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DISCLOSURE LAWS
REAL ESTATE HAS
SOMETHING NEW CALLED THE BROKERAGE
RELATIONSHIP DISCLOSURE LAW
As of October 1, 1997 the
Florida legislature enacted a new law to help
you, the consumer. It is our desire to keep you
informed and we feel the following points of
reference will help to update you regarding this
position. An informed consumer tends to make
clear decisions on his/her behalf, and in turn
makes the buying/selling process an easier and
more enjoyable experience for all parties.
A broker can no longer
act in the capacity of Dual Agent.
All real estate
brokerages must decide whether they will do
business as a Single Agent (for buyer or
seller), as a Transaction Broker, or in a
Nonrepresentation capacity.
With Single Agency
representation both buyers or sellers will
receive full representation by their REALTOR
except when the represented buyer wants to
view and/or purchase a listed home by the
same brokerage firm, commonly referred to as
an in-house listing. In this situation both
parties can either agree (before the showing
of said property takes place) to have their
REALTOR transition to Transaction Broker, or
the buyer can choose a position of
Nonrepresentation for this particular
showing/purchase.
As a Transaction Broker
the buyer and seller will receive limited
representation in all transactions; however,
the REALTOR/Broker cannot act to the
detriment of either party.
The law has not changed the
fact that the REALTOR is in the 'service
business', and should never lose site of this
fact. In that capacity, Harvey, Kelly and I
(Barbara), as professionals, are committed to
helping you sell or buy a home in an honest,
honorable, efficient, and timely manner. We
cannot make any of the choices for you,
including your choice of representation, but we
can make the business of buying or selling a
home as enjoyable and uncomplicated as possible.
Since we are not in the practice of law we are
not allowed to explain/interpret clauses within
contracts. Any questions regarding the
disclosure forms, contracts, etc. should be
referred to your attorney for an informed
explanation and counsel. If you do not presently
have legal counsel we can provide you with a
list of local attorneys for your consideration. |