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Question 1
What type of agency relationship exists when a broker represents ONLY the seller in a real estate transaction?
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?
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?
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?
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?
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.