Agency Relationships

# Agency Relationships in Florida Real Estate Exam: Florida Real Estate Salesperson Last Updated: 2026-06-29 (content_version: 2 — statute-grounded enrichment) --- ## Overview of Florida's Brokerage Relationship Framework Florida law is unique: it does not recognize traditional fiduciary agency by default. Instead, Florida created a statutory framework under Chapter 475, Florida Statutes that defines three distinct brokerage relationships. A licensee must clearly establish which relationship exists with each party before providing real estate services. The three relationships are: 1. Single Agent — highest level of representation; fiduciary duties owed 2. Transaction Broker — limited representation; statutory duties only (no fiduciary) 3. No Brokerage Relationship — no representation; only honesty and disclosure duties > Exam Tip: Florida presumes the transaction broker relationship unless another relationship is established in writing. This is the opposite of most states, which default to agency. --- ## Single Agent Relationship A single agent represents only one party (buyer OR seller) and owes that party full fiduciary duties. This is the highest level of service. ### Fiduciary Duties Under Single Agency (Florida Statute 475.278) | Duty | Description | |---|---| | Dealing honestly and fairly | Must be honest with all parties | | Loyalty | Put client's interests above all others, including the broker's own | | Confidentiality | Cannot disclose client's personal or financial information without consent | | Obedience | Follow lawful instructions of the principal | | Full disclosure | Disclose all known facts material to the transaction | | Accounting for all funds | Account for all money and property received |…