Broker Mike has been working as a single agent for seller Janet for 60 days. A potential buyer approaches Mike directly and asks him to also represent them in purchasing Janet's property. Mike wants to help both parties. What is the correct procedure for Mike to follow under Florida law?
Correct Answer
B) Mike must terminate his single agent relationship with Janet and become a transaction broker for both parties
Correct: Florida law does not recognize dual agency. When a single agent wants to work with both parties, they must terminate the single agent relationship and transition to transaction broker status for both parties, with proper disclosure and consent. Why not A: Dual agency is not authorized under Florida law. Why not C: While this is an option, it's not the only correct procedure if Mike wants to work with both parties. Why not D: Designated sales associate arrangements don't apply to this situation, and dual representation still isn't permitted.
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More Authorized Relationships Disclosures Questions
Consent to transition from single agent to transaction broker in Florida must be:
In Florida, the default brokerage relationship when no disclosure is made is:
A Florida licensee working with a customer in a no brokerage relationship:
Agent Rodriguez discovers that a property has had previous termite damage that was repaired. The seller instructs Rodriguez not to disclose this information to potential buyers. What should Rodriguez do?
Which brokerage relationship is presumed in Florida unless otherwise disclosed?
- → A Florida single agent must provide which disclosure?
- → Which duty is NOT owed by a Florida transaction broker?
- → A Florida single agent owes the principal all duties EXCEPT:
- → A Florida transaction broker owes limited confidentiality. This means:
- → Florida requires brokerage relationship disclosure be provided:
- → In Florida, a transaction broker:
- → In Florida, the disclosure of brokerage relationship must be made:
- → In Florida, dual agency is:
- → Agent Lisa is working with buyer clients to purchase a waterfront property. All of the following disclosure requirements apply in Florida EXCEPT:
- → According to Florida law, when must a real estate licensee provide brokerage relationship disclosure to a customer?
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