News & Information: ORRA BrokerWise

Section 475.278 (1), Florida Statutes: brokerage relationships

Wednesday, April 11, 2012  
Share |

Section 475.278 (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.

Read all of Section 475.278

Read all of Chapter 475, Part I (outline)


ORRA Partners
ORRA would like to thank our Partners for their continuing support.
View the full list of ORRA Partners.