Know Your Relationship Status

Know Your Relationship Status

 Image title   Knowing your relationship status when dealing with real estate protects you, the Client and the Broker. No matter if you are a first-time buyer, if it's been years since you bought or sold real estate you need to know your choices. 

    In the State of Florida there are mainly three different types of Client/Broker relationships you can enter in. Let me give you a brief explanation of the three.

Transaction Broker

This is the most common and often presumed type of Broker relationship. This type of relationship allows real estate agents to faciiitate a transaction by assisting both the buyer and the seller, but will not work to represent one party to do disservice to the other. 

Transaction Broker duties include:

  • 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 by a party. 

Single Agent 

Single Agent relationships are created when the entire Agency represents only one part of a transaction and act solely on the behalf of a Client (Buyer or Seller).

Single Agent duties include:

  • Dealing honestly and fairly.

  • Loyalty.

  • Confidentiality.

  • Obedience.

  • 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.

No Brokerage

A Client can choose not to be represented by a real estate Broker. The Broker can facilitate the sale or the purchase of real property without entering into either a single agent or transaction broker relationship. 

No Brokerage duties include:

  • Deal honestly and fairly.

  • Disclose all known facts that materially affect the value of residential real property that are not readily observable to the Buyer.

  • Account for all funds entrusted to the licensee.



Jane Gao Headshot
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Phone: 407-873-2883
Dated: October 21st 2015
Views: 543
About Jane: Help you find your perfect home is my passion! No matter you are looking for primary residence, vaca...

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