If you don’t sign anything that states you’re being represented as a single agent, then the assumed relationship is transaction brokerage.
Single Agent
How I represent my clients
SINGLE AGENT RELATIONSHIP - A Single Agent is defined by Florida Statutes Chapter 475, Part I (2015) as a broker who represents either the buyer or the seller of real estate, but not both in the same transaction. It is the HIGHEST FORM OF REPRESENTATION ALLOWED IN FLORIDA, providing the most confidence that the Realtor represents only the customer's interest.
IMPORTANT NOTE: The Duties of a single agent that must be fully described and disclosed in writing to a buyer or seller in agreements for representation include the following:
1. Dealing honestly and fairly;
2. Loyalty;
3. Confidentiality;
4. Obedience;
5. Full disclosure;
6. Accounting for all funds;
7. Skill, care, and diligence in the transaction;
8. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing; and
9. Disclosing all known facts that materially affect the value of residential real property and are not readily observable.
Transaction Broker
How most agents represent their customers
TRANSACTION BROKER RELATIONSHIP - A Transaction Broker provides a limited form of representation to a buyer, a seller, or both in a real estate transaction but does not represent either in a fiduciary capacity or as a single agent. The duties of the real estate licensee in this limited for of representation include the following:
IMPORTANT NOTE: Section 475.278(1)(B), Florida Statutes (2015), Presumption of transaction brokerage.—It shall be presumed that all licensees are operating as transaction brokers unless a single agent or no brokerage relationship is established, in writing, with a customer.
1. Dealing honestly and fairly;
2. Accounting for all funds;
3. Using skill, care, and diligence in the transaction;
4. Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer;
5. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing;
6. Limited confidentiality, unless waived in writing by a party. This limited confidentiality will prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than those offered, or of any other information requested by a party to remain confidential; and
7. Any additional duties that are mutually agreed to with a party.