their client, whether that's the buyer or seller, while remaining neutral if representing both. By contrast, in stock trading, the broker might focus more on executing trades as directed by the client without offering advice.
In general, when serving as an intermediary, brokers should provide accurate and relevant information, ensure both parties are well informed of the conditions in the markets, and maintain a level of professionalism that allows for independent and competitive action by buyers and sellers.
Crucially, in all scenarios, the broker must act within the legal and ethical guidelines appropriate to their industry, often including a requirement to remain neutral if they are not specifically representing one party's interests over the other's.