Agency
A Florida single agent who is also a co-buyer in a transaction they are handling for a client must:
ASimply proceed as their own agent
BDisclose in writing their status as both agent and buyer to the client✓ Correct
CHave the client hire a separate attorney
DTerminate the agency relationship before purchasing
Explanation
When a licensee is both an agent and a party to the transaction (e.g.
People Also Study
Related Florida Questions
- In Florida, when must a licensee disclose their agency status to a customer (not client)?Agency
- When must a Florida real estate licensee disclose their licensed status to a party in a transaction where the licensee has a personal interest?Florida License Law
- A Florida real estate licensee who also holds a mortgage broker license refers a real estate client to their own mortgage company without disclosing this relationship. This failure to disclose violates:Florida License Law
- Under Florida law, a licensee may accept a referral fee or compensation from a party other than their employing broker only if:Florida License Law
- Under Florida law, a real estate licensee who is a principal in a transaction (buying or selling their own property) must:Contracts
- In Florida, a real estate licensee who has a material interest in a property being purchased by their client must:Agency
- A Florida licensee who fails to disclose their agency status before showing property to a potential buyer has violated:Agency
- Under Florida law, a real estate license applicant who was convicted of a felony must disclose this on their application. FREC's decision on whether to issue the license will consider:Florida License Law
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Study This Topic
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →