Florida Broker Practice Exam

If a broker firm has a single agent relationship with a seller, can it work with the buyer?

1. Yes

2. No

3. With mutual agreement

4. Depending on the market conditions

The correct answer is: No

In a single agent relationship, the broker represents only one party in the transaction—either the seller or the buyer. When a broker has a single agent relationship with a seller, they owe loyalty and fiduciary duties exclusively to that seller. This means the broker cannot simultaneously represent the interests of the buyer in the same transaction because doing so would create a conflict of interest. The broker's obligation is to act in the best interest of the seller, which could undermine their ability to fairly represent the buyer. Therefore, the firm cannot work with the buyer while maintaining a single agent relationship with the seller. In such cases, if the buyer were to approach the broker, the broker would need to disclose their relationship with the seller and potentially direct the buyer to another firm or agent to ensure that both parties have independent representation. This is to uphold the ethical standards and legal requirements surrounding real estate transactions.