Agency
A Florida seller signs a listing agreement creating a single-agency relationship. The broker then finds a buyer who also wants representation. The broker must:
AImmediately represent both buyer and seller as dual agent
BObtain written consent from the seller to transition to transaction broker status✓ Correct
CDrop the seller and only represent the buyer
DRefer the buyer to another broker with no further obligation
Explanation
In Florida, a broker cannot represent both parties as a dual agent (dual agency is not recognized under Florida law). To assist both parties, the broker must obtain written consent from the seller to transition from single agent to transaction broker.
Related Florida Agency Questions
- A listing broker in Florida is showing an in-house listing to a buyer who is not represented. The MOST appropriate course of action is to:
- Under Florida's Brokerage Relationship Disclosure Act, the default brokerage relationship (when no written agreement exists) is:
- A Florida buyer's agent discovers their buyer has a history of defaulting on mortgages. The agent should:
- A Florida broker is serving as a transaction broker for both buyer and seller in the same transaction. What disclosure must be provided?
- A Florida listing broker receives two offers simultaneously — one full price and one below list. The broker must:
- A Florida seller's single agent receives an offer below list price. The seller rejects it. The agent should:
- Which of the following is a characteristic of an 'implied agency' in Florida real estate?
- In Florida, a 'transaction broker' owes which of the following duties to both parties?
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