Understanding Real Estate Representation in Florida: Single Agent, Transaction Broker, and No Brokerage Relationship
When buying or selling a home in Florida, it’s important to understand the different types of real estate representation available to you. Florida law allows for three distinct types of relationships between real estate professionals and their clients: Single Agent, Transaction Broker, and No Brokerage Relationship. Each offers a different level of service and legal responsibility. Here’s a breakdown to help you make an informed decision.
1. Single Agent Representation
A Single Agent works exclusively for either the buyer or the seller, never both. This type of representation creates a fiduciary relationship, meaning the agent is legally bound to act in the client’s best interests.
Duties of a Single Agent include:
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Full loyalty
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Confidentiality
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Obedience
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Full disclosure
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Accounting for all funds
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Skill, care, and diligence
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Presenting all offers and counteroffers
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Disclosing all known facts that affect the property's value
This is the highest level of representation under Florida law, offering clients full advocacy. However, a brokerage cannot represent both the buyer and seller as single agents in the same transaction.
2. Transaction Broker Relationship
A Transaction Broker provides limited representation to both parties in the same transaction—buyer and seller—without fiduciary duties. This is the default relationship in Florida unless another form is established in writing.
Duties of a Transaction Broker include:
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Dealing honestly and fairly
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Accounting for all funds
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Using skill, care, and diligence
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Disclosing all known facts that affect the property’s value
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Presenting all offers and counteroffers
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Limited confidentiality (e.g., not revealing a buyer’s top offer or a seller’s bottom line)
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Performing any additional duties agreed to in writing
This approach facilitates a smoother transaction in situations where neutrality is preferred, but it doesn’t include the full loyalty you’d get from a single agent.
3. No Brokerage Relationship
In this case, the real estate licensee does not represent you at all. They may still work with you by providing limited services, such as showing a property or writing up an offer, but they owe no fiduciary or negotiation duties.
Duties in a No Brokerage Relationship:
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Dealing honestly and fairly
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Disclosing all known facts that affect the property’s value
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Accounting for all funds
This type of relationship is often used when a buyer or seller already has representation or wants to manage the deal independently but still needs some assistance.
Which One Should You Choose?
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Choose a Single Agent if you want full representation and someone solely committed to your best interests.
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Choose a Transaction Broker if you're comfortable with limited representation and prefer a smoother transaction where the agent helps both sides.
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Choose No Brokerage Relationship if you're experienced in real estate or already working with another professional and don’t need full service.
Final Thoughts
Understanding these options empowers you to make the best decision for your situation. In Florida, real estate professionals are required to disclose their relationship status in writing, so don’t hesitate to ask questions before you sign anything. Knowing who’s working for you—and how—is a key step toward a confident and successful real estate transaction.
Thinking about buying or selling in Naples?
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📞 Call Brian J Giacomello at 239-281-5269
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