Florida Broker Practice Exam

If a broker firm has a transaction broker relationship with a seller, can it also work with the buyer?

1. Yes

2. No

3. Only with written consent

4. Only if agreed upon verbally

The correct answer is: Yes

In Florida, a broker can establish a transaction broker relationship with one party and simultaneously work with another party in the same transaction. This is permitted as long as the broker maintains the role of a transaction broker, which involves providing limited representation to both the seller and the buyer. In this scenario, the transaction broker is obligated to act in a neutral capacity, facilitating the transaction without being an advocate for either party. This ensures that the broker can assist both the seller and the buyer while adhering to the duties of honesty, fairness, and full disclosure. This flexibility allows brokers to serve both sides of a real estate transaction, maximizing their business opportunities while staying compliant with Florida real estate laws. The important aspect here is that while a transaction broker can work with both parties, they must not do so in a manner that compromises their impartiality or creates conflicts of interest.