Agency
Under Florida law, a broker acting as a transaction broker is NOT required to disclose which of the following to the buyer?
AKnown material defects in the property
BThe seller's motivation for selling or their bottom-line price✓ Correct
CThe existence of all written offers on the property
DEnvironmental hazards known to affect the property
Explanation
Transaction brokers owe limited confidentiality — they are NOT required to disclose the seller's motivation for selling or their minimum acceptable price (the bottom line). This confidentiality is a key difference between transaction brokerage and single agency.
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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.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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