Notice of Disclosure

 

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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.