What does a transaction broker owe you?
Section 475.01 of the Florida Statutes defines a transaction broker as a broker who provides limited representation to a buyer, a seller, or both, but does not represent either in a fiduciary capacity or as a single agent. Under section 475.278 (2026 Florida Statutes), all licensees are presumed to be operating as transaction brokers unless a single agent or no brokerage relationship is established in writing.
Limited representation still carries duties that are written into the statute:
- Dealing honestly and fairly
- Accounting for all funds
- Using skill, care and diligence in the transaction
- Disclosing all known facts that materially affect the value of residential property and are not readily observable to the buyer
- Presenting all offers and counteroffers in a timely manner, unless a party has directed otherwise in writing
- Limited confidentiality, unless waived in writing by a party
- Any additional duties mutually agreed to with a party[1][2]
What does limited confidentiality cover?
Unless a party waives it in writing, a transaction broker may not disclose that the seller will accept less than the asking or listed price, that the buyer will pay more than the price in a written offer, the motivation of either party for buying or selling, that either side will agree to financing terms other than those offered, or any other information a party asks to keep confidential.
The statutory notice explains that limited representation means a buyer or seller is not responsible for the acts of the licensee, and that the parties give up the right to the licensee's undivided loyalty. It also states that a transaction broker assisting both parties will not work to represent one party to the detriment of the other.[1]
How is a single agent different?
A single agent is a broker who represents, as a fiduciary, either the buyer or the seller, but not both in the same transaction. Section 475.278 lists nine single-agent duties: dealing honestly and fairly; loyalty; confidentiality; obedience; full disclosure; accounting for all funds; skill, care and diligence; presenting offers and counteroffers in a timely manner; and disclosing known facts that materially affect value and are not readily observable.
Single-agent duties must be disclosed in writing before or at the time you sign a listing or representation agreement, or before property is shown, whichever comes first. A third option, no brokerage relationship, carries only three duties: dealing honestly and fairly, disclosing known material facts that are not readily observable, and accounting for funds entrusted to the licensee. Florida law does not require you to enter a brokerage relationship at all, and it does not allow licensees to act as dual agents.
Which relationship fits your situation is a decision to make before you sign. For legal questions about a specific agreement, consult a Florida real estate attorney.[1][2]
Key takeaways
- Florida presumes every real estate licensee is a transaction broker unless a single agent or no brokerage relationship is established in writing.
- A transaction broker can assist the buyer, the seller, or both, with limited confidentiality but no fiduciary duty.
- A single agent owes one party fiduciary duties, including loyalty, obedience, confidentiality and full disclosure.
- Florida licensees may not operate as dual agents.
- Read the brokerage relationship disclosure before you sign anything with a licensee.
Sources
- [1]Florida Legislature — Section 475.278, Florida Statutes: Authorized brokerage relationships; presumption of transaction brokerage; required disclosures
- [2]Florida Legislature — Section 475.01, Florida Statutes: Definitions
Reviewed October 11, 2026. General real-estate information for Florida, not legal, tax, lending or insurance advice. Laws, rates and deadlines change — confirm property-specific facts with the agency cited, a Florida real-estate attorney, CPA or licensed insurance agent.