All Real Estate Agents are the same! OR are they?
There are 3 basic types of agency that a brokerage firm can assume: No Brokerage, Transaction Broker, and Single Agency. Florida does not require notice to the buyer or seller if working as a Transaction Broker so knowledge is key.
In a No Brokerage real estate transaction, the agent is just simply handling the paperwork. He or she cannot represent or negotiate on behalf of the buyer and/or seller.
A Transactions Broker is an agent who has limited representation to the buyer and/or the seller. Instead of being an advocate for the buyer or seller, the licensee is working for the contract. A transaction broker may not work to the detriment of either party in a real estate transaction but also cannot work to the benefit of the parties either. Again, Florida does not require notice to you in this type of brokerage. Transaction brokers often opt for this limited representation for financial gain and to avoid legal responsibility for both the broker and customer. To a transaction broker you are a customer.
Berkshire Hathaway HomeServices Florida Network Realty has opted to have their clients represented by Single Agents (in most cases*). As a single agent, I owe you the following: deal honestly and fairly; loyalty; confidentiality; obedience; full disclosure; accounting for all funds; skill, care and diligence in the transaction; present all offers and counteroffers in a timely manner; disclose all known facts that materially affect the value of the property and are not readily observable. I can also negotiate on your behalf.
This means that it is my duty to work for you with the highest degree of accountability as my client.
You have a choice. Do you want to be a customer or a client?
*At times, Florida State Law requires us to transition into a Transaction Brokerage role. When you are ready to become a client, I will sit down with you and give you a full disclosure so you are well informed.