A transaction broker is a broker who provides limited representation to a buyer, a seller, or both in a real estae transaction, but who does not respresent either party in a fiduciary capacity or as a single agent.   In this relationship, the seller (or the buyer) is considered to be a customer of the real esate broker and not a principal.   In a transaction broker relationship the buyer or seller (customer) is not responsible for the acts of a licensee.  Under Florida law, it is presumed that all licensees are operating as transaction brokers unless a single agent or no brokerage relationship is established, in writing, with the customer.

The 7 duties of a transaction broker are:

  1. Deal honestly and fairly
  2. Account for all funds
  3. Use skill, care and diligence in the transaction
  4. Disclose all known facts that materially affect the value of residential real property and are not readily observable to the buyer
  5. Present all offers and counteroffers in a timely manner
  6. Exercise limited confidentiality, unless waived in writing by a party
  7. Perform any additional duties that are mutually agreed to with a party