Information For Buyers and Sellers
What You Should
Know As a Seller:
BROKERAGE
RELATIONSHIP DISCLOSURE
FLORIDA ASSOCIATION
OF REALTORS
IMPORTANT NOTICE
FLORIDA LAW REQUIRES THAT REAL ESTATE
LICENSEES PROVIDE THIS NOTICE TO POTENTIAL SELLERS AND BUYERS OF REAL
ESTATE.
You should not assume that any real estate
broker or sales person represents you unless you agree to engage a real estate
licensee in an authorized brokerage relationship, either as a single agent or
as a transaction broker. You are advised not to disclose any information you
want to be held in confidence until you make a decision on
representation.
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SINGLE AGENT
NOTICE
FLORIDA LAW REQUIRES THAT ESTATE LICENSEES
OPERATING AS SINGLE AGENTS DISCLOSE TO BUYERS AND SELLERS THEIR
DUTIES
-
Dealing honestly and
fairly
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Loyalty
-
Confidentiality
-
Full disclosure
-
Accounting for all funds
-
Skill, care, and diligence in the
transaction
-
Presenting all offers and counteroffers
in a timely manner, unless a party has previously directed the licensee
otherwise in writing
-
Disclosing all known facts that
materially affect the value of residential real property and are not readily
observable
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TRANSACTION BROKER
NOTICE
FLORIDA LAW REQUIRES THAT REAL ESTATE
LICENSEES OPERATION AS TRANSACTION BROKERS DISCLOSE TO BUYERS AND SELLERS THEIR
ROLE AND DUTIES IN PROVIDING A LIMITED FORM OF REPRESENTATION.
-
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 y a party. This limited confidentiality will prevent disclosure that
the seller will accept a price less than the asking or listed price, that the
buyer will pay a price greater than the price submitted in a written offer, of
the motivation of any party for selling or buying property, that a seller or
buyer will agree to financing terms other than those offered, or of any other
information requested by a party to remain confidential
-
Any additional duties that are entered
into by this or by separate written agreement
Limited representation means that a buyer or
seller is not responsible for the acts of the licensee. Additionally, parities
are giving up their rights to the undivided loyalty of the licensee. This
aspect of limited representation allows a licensee to facilitate a real estate
transaction by assisting both the buyer and the seller, but a licensee will not
work to represent one party to the detriment of the other party when acting as
a transaction broker to both parities.
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CONSENT TO TRANSITION
TO TRANSACTION BROKER
FLORIDA LAW ALLOWS REAL ESTATE LICENSEES WHO
REPRESENT A BUYER OR SELLER AS A SINGLE AGENT TO CHANGE FROM A SINGLE AGENT
RELATIONSHIP TO A TRANSACTION BROKERAGE RELATIONSHIP IN ORDER FOR THE LICENSEE
TO ASSIST BOTH PARTIES IN A REAL ESTATE TRANSACTION BY PROVIDING A LIMITED FORM
OF REPRESENTATION TO BOTH THE BUYER AND THE SELLER. THIS CHANGE IN RELATIONSHIP
CANNOT OCCUR WITHOUT YOUR PRIOR WRITTEN CONSENT.
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Call or email us for help, or to have your questions answered. There are no dumb questions! Fill out this form and we'll get right back to you...
 |
 In the history of the real estate industry, there has been a single approach to working with a real estate agent. If you wanted to purchase a home, an agent showed you properties on behalf of the sellers of those homes. As a buyer, you were not represented by anyone other than yourself. Negotiation over price and terms were entirely your responsibility.
Now there is another way to handle buying property. With buyer agency, your real estate sales associate acts on your behalf in all negotiations. That agent is committed to being your advocate in finding and purchasing your next home, and at no cost to you.
In many cities across the United States, buyer agency is used in the majority of home purchases. With buyer agency, all fiduciary duties are owed to the buyer, not to the seller. The buyer has the freedom to discuss personal finances, negotiating strategies and the value of properties with their buyer agent. The buyer can ask for the opinion of the buyer agent regarding the condition of the property, the effect of improvements, the seller's motivation for selling and a variety of other information thar the seller's agent cannot provide.
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- NUMBER1EXPERTS™ 
