Florida has long had 3 basic types of agency relationships between real esate consumers and licensees: Single Agency Broker, Transactional Broker and a No Brokerage realtionship. Currently all consumers are ASSUMED to be acting in a Transactional Broker relationship with the agent UNLESS AND UNTIL another form of agency is entered into such as the No Brokerage Relationship which specifies that:
As a real estate licensee who has no brokerage relationship with you, (insert name of Real Estate Entity and its Associates) owe to you the following duties:
1. Dealing honestly and fairly;
2. Disclosing all known facts that materially affect the value of residential real property which are not readily observable to the buyer.
3. Accounting for all funds entrusted to the licensee.
