FLORIDA REAL ESTATE TYPES OF REPRESENTATION
475.278 Authorized brokerage relationships; presumption of transaction brokerage; required
disclosures.
(1) BROKERAGE RELATIONSHIPS.
(a) Authorized brokerage relationships.A real estate licensee in this state may enter into a
brokerage relationship as either a transaction broker or as a single agent with potential buyers and
sellers. A real estate licensee may not operate as a disclosed or nondisclosed dual agent. As used in
this section, the term dual agent means a broker who represents as a fiduciary both the prospective
buyer and the prospective seller in a real estate transaction. This part does not prevent a licensee from
changing from one brokerage relationship to the other as long as the buyer or the seller, or both, gives
consent as required by subparagraph (3)(c)2. before the change and the appropriate disclosure of
duties as provided in this part is made to the buyer or seller. This part does not require a customer to
enter into a brokerage relationship with any real estate licensee.
(b) Presumption of transaction brokerage.It shall be presumed that all licensees are operating as
transaction brokers unless a single agent or no brokerage relationship is established, in writing, with a
customer.
(2) TRANSACTION BROKER RELATIONSHIP.A transaction broker provides a limited form of
representation to a buyer, a seller, or both in a real estate transaction but does not represent either in
a fiduciary capacity or as a single agent. The duties of the real estate licensee in this limited form of
representation include the following:
(a) Dealing honestly and fairly;
(b) Accounting for all funds;
(c) Using skill, care, and diligence in the transaction;
(d) Disclosing all known facts that materially affect the value of residential real property and are
not readily observable to the buyer;
(e) Presenting all offers and counteroffers in a timely manner, unless a party has previously
directed the licensee otherwise in writing;
(f) Limited confidentiality, unless waived in writing by a party. This limited confidentiality will
prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer
will pay a price greater than the price submitted in a written offer, of the motivation of any party for
selling or buying property, that a seller or buyer will agree to financing terms other than those offered,
or of any other information requested by a party to remain confidential; and
(g) Any additional duties that are mutually agreed to with a party.
(3) SINGLE AGENT RELATIONSHIP.
(a) Single agentduties.The duties of a real estate licensee owed to a buyer or seller who engages
the real estate licensee as a single agent include the following:
1. Dealing honestly and fairly;
2. Loyalty;
3. Confidentiality;
4. Obedience;
5. Full disclosure;
6. Accounting for all funds;
7. Skill, care, and diligence in the transaction;
8. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed
the licensee otherwise in writing; and
9. Disclosing all known facts that materially affect the value of residential real property and are
not readily observable.
(b) Disclosure requirements.
1. Single agent disclosure.Duties of a single agent must be fully described and disclosed in writing
to a buyer or seller either as a separate and distinct disclosure document or included as part of another
document such as a listing agreement or other agreement for representation. The disclosure must be
made before, or at the time of, entering into a listing agreement or an agreement for representation or
before the showing of property, whichever occurs first. When incorporated into other documents, the
required notice must be of the same size type, or larger, as other provisions of the document and must
be conspicuous in its placement so as to advise customers of the duties of a single agent, except that
the first sentence of the information identified in paragraph (c) must be printed in uppercase and bold
type.
2. Transition to transaction broker disclosure.A single agent relationship may be changed to a
transaction broker relationship at any time during the relationship between an agent and principal,
provided the agent first obtains the principals written consent to the change in relationship. This
disclosure must be in writing to the principal either as a separate and distinct document or included as
part of other documents such as a listing agreement or other agreements for representation. When
incorporated into other documents, the required notice must be of the same size type, or larger, as
other provisions of the document and must be conspicuous in its placement so as to advise customers
of the duties of limited representation, except that the first sentence of the information identified in
subparagraph (c)2. must be printed in uppercase and bold type.
(c) Contents of disclosure.
1. Single agent duties disclosure.The notice required under subparagraph (b)1. must include the
following information in the following form:
SINGLE AGENT NOTICE
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES OPERATING AS SINGLE AGENTS DISCLOSE TO
BUYERS AND SELLERS THEIR DUTIES.
As a single agent, (insert name of Real Estate Entity and its Associates) owe to you the following duties:
1. Dealing honestly and fairly;
2. Loyalty;
3. Confidentiality;
4. Obedience;
5. Full disclosure;
6. Accounting for all funds;
7. Skill, care, and diligence in the transaction;
8. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed
the licensee otherwise in writing; and
9. Disclosing all known facts that materially affect the value of residential real property and are not
readily observable.
Date Signature
2. Transition disclosure.To gain the principals written consent to a change in relationship, a
licensee must use the following disclosure:
CONSENT TO TRANSITION TO
TRANSACTION BROKER
FLORIDA LAW ALLOWS REAL ESTATE LICENSEES WHO REPRESENT A BUYER OR SELLER AS A SINGLE
AGENT TO CHANGE FROM A SINGLE AGENT RELATIONSHIP TO A TRANSACTION BROKERAGE
RELATIONSHIP IN ORDER FOR THE LICENSEE TO ASSIST BOTH PARTIES IN A REAL ESTATE TRANSACTION
BY PROVIDING A LIMITED FORM OF REPRESENTATION TO BOTH THE BUYER AND THE SELLER. THIS
CHANGE IN RELATIONSHIP CANNOT OCCUR WITHOUT YOUR PRIOR WRITTEN CONSENT.
As a transaction broker, (insert name of Real Estate Firm and its Associates) , provides to you a limited form of
representation that includes the following duties:
1. Dealing honestly and fairly;
2. Accounting for all funds;
3. Using skill, care, and diligence in the transaction;
4. Disclosing all known facts that materially affect the value of residential real property and are not
readily observable to the buyer;
5. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed
the licensee otherwise in writing;
6. Limited confidentiality, unless waived in writing by a party. This limited confidentiality will
prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer
will pay a price greater than the price submitted in a written offer, of the motivation of any party for
selling or buying property, that a seller or buyer will agree to financing terms other than those offered,
or of any other information requested by a party to remain confidential; and
7. Any additional duties that are entered into by this or by separate written agreement.
Limited representation means that a buyer or seller is not responsible for the acts of the licensee.
Additionally, parties are giving up their rights to the undivided loyalty of the licensee. This aspect of
limited representation allows a licensee to facilitate a real estate transaction by assisting both the
buyer and the seller, but a licensee will not work to represent one party to the detriment of the other
party when acting as a transaction broker to both parties.
I agree that my agent may assume the role and duties of a transaction broker. [must be initialed or
signed]
(4) NO BROKERAGE RELATIONSHIP.
(a) No brokerage relationshipduties.A real estate licensee owes to a potential seller or buyer
with whom the licensee has no brokerage relationship the following duties:
1. Dealing honestly and fairly;
2. Disclosing all known facts that materially affect the value of the residential real property which
are not readily observable to the buyer; and
3. Accounting for all funds entrusted to the licensee.
(b) Disclosure requirements.Duties of a licensee who has no brokerage relationship with a buyer
or seller must be fully described and disclosed in writing to the buyer or seller. The disclosure must be
made before the showing of property. When incorporated into other documents, the required notice
must be of the same size type, or larger, as other provisions of the document and must be conspicuous
in its placement so as to advise customers of the duties of a licensee that has no brokerage relationship
with a buyer or seller, except that the first sentence of the information identified in paragraph (c)
must be printed in uppercase bold type.
(c) Contents of disclosure.The notice required under paragraph (b) must include the following
information in the following form:
NO BROKERAGE RELATIONSHIP NOTICE
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES WHO HAVE NO BROKERAGE RELATIONSHIP WITH
A POTENTIAL SELLER OR BUYER DISCLOSE THEIR DUTIES TO SELLERS AND BUYERS.
As a real estate licensee who has no brokerage relationship with you, (insert name of Real Estate Entity and its
Associates) owe to you the following duties:
1. Dealing honestly and fairly;
2. Disclosing all known facts that materially affect the value of residential real property which are
not readily observable to the buyer.
3. Accounting for all funds entrusted to the licensee.
