Florida 45-hour SL Post License Study Guide Correct 100

residential sale is defined as: - ANSWER property with four units or fewer, unimproved residential property intended for use of four units or fewer, or agricultural property of 10 acres or fewer. three types of required residential brokerage notices - ANSWER no brokerage relationship notice single agent notice consent to transition to transaction broker notice transaction broker owes the following seven duties to the customer: - ANSWER Dealing honestly and fairly. Accounting for all funds. Using skill, care, and diligence in the transaction. Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing. Limited confidentiality, unless waived in writing by a party. The transaction broker may not reveal to either party: that the seller might accept a price less than the asking or list price, that the buyer might pay a price greater than the price submitted in a written offer, the motivation of any party for selling or buying property, that a seller or a buyer will agree to financing terms other than those offered, and any other information requested by a party to remain confidential. Any additional duties that are entered into by this or a separate agreement. A single agent owes the following nine duties to the principal - ANSWER Dealing honestly and fairly