Question 1

What type of agency relationship exists when a broker represents ONLY the seller in a real estate transaction?

Accepted Answer

Single agency representing the seller. The broker owes full fiduciary duties exclusively to the seller and must act in the seller's best interests.

Question 2

What is the term for a Florida brokerage relationship in which the broker assists both buyer and seller but does NOT represent either party as a fiduciary?

Accepted Answer

Transaction brokerage. Florida law presumes this is the default brokerage relationship unless single agency or no brokerage is established in writing.

Question 3

In Florida, what is 'designated sales associate' agency, and when does it apply?

Accepted Answer

It applies when both buyer and seller are represented by the same brokerage and are each designated a different sales associate as their single agent. It is only available when both parties are legally classified as non-residential buyers and sellers.

Question 4

What agency relationship exists when a broker works with a customer rather than a client, providing services without representing that party?

Accepted Answer

No brokerage relationship (also called a non-agency or facilitator relationship). The broker owes limited statutory duties but no fiduciary obligations to that customer.

Question 5

Which type of agency is PROHIBITED in Florida residential real estate transactions?

Accepted Answer

Undisclosed dual agency is prohibited. Florida law does not recognize traditional dual agency; instead, brokers must transition to transaction brokerage or use designated sales associate representation.

Agency Relationships – Florida Real Estate Salesperson Exam

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