Transaction Broker
Florida's default brokerage relationship, in which a licensee gives limited representation to a buyer or seller without full fiduciary duties.
A transaction broker provides limited representation to a buyer, a seller, or both in the same transaction. The licensee helps the deal move forward but does not owe the full set of fiduciary duties a single agent owes. Florida law presumes every licensee works as a transaction broker unless a single agent or no brokerage relationship is established in writing.
The limited duties a transaction broker owes are set by statute: deal honestly and fairly, account for all funds, use skill and care, disclose known facts that materially affect the value of residential property and are not readily observable, present all offers and counteroffers, and exercise limited confidentiality. The licensee may not disclose that a seller will accept less than the asking price or that a buyer will pay more than the offered price unless authorized.
On the exam
Exam trap
Tested in
Authorized Relationships (7% of the exam)
From definition to recall
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- Single Agent
A licensee who represents one party, the buyer or the seller, with full fiduciary duties under Florida law.
- No Brokerage Relationship
A Florida brokerage status in which a licensee deals with a buyer or seller as a customer and owes only three limited duties.
- Fiduciary Duties
The full duties of trust a single agent owes a principal, often memorized with the mnemonic OLD CAR.
- Dual Agency
Representing both the buyer and the seller as a single agent in the same transaction, which is prohibited in Florida.
This definition is Florida real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.