Question

Which of the following best describes the practice of dual agency in Florida?

A) A situation in which a real estate agent represents both the buyer and the seller in the same transaction with their informed consent.
B) A situation where a real estate agent represents only the buyer in a transaction.
C) A situation where a real estate agent represents only the seller in a transaction.
D) A situation where a real estate agent is not allowed to represent both the buyer and the seller in the same transaction.

Answer 1

Dual agency in Florida is a situation in which a real estate agent represents both the buyer and the seller in the same transaction with their informed consent.

Step-by-step explanation:

The correct answer is A) A situation in which a real estate agent represents both the buyer and the seller in the same transaction with their informed consent.

Dual agency in Florida is a practice where a real estate agent represents both the buyer and the seller in a real estate transaction, as long as both parties are aware and give their informed consent. This means that the agent acts as an intermediary, providing guidance and assistance to both parties throughout the transaction.

For example, if a real estate agent represents a buyer who is interested in purchasing a property that is listed by the same agent, they would be engaging in dual agency. In this situation, the agent must remain neutral and act in the best interests of both parties.