Florida law requires that real estate licensees disclose to all buyers or sellers of real estate at the point of first contact an agency relationship. In order that our customers receive the full benefit of our knowledge we prefer to deal with you as a Single Agent.
What is Single Agency?
Single Agency establishes a real estate fiduciary relationship of trust and confidence between the licensee as agent and the buyer as principal (Florida Statute section 475.01 (1) (f) and (k)). As a single agent the duties to the buyer include dealing honestly and fairly, loyalty, confidence, obedience (within the law), 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), and disclosuring all known facts that materially affect the value of residential property and are not readily observable.
With Single Agency Your Interests Come Before Our Own
We place your interest above all others, including our own. Most companies will chose to represent their customers as a Transaction Broker assisting both the buyer and the seller. It has a reduced level of liability and owes no fiduciary duties to the buyer or seller. In Florida, it is the assumed relationship between agent and buyer if not otherwise disclosed. There may be times when it is in the best interest of all concerned for us to transition from a Single Agency to Transaction Broker. We will discuss this with you only if we determine it is in your best interest.
Glenn R Hoover
