Designated Sales Associate

Q: As a commercial broker, may I have one of my sales associates act as a single agent for the buyer and one for the seller? 

A: Yes. Section 475.2755, Florida Statutes (the “Designated Sales Associate” law) provides that in any transaction other than a “Residential Sale” as defined in Section 475.278 (5) (a), “The broker at the request of the customers may designate sales associates to act as single agents for different customers in the same transaction” provided the buyer and seller each have assets of $1 million or more and provided the disclosure requirements of the statute are satisfied.