A seller (or a buyer) may want to be represented by a real estate broker. In this case, the real estate broker is a single agent who represents the seller as a fiduciary in selling the home or the buyer in finding a home. The Florida real estate license 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 relationship, the seller (or the buyer) is the principal and the real estate 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.
Subagents are persons authorized to assist and represent the agent. A subagent has the same duties as the agent. A broker's sales associates are general agents of the broker and subagents of the broker's principals. For example, in a single agent relationship, the broker is an agent of the principal. The broker's sales associates and broker associates are subagents of the broker's principals. Sales associates and broker associates owe the same fiduciary obligations to the broker's principals as does their broker. Note that this is true regardless of whether the associates, for tax purposes, are employees or independent contractors of the broker.
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