What You Should Know About .......
"Single Agent"
"Transaction Broker"
" Nonrepresentation"
What this means to you as a Home buyer
Real Estate agents in Florida are required by law to inform consumers in writing who they represent.
In today's real estate market if you want to sell a house, you can hire an agent who is a "seller’s agent," or if you want to buy a home you can work with a "buyer’s agent," or in some cases you can engage a real estate agent to represent the "transaction"
This synopsis offers an overview of the choices. For in depth answers to your questions just give us a call for a confidential interview to discuss the right option for you.
As of October 1, 1997 Florida Law requires these disclosures explaining single agent, transaction broker & nonrepresentation.
Keep in mind the goal of all real estate agents is the same - to help bring about the sale or purchase of a home. Expect to be treated with honesty regardless of agency relationship. Together buyer, seller, and agents get the job done!
SINGLE AGENT-
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES OPERATING AS SINGLE AGENTS DISCLOSE TO SELLERS AND BUYERS THEIR DUTIES. As a Single Agent RE/MAX Town & Country Realty and I owe you the following duties (1) Dealing honestly and fairly; (2) Loyalty (3) Confidentiality; (4) Obedience, (5) Full disclosure; (6) Accounting for all funds; (7) Skill, care, and diligence in the transaction and (S) Presenting all offers and counteroffers in a timely manner, unless e party has previously directed the licensee otherwise in writing.
Permission TO CHANGE TO TRANSACTION BROKER-
FLORIDA LAW ALLOWS REAL ESTATE LICENSEES WHO REPRESENT A SELL ER OR BUYER AS A SINGLE AGENT T0 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 BOTH THE BUYER AND THE SELLER. THIS CHANGE IN THE RELATIONSHIP CANNOT OCCUR WITHOUT YOUR PRIOR WRITTEN CONSENT.
TRANSACTION BROKER-
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES OPERATING AS TRANSACTION BROKERS DISCLOSE T0 BUYERS AND SELLERS THEIR ROLE AND DUTIES IN PROVIDING A LIMITED FORM OF REPRESENTATlON.
As a transaction broker RE/MAX Town & Country Realty and I provide you a limited form of representation that includes the following duties: (1) Dealing honestly and fairly; (2) Accounting for all funds; (3) Using skill, care, and diligence in the
Disclosing all known facts that materially affect the values of the property and are not readily Observable to the buyer; (5) Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing; (6) Limited confidentiality, unless waived in writing by 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 e 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; and (7) 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, parties ere 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 part to the detriment of the other party.
NOTICE OF NON-REPRESENTATION
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES PROVIDE THIS NOTICE AT FIRST CONTACT TO ALL POTENTIAL SELLERS AND
BUYERS OF REAL ESTATE.
You are hereby notified that REMAX Town & Country Realty end I do not represent you in any capacity. You should not assume that any real estate broker or salesperson represents you unless you agree to engage e real estate licensee in an authorized brokerage relationship, either as a single agent or as e transaction broker. You are advised not to disclose any information you want to be held in confidence until you make a decision on representation.