The Florida state law defines a single agent as a broker who represents, as a fiduciary, either the buyer or the seller, but not both, in the same transaction.  In a single agent realtionship, the seller (or the buyer) is the principal and the real estae broker is the agent.  The term principal is used to mean the party with whom a real estate licensee has entered into a single agent relationship.

There are 9 duties that a real estate licensee owes to a buyer or a seller who engage the real esate brokerage as a single agent.

  1. Deal honestly and fairly
  2. Loyalty
  3. Confidentiality
  4. Obedience
  5. Full disclosure
  6. Account for all funds
  7. Skill, care, and diligence in the transaction
  8. Present all offers and counteroffers in a timely manner
  9. Disclose all known facts that materially affect the value of residential real property and are not readily observable to the buyer