FL Real Estate Ch 4 Key Terms

A representative; one who is authorized to act on behalf of another.

One with whom the broker or sales associate hopes to be successful in accomplishing the purpose of employment.

Two real estate licensees designated to represent the buyer and the seller as single agents in a nonresidential transaction. The buyer and seller must have assets of $1 million or more and sign disclosures stating their assets meet the required thresholds.

A broker who represents both the buyer and seller of a transaction in a fiduciary capacity.

A person in a position of trust and confidence with respect of another person.

The intent to misrepresent a material fact or to deceive to gain an unfair advantage or to harm another person.

A representative authorized by the principle to perform only acts related to a business or to employment of a particular nature.

A false or misleading statement of a material fact; concealment of a material fact.

The party employing the services of a real estate broker

A broker who represents, as a fiduciary, either the buyer or seller but not both in the same transaction.

One authorized by a principal to perform a particular act or transaction, without contemplation of continuity of service as with a general agent.

A broker who provides limited representation to a buyer, seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent.

A representative authorized by the principal to perform all acts that the principal can personally perform and that may be lawfully delegated to another.