Florida brokerage relationships: transaction broker, single agent, or none, under s. 475.278
Florida law lets a licensee act as a transaction broker or a single agent, or have no brokerage relationship, and bans dual agency. Transaction broker is the default unless another relationship is set up in writing.
Section 475.278, Florida Statutes, governs the brokerage relationships a real estate licensee may have with a buyer or seller in a residential sale.
Transaction broker. This is the default. Unless a single agent or no-relationship arrangement is established in writing, the licensee is presumed to be a transaction broker. A transaction broker provides limited representation to a buyer, a seller or both. The statutory duties include dealing honestly and fairly, accounting for funds, using skill, care and diligence, disclosing known material facts about the property that are not readily observable, presenting all offers promptly, and keeping certain information confidential.
Single agent. A single agent owes broader duties, including loyalty, confidentiality, obedience and full disclosure. These duties must be disclosed in writing before a listing or representation agreement is signed, or before showing the property, whichever comes first. A single agent can switch to transaction broker status only with the principal's prior written consent.
No brokerage relationship. The licensee's duties are limited to honest and fair dealing, disclosing material facts that are not readily observable, and accounting for funds. Written disclosure is required before showings.
Dual agency. The statute says a licensee may not operate as a disclosed or nondisclosed dual agent.
Scope. The section applies to residential sales of up to four units, unimproved land intended for up to four units, and agricultural property of 10 acres or less. It lists exemptions that include open houses, auctions, appraisals, nonresidential transactions and most casual conversations.
This guide explains the statute in general terms and is not legal advice. The statute also prescribes disclosure wording and other details not reproduced here.