The bill amends section 475.278 of the Florida Statutes to revise the duties of real estate licensees when providing representation to buyers and sellers. It introduces the term "limited confidentiality," which restricts the disclosure of certain sensitive information, such as a seller's willingness to accept a lower price or a buyer's willingness to pay more than their offer. The bill outlines specific duties for transaction brokers, including sharing information with other licensees, making properties available for showing, and advertising listings publicly within one calendar day of a written agreement unless the seller opts out. The seller's opt-out process is detailed, requiring a signed disclosure form that acknowledges the potential consequences of reduced marketing exposure.

Additionally, the bill updates the duties of single agents, incorporating similar requirements for sharing information and advertising properties. It emphasizes the importance of maintaining limited confidentiality and outlines the necessary disclosures that must be provided to clients. The changes aim to enhance transparency and ensure that both buyers and sellers are aware of their rights and the implications of limited representation. The act is set to take effect on July 1, 2025.