Definition: The principal's prior written agreement allowing a Florida single-agent relationship to change to a transaction-broker relationship.
Example
Before changing how the brokerage represents a seller, the single agent obtains the seller's written consent using the required disclosure.
Keep the distinction clear
The change is not automatic. Transaction brokerage provides limited representation and differs from the fiduciary duties owed by a single agent.
Related terms
Single Agent · Transaction Broker · Transaction Broker
Keep studying
References: Florida Statutes 475.278
Comments
0 comments
Article is closed for comments.