What are the differences between an agent and a broker?

An agent and a broker are two distinct roles in a business transaction law in Florida. An agent is someone employed by one party to represent them in negotiations or in the completion of a transaction. An agent acts on behalf of their principal and carries out their instructions. They have a fiduciary responsibility to their principal and must act in their best interest. A broker, on the other hand, is not appointed to represent any one particular party. Instead, they work as an intermediary to bring the two parties together to complete a business transaction. Brokers act as a neutral third-party and use their knowledge and expertise to negotiate a deal between the two parties. They do not have a fiduciary responsibility to either side and are not required to represent either side’s interests. In summary, the main difference between an agent and a broker is that an agent is employed by one party to represent them, while a broker is a neutral third-party who works to bring both sides together to complete a business transaction. Agents have a fiduciary responsibility to their principal, while brokers do not.

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