In Florida, a transaction broker:
Question & Answer
Review the question and all answer choices
Represents the buyer only
Option A is incorrect because transaction brokers do not represent only the buyer. Their role is to facilitate the transaction for both parties without advocating for either, which is different from a buyer's agent relationship.
Represents the seller only
Option B is incorrect because transaction brokers do not represent only the seller. Their limited representation extends to all parties in the transaction, unlike a seller's agent who exclusively represents the seller's interests.
Provides limited representation to both parties
Is not a legal relationship in Florida
Option D is incorrect because transaction brokerage is indeed a legal relationship recognized in Florida. It was established by statute to provide a brokerage option without full fiduciary duties to either party.
Why is this correct?
Option C is correct because Florida law specifically defines transaction brokers as providing limited representation to both parties in a transaction without acting as an advocate. This is a distinct agency relationship that falls between traditional agency and no agency relationship.
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