Florida Brokerage Relationships Explained: Transaction Broker vs Single Agent vs No Brokerage (2026)
Florida Brokerage Relationships: The #1 Non-Math Topic Students Fail
Florida brokerage relationships work differently from every other state. If you studied with national prep materials, this is the topic that will surprise you on exam day.
There is no general agency. There is no dual agency. There is no subagency. Florida created its own system under the Brokerage Relationship Disclosure Act (Chapter 475, Florida Statutes), and the three brokerage relationships authorized in Florida (transaction broker, single agent, and no brokerage) follow rules that most textbooks do not cover correctly.
The exam tests this content under two separate topic areas: Authorized Relationships, Duties, and Disclosures (7% of the exam) and Real Estate Brokerage Activities and Procedures (12% of the exam). That means brokerage relationship questions can show up in nearly one out of every five questions on your test.
Students who assume all licensees owe fiduciary duties miss every relationship question. Students who think dual agency is legal in Florida miss every question about it. Students who believe paying commission creates a brokerage relationship miss those questions too.
This guide covers all three Florida brokerage relationships, every duty under each one, the disclosure requirements and timing, the transition process, and the exam traps that cost the most points. By the end, you should be able to answer any brokerage relationship question on the Florida real estate exam without hesitating.
The short version: Florida authorizes three brokerage relationships: transaction broker (the default, 7 duties, not a fiduciary), single agent (9 duties, fiduciary, COLD), and no brokerage (3 duties, DAD). Dual agency is illegal. Commission does not determine the relationship. Disclosure must happen before or at the time of entering into an agreement or showing property, whichever comes first.
Exam Weight: 7% (Authorized Relationships) + 12% (Brokerage Activities) | Difficulty: High | Math: None
What This Guide Covers
- What Is a Transaction Broker in Florida?
- What Is a Single Agent in Florida Real Estate?
- No Brokerage Relationship: The Three Minimum Duties
- Brokerage Relationship Duties Compared: Complete Table
- Why Dual Agency Is Illegal in Florida
- Does Paying Commission Create a Brokerage Relationship?
- When Must Brokerage Relationship Disclosures Be Given?
- How to Transition from Single Agent to Transaction Broker
- 2026 Update: NAR Settlement and Buyer Representation in Florida
- Exam Practice: 5 Brokerage Relationship Scenarios
- Frequently Asked Questions
The Three Brokerage Relationships Authorized in Florida
Florida Statute Section 475.278 authorizes exactly three brokerage relationships. No others exist in Florida law. Every question the exam asks about brokerage relationships involves one of these three.
What Is a Transaction Broker in Florida?
A transaction broker provides a limited form of representation to a buyer, a seller, or both. This is the most important thing to understand: a transaction broker is not a fiduciary. A transaction broker does not represent either party the way an agent would. They facilitate the transaction.
Under Section 475.278(1)(b), the law presumes that all licensees are operating as transaction brokers unless a single agent or no brokerage relationship is established in writing. That means if no written disclosure for another relationship type is given, the licensee is a transaction broker by default.
This is a heavily tested fact. If the exam describes a situation where a broker meets a buyer at an open house and no written disclosures have been signed, the relationship is transaction brokerage. Not single agency. Not no brokerage. Transaction broker. By default.
What Are the 7 Transaction Broker Duties?
- Dealing honestly and fairly
- Accounting for all funds entrusted to the licensee
- Using skill, care, and diligence in the transaction
- Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer
- Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing
- Limited confidentiality (not full confidentiality)
- Any additional duties that are entered into by this or by separate written agreement
What Does Limited Confidentiality Mean for a Transaction Broker?
This is the concept that trips up the most students. Limited confidentiality is not the same as full confidentiality. Under limited confidentiality, a transaction broker will not disclose:
- That the seller will accept a price less than the asking price
- That the buyer will pay more than the price submitted in a written offer
- The motivation of any party for selling or buying
- That a party will agree to financing terms other than those offered
- Any other information requested by a party to remain confidential
The key word is "limited." The transaction broker protects specific categories of information listed above. A single agent, by contrast, protects all information about the principal. That distinction shows up on the exam regularly.
One more detail: limited confidentiality can be waived in writing by a party. If the exam asks whether a buyer can authorize the transaction broker to share their maximum price with the seller, the answer is yes, with written consent.
What Is a Single Agent in Florida Real Estate?
A single agent is the only fiduciary brokerage relationship in Florida. A single agent represents either the buyer or the seller, but never both, in a real estate transaction.
Fiduciary means the licensee must place the principal's interests above everyone else's, including their own. That is a legal obligation, not a suggestion. Violating fiduciary duties can result in license suspension, revocation, and civil liability.
What Are the 9 Single Agent Duties in Florida?
A single agent owes all seven duties that a transaction broker owes, plus four additional ones. Those four additional duties are what make it fiduciary.
- Dealing honestly and fairly
- Loyalty
- Confidentiality (full, not limited)
- Obedience
- Full disclosure
- Accounting for all funds
- Skill, care, and diligence
- Presenting all offers and counteroffers in a timely manner
- Disclosing all known facts that materially affect the value of residential real property and are not readily observable
What Does COLD Stand for in Florida Real Estate?
The four duties that separate a single agent from a transaction broker spell COLD:
- C = Confidentiality (full, not limited)
- O = Obedience (follow all lawful instructions from the principal)
- L = Loyalty (place the principal's interests above all others, including your own)
- D = Disclosure (full disclosure of all information, not just material defects)
If the exam asks "What duties does a single agent have that a transaction broker does not?" the answer is COLD. If it asks "What makes a single agent relationship fiduciary?" the answer is COLD. If it asks which relationship type requires loyalty, the answer is single agent. This mnemonic is worth committing to memory before exam day.
Full Confidentiality vs. Limited Confidentiality
A single agent's confidentiality is full. Everything the principal shares is protected. There is no list of specific categories. All information about the principal is confidential unless the principal gives written authorization to share it.
Compare that to the transaction broker's limited confidentiality, which only protects the specific categories listed in the statute (price thresholds, motivation, financing terms, and information the party specifically requests to remain confidential).
The exam loves to test this distinction. If a question asks what a single agent must keep confidential, the answer is everything. If it asks what a transaction broker must keep confidential, the answer is the specific enumerated categories.
No Brokerage Relationship in Florida: The Three Minimum Duties
In a no brokerage relationship, the licensee is not representing the buyer or the seller in any capacity. No agency. No fiduciary obligation. No facilitation beyond the minimum statutory requirements.
The 3 No Brokerage Duties (DAD)
- Dealing honestly and fairly
- Accounting for all funds
- Disclosing all known facts that materially affect the value of residential real property and are not readily observable
The mnemonic is DAD: Dealing honestly, Accounting, Disclosing material facts.
What a No Brokerage Licensee Does NOT Owe
This is the part students miss. In a no brokerage relationship, the licensee is not required to:
- Present all offers and counteroffers
- Exercise any form of confidentiality (limited or full)
- Use skill, care, and diligence beyond the basic statutory requirements
- Provide any additional services
The exam tests this by describing a scenario where a customer in a no brokerage relationship asks the licensee to present an offer. The correct answer: the licensee is not obligated to do so. That duty belongs to transaction brokers and single agents, not to licensees in a no brokerage relationship.
Brokerage Relationship Duties Compared: Transaction Broker vs Single Agent vs No Brokerage
This table is the single most useful reference for exam preparation on this topic. Know it cold.
| Duty | Transaction Broker | Single Agent | No Brokerage |
|---|---|---|---|
| Dealing honestly and fairly | Yes | Yes | Yes |
| Accounting for all funds | Yes | Yes | Yes |
| Disclosing material facts | Yes | Yes | Yes |
| Skill, care, and diligence | Yes | Yes | No |
| Presenting all offers/counteroffers | Yes | Yes | No |
| Limited confidentiality | Yes | No (has full) | No |
| Additional agreed duties | Yes | N/A | No |
| Loyalty | No | Yes | No |
| Full confidentiality | No | Yes | No |
| Obedience | No | Yes | No |
| Full disclosure | No | Yes | No |
| Fiduciary? | No | Yes | No |
| Total Duties | 7 | 9 | 3 |
The three duties that appear in every column (dealing honestly, accounting, disclosing material facts) are the universal minimums. Every licensee in Florida owes these three regardless of relationship type. That is DAD.
The four duties that appear only in the single agent column (loyalty, full confidentiality, obedience, full disclosure) are COLD. These are what make the relationship fiduciary.
Screenshot this table or print it. It is worth reviewing the night before your exam. If you can reproduce it from memory, you can answer any duty comparison question without thinking twice.
Why Dual Agency Is Illegal in Florida
This is not a gray area. Florida Statute Section 475.272 states that disclosed dual agency as an authorized form of representation is "expressly revoked." Section 475.278 adds that a licensee "may not operate as a disclosed or nondisclosed dual agent."
Both forms are illegal. Disclosed dual agency: illegal. Undisclosed dual agency: illegal. There is no exception for consent, no exception for disclosure, and no exception for commercial transactions.
Why Dual Agency Catches Students Using National Prep Materials
Most states allow dual agency with proper disclosure and consent. If you studied with materials designed for California, Texas, New York, or any national prep course, you were taught that dual agency is a relationship type that requires disclosure and informed consent. In Florida, that entire framework does not apply. The Florida-specific content guide covers every state-specific topic area the exam tests, including the 2026 legislative updates that national materials will not have.
The exam expects you to know that dual agency is not just discouraged in Florida. It is prohibited by statute. If the exam describes a scenario where a broker represents both the buyer and the seller as a fiduciary, the correct answer is that this is a violation of Florida law. Not that it requires disclosure. Not that it requires consent. It is illegal.
How Transaction Brokerage Solves the Problem
Florida created the transaction broker relationship specifically to handle situations where one brokerage works with both sides of a transaction. Because a transaction broker provides limited, non-fiduciary representation, serving both the buyer and seller as a transaction broker does not constitute dual agency.
This is a common exam question: "A broker is working with both the buyer and the seller. What is the broker's relationship?" If the broker is operating as a transaction broker, the answer is legal. If the broker is operating as a single agent for both, the answer is illegal dual agency.
What Are the Penalties for Dual Agency in Florida?
A licensee who engages in dual agency faces disciplinary action by FREC under Section 475.25. Penalties include fines up to $5,000 per violation, license suspension for up to 10 years, or license revocation. These are not theoretical. FREC enforces them.
Does Paying Commission Create a Brokerage Relationship in Florida?
No. And this trips up almost everyone the first time they encounter it.
In most industries, paying someone for a service creates an obligation. You hire a plumber, you pay the plumber, the plumber works for you. Real estate does not work that way in Florida. Paying a commission does not create a brokerage relationship. Not paying a commission does not eliminate one.
A seller can pay the buyer's broker's commission. That does not create a brokerage relationship between the seller and the buyer's broker. A licensee in a no brokerage relationship can still receive compensation. The brokerage relationship is determined by the written disclosure and agreement between the parties, not by who writes the check.
The exam tests this by describing a scenario where a seller pays the cooperating broker's commission and then asks what relationship exists between the seller and the cooperating broker. The answer: no brokerage relationship exists unless one has been separately established in writing.
When Must Brokerage Relationship Disclosures Be Given in Florida?
Disclosure Timing Requirements
This part of the statute sounds dry, but the exam tests it word for word. Get the timing wrong and you lose what should be a free point.
Disclosures must be provided before or at the time of the earliest of:
- Entering into a listing agreement
- Entering into an agreement for representation
- Showing property
Whichever occurs first. That last part is what catches students. They assume disclosure happens when a contract is signed. It can happen much earlier. If a licensee shows a property before providing any written disclosure, the relationship defaults to transaction brokerage (the statutory presumption), but the licensee may have created compliance issues by not disclosing sooner.
Format Requirements
The exam occasionally tests these details, so they are worth a quick read even though they feel bureaucratic.
All disclosures must be in writing. The first sentence of the disclosure must be printed in uppercase and bold type. The disclosure can be a separate document or included as part of a listing agreement or representation agreement, as long as the type size is the same or larger than other provisions.
Disclosure Requirements by Relationship Type
| Relationship | Written Disclosure Required? | Notes |
|---|---|---|
| Transaction broker | Not technically required (it is the default presumption) | Best practice is to still provide it. Duties must be described in writing when entering any contract. |
| Single agent | Required | Must be provided before or at the time of listing, representation, or showing, whichever comes first. |
| No brokerage | Required | Same timing as single agent. |
Telephone and Non-Face-to-Face Contact
If first contact happens by phone or other means where written disclosure cannot be provided, the licensee must give oral notice during that conversation. Written disclosure must then follow at the earlier of first face-to-face contact, execution of a brokerage agreement, or execution of a purchase and sale contract.
How to Transition from Single Agent to Transaction Broker in Florida
A single agent relationship can be changed to a transaction broker relationship during the course of the relationship. This typically happens when a listing agent's brokerage also has a buyer interested in the same property. The agent cannot represent both sides as a single agent (that would be dual agency), so they transition to transaction broker.
What Are the Requirements to Transition?
- The principal (the party being represented as a single agent) must provide written consent
- The licensee must use the statutory "Consent to Transition to Transaction Broker" disclosure form
- The form must include the statement: "This change in relationship cannot occur without your prior written consent"
- The first sentence must be in uppercase and bold type
Can You Transition from Transaction Broker to Single Agent?
No. The exam tests this specifically. A single agent can transition to a transaction broker. A transaction broker cannot transition to a single agent. A no brokerage relationship cannot transition to any other relationship type. If the relationship needs to change in any direction other than single agent to transaction broker, the parties must establish a new relationship with proper disclosures.
What the Principal Gives Up
When a principal consents to the transition, they lose the four COLD duties: loyalty, full confidentiality, obedience, and full disclosure. They gain limited confidentiality instead of full confidentiality. The exam may describe this transition and ask which duties change. The answer is always COLD.
2026 Update: NAR Settlement and Buyer Representation in Florida
You may have heard about the NAR settlement that shook up the real estate industry in 2024. If you are wondering whether it changes what you need to know for the exam, here is the short answer: the three brokerage relationship types did not change. Transaction broker is still the default. Single agent is still the only fiduciary. Dual agency is still illegal. But the settlement did change how buyer representation works in practice, and the exam may reflect that.
The National Association of Realtors settlement took effect on August 17, 2024. Florida's brokerage relationship law (Chapter 475) was not amended, but the settlement creates new requirements that layer on top of existing Florida law for NAR members.
What Changed in Practice
Written buyer agreements are now required before touring homes. Any MLS participant working with a buyer must have a written agreement in place before physically showing any property. Not before making an offer. Before walking through the front door. This applies regardless of which brokerage relationship type is used.
Compensation offers were removed from the MLS. Sellers and listing brokers can no longer advertise offers of compensation to buyer's brokers in any MLS field. The days of seeing "2.5% to buyer's agent" in the listing are over. Buyer broker compensation must now be negotiated independently.
Compensation must be specific. Buyer broker agreements must state compensation that is objectively ascertainable. A specific percentage, a flat fee, or an hourly rate. Ranges like "between 2% and 3%" are not permitted. The agreement must also include the statement: "Broker commissions are not set by law and are fully negotiable."
The Four Exclusive Buyer Brokerage Agreement (EBBA) Variations in Florida
Florida Realtors updated their standard forms to comply with both Florida law and the NAR settlement. There are four versions of the Exclusive Buyer Brokerage Agreement, each matching one of Florida's authorized relationships:
- EBBA-8sa (Single Agent): Full fiduciary representation for the buyer
- EBBA-8tb (Transaction Broker): Limited, non-fiduciary representation for the buyer
- EBBA-8tn (Consent to Transition): Starts as single agent with built-in consent to transition to transaction broker
- EBBA-8nr (No Brokerage): An exclusive agreement with no representation
All four versions were updated in January 2026 to include audio/visual acknowledgment language (since properties commonly feature surveillance cameras) and to change "buyer" to "consumer" and "broker/sales associate" to "broker or authorized associate."
What This Actually Means for Your Exam
Do not overthink this. The NAR settlement reinforces principles that were already part of Florida law: compensation is negotiable, commission does not create a relationship, and buyer representation should be established in writing. The exam may reference the requirement for written buyer agreements, and it may test whether you understand that compensation does not determine the relationship type. Those were always Florida rules. The settlement just made the rest of the country catch up.
Florida Real Estate Exam Questions: Brokerage Relationship Scenarios
Test yourself on these five scenarios before moving on. Cover the answers, work through each one, then check. Each targets a different brokerage relationship trap that shows up on the Florida real estate exam.
Scenario 1: The Open House Question
A buyer walks into an open house. The listing agent greets them and begins showing the property. No written disclosures have been signed. What brokerage relationship exists between the listing agent and the buyer?
Answer: Transaction broker.
Under Section 475.278(1)(b), the presumption is that all licensees operate as transaction brokers unless a single agent or no brokerage relationship is established in writing. No written disclosure was provided, so the default applies.
Why students get this wrong: Most people pick "no brokerage relationship" because nothing was signed. That logic feels right but it is backwards. In Florida, the absence of a written disclosure does not mean no relationship. It means the default relationship: transaction broker.
Scenario 2: The Confidentiality Test
A single agent representing a seller learns that the seller will accept $20,000 less than the listing price. The agent does not share this information with the buyer. Did the agent act correctly?
Answer: Yes. And this is not a close call.
A single agent owes full confidentiality to the principal. Everything. The seller's bottom line, their motivation, their timeline. Sharing any of it with the buyer would be a direct violation of the agent's fiduciary duties. The agent did exactly what the law requires.
Where the confusion comes from: Students who studied limited confidentiality (the transaction broker version) sometimes apply those rules to single agents. They are not the same. A transaction broker protects specific categories. A single agent protects everything. If you see "single agent" in the question, think full confidentiality. No exceptions.
Scenario 3: The "Present My Offer" Request
Here is a question your study group will argue about. A buyer has a no brokerage relationship with a licensee. The buyer hands the licensee a written offer and says "Please present this to the seller." The licensee does not present it. Did the licensee violate any duty?
Answer: No.
This feels wrong, and that is exactly why the exam uses it. The duty to present all offers and counteroffers belongs to transaction brokers and single agents. A no brokerage licensee owes only three duties: deal honestly, account for funds, and disclose material facts. DAD. Presenting offers is not on that list.
If this scenario appeared on your exam and you picked "yes, the licensee violated a duty," you just lost a point to a question designed to test whether you know the limits of a no brokerage relationship.
Scenario 4: Both Sides of the Deal
A broker has a single agent relationship with a seller. A buyer contacts the same brokerage, interested in the seller's property. The broker wants to work with both parties. What must happen next?
Answer: The broker must obtain the seller's written consent to transition from single agent to transaction broker before working with the buyer.
Think about why. If the broker tried to act as a single agent for both the buyer and the seller, that would be fiduciary representation of both sides. That is the definition of dual agency. And dual agency is illegal in Florida. No exceptions.
The only legal path is to transition the seller's relationship from single agent to transaction broker using the statutory consent form. Once that transition is complete, the broker can serve both parties as a transaction broker.
Watch for this answer choice: "The broker should provide a single agent disclosure to the buyer." That sounds reasonable. It is wrong. Adding a second single agent relationship makes the problem worse, not better. The seller's existing single agent relationship must be formally transitioned first.
Scenario 5: Who Pays, Who Serves
This is the question that trips up more students than any other brokerage relationship question on the exam.
A seller pays the buyer's broker a 3% commission as part of the transaction. What brokerage relationship does this create between the seller and the buyer's broker?
Answer: None.
The check goes from the seller to the buyer's broker. The relationship does not follow the money. The buyer's broker has a brokerage relationship with the buyer, whatever type was established in writing. The seller paying that commission creates no relationship, no duties, and no obligations between the seller and the buyer's broker.
If you remember one sentence from this entire post, make it this: the brokerage relationship is determined by the written agreement, not by who writes the check.
Where Do Florida Brokerage Relationship Rules Apply?
Section 475.278(5) limits the Brokerage Relationship Disclosure Act to specific property types:
Applies to:
- Residential sales of 4 or fewer units (improved or unimproved)
- Agricultural property of 10 acres or fewer
Does NOT apply to:
- Nonresidential (commercial) transactions
- Rental or leasing transactions
- Auctions
- Appraisals
- Open houses (general inquiries, not representation)
- Situations where a licensee merely provides a list of properties for sale
For nonresidential transactions involving parties with assets of $1 million or more, Florida allows a "designated sales associate" arrangement under Section 475.2755, which is a separate concept from the three residential brokerage relationships.
What to Study Next
If you got all five scenarios right without hesitating, brokerage relationships are not your weak area. Move to escrow and trust account rules (the most number-heavy part of the 12% Brokerage Activities topic) or contracts (12% of the exam, covering five elements, void vs voidable, breach remedies, and the EBBA).
If you got three or four right but hesitated on the commission or transition questions, review the duty comparison table above and retake the scenarios tomorrow. Hesitation on exam day burns time you do not have.
If you missed two or more, this topic needs dedicated study before your exam. Brokerage relationships can appear in nearly one out of every five questions. Start with the COLD and DAD mnemonics, master the duty table, then come back to the scenarios until all five feel automatic.
How Pass Florida Drills This Until It Sticks
Reading a study guide gets you familiar with the content. Answering scenario-based questions under time pressure is what builds the recall speed you need on exam day.
Adaptive targeting detects whether you confuse transaction broker duties with single agent duties. If you get a COLD question wrong, the engine feeds you more COLD questions until your accuracy is consistent. If you mix up the disclosure timing rules, it targets those specifically.
Confidence calibration catches the blind spot that costs the most points on this topic: students who feel confident about brokerage relationships but consistently pick the wrong answer on the "does commission create a relationship" questions. The app surfaces that mismatch before exam day.
The 19-topic diagnostic shows your baseline accuracy on Authorized Relationships (7%) and Brokerage Activities (12%) before you start studying. If you are already strong on this topic, you can allocate that study time elsewhere. If you are weak, you know exactly how much ground to cover.
Download Pass Florida and take a free diagnostic to see where you stand on brokerage relationships and all 18 other exam topics. Ten minutes to find out whether this content area needs study time or whether you can focus elsewhere.
Frequently Asked Questions
What are the three brokerage relationships in Florida?
Florida authorizes three brokerage relationships: transaction broker, single agent, and no brokerage relationship. Transaction broker is the default presumption when no other relationship is established in writing. Single agent is the only fiduciary relationship. No brokerage provides the minimum three duties (dealing honestly, accounting, disclosing material facts). These three are defined in Florida Statute Section 475.278. No other relationship types are authorized in Florida.
Is dual agency legal in Florida?
No. Dual agency is illegal in Florida. Section 475.272 of the Florida Statutes expressly revokes disclosed dual agency as an authorized form of representation. Section 475.278 prohibits both disclosed and undisclosed dual agency. A licensee who engages in dual agency faces fines up to $5,000 per violation, license suspension for up to 10 years, or license revocation. Florida created the transaction broker relationship as the legal alternative for situations where one brokerage works with both sides.
What is the default brokerage relationship in Florida?
Transaction broker. Under Section 475.278(1)(b), all licensees are presumed to be operating as transaction brokers unless a single agent or no brokerage relationship is established in writing. If no written disclosure has been signed, the law treats the licensee as a transaction broker.
What is the difference between a transaction broker and a single agent in Florida?
A single agent is a fiduciary who represents one party and owes nine duties, including loyalty, full confidentiality, obedience, and full disclosure (the COLD duties). A transaction broker provides limited, non-fiduciary representation with seven duties and owes only limited confidentiality. The four COLD duties are what make a single agent relationship fiduciary. A transaction broker can legally work with both sides of a transaction. A single agent cannot.
What does COLD stand for in Florida real estate?
COLD stands for Confidentiality (full), Obedience, Loyalty, and Disclosure (full). These are the four duties that a single agent owes but a transaction broker does not. They are the duties that make the single agent relationship fiduciary. If you remember COLD, you can answer any question about what distinguishes single agency from transaction brokerage.
Does paying commission create a brokerage relationship in Florida?
No. Commission or compensation does not create, define, or alter a brokerage relationship. A seller can pay the buyer's broker's commission without creating any relationship between them. A licensee in a no brokerage relationship can still receive compensation. The brokerage relationship is determined by written agreement, not by payment. This is one of the most frequently tested principles in this topic area.
When must brokerage relationship disclosures be given in Florida?
Before or at the time of entering into a listing agreement, entering into an agreement for representation, or showing property, whichever occurs first. If first contact happens by phone, oral disclosure must be given during the call, followed by written disclosure at the first face-to-face meeting, execution of a brokerage agreement, or execution of a purchase and sale contract, whichever comes first.
Can a single agent transition to a transaction broker in Florida?
Yes, but only with the principal's written consent using the statutory "Consent to Transition to Transaction Broker" form. The transition can only go in one direction: from single agent to transaction broker. You cannot transition from transaction broker to single agent or from no brokerage to another relationship type without establishing a new relationship with proper disclosures.
What is limited confidentiality for a transaction broker?
Limited confidentiality means the transaction broker will not disclose that the seller will accept less than the asking price, that the buyer will pay more than the offer price, the motivation of any party for buying or selling, that a party will agree to different financing terms, or any other information requested to remain confidential. This is narrower than the full confidentiality a single agent owes, which covers all information about the principal.
Do brokerage relationship rules apply to commercial transactions in Florida?
No. The Brokerage Relationship Disclosure Act (Section 475.278) applies only to residential sales of four or fewer units and agricultural property of 10 acres or fewer. Commercial, nonresidential transactions are not covered. For nonresidential transactions where both parties have assets of $1 million or more, Florida allows a separate "designated sales associate" arrangement under Section 475.2755.
Related:
The 19 Topics on the Florida Real Estate Exam and How Much Each Is Weighted
How to Pass the Florida Real Estate Exam on Your First Try
Florida Real Estate Practice Exam: 20 Free Questions
How to Calculate Real Estate Commission for the Florida Exam
Florida Real Estate Contracts Guide: Every Rule the Exam Tests
The Florida-Specific Content Your Prep Course Probably Skipped