State of Florida Brokerage Agency Disclosure Laws & Requirements
Transaction Broker Relationship Notice
Currently, all licensees are presumed to be operating as transaction brokers unless a single agent or no brokerage relationship is established in writing. (Section 475.278(1)(b), Florida Statutes)
The law that required a transaction broker notice to be provided expired on July 1, 2008. However, a broker is still permitted to give this notice to a buyer if the broker wants the buyer to understand what a transaction broker relationship is.
Brokerage relationship disclosure requirements apply to residential transactions. Agricultural property is considered residential only if it is 10 acres or less, so these requirements do not apply to agricultural property larger than 10 acres. (Section 475.278(5)(a), Florida Statutes)
The disclosure requirements of the Brokerage Relationship Disclosure Act don’t apply to the rental or leasing of real property. The only exception is when tenants of properties with four or fewer units are given an option to purchase all or a portion of the property. (Section 475.278(5) (b)(2), Florida Statutes)