License Law & RulesQuestion 27 of 120
A real estate licensee who represents a buyer or seller with limited representation, not as a fiduciary, is acting as a:
a.Single agent
b.Designated sales associate
c.Transaction broker
d.Dual agent
Explanation
A transaction broker provides limited representation and owes duties such as dealing honestly and fairly, accounting for funds, and disclosing known material facts, but not full fiduciary loyalty. This is Florida's default relationship. It differs from a single agent, who owes full fiduciary duties.
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- Which Florida body is primarily responsible for administering and enforcing the real estate license law under Chapter 475?
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