When you speak with a Florida real estate agent about buying a home or piece of property, have you ever wondered who they work for? Does the agent work for you or the seller? While there is no one right answer, there are some basic things you should know.
First, you should not assume that any real estate broker or salesperson represents you unless you have agreed to engage that person in an authorized brokerage relationship, either as a single agent or as a transaction broker.
Second, if you call a telephone number from an ad or sign, you are more than likely going to be speaking with the seller's agent who listed the property. That agent has a legal obligation to obtain the best possible price and terms for the seller without being dishonest or unethical with you. Additionally, the seller's agent is required to report to the seller all the information you disclose. So be cautious until you know who you are dealing with!
To help you out, the State of Florida requires all real estate agents to provide you with a written agency disclosure at your first meeting. Until you receive the notice and understand your relationship with the agent, you should not disclose any information you want to be held in confidence. Simply click on the links and you may view samples of Florida's No Brokerage Relationship Disclosure, Single Brokerage Relationship Disclosure, or Transactional Brokerage Relationship Disclosure.
When you receive a copy of the "No Brokerage Relationship Disclosure" from an agent, the agent will request that you sign and date the form. Signing the form puts you under no obligation to the agent; it only signifies that you read the form. The agent may ask if she or he may represent you in finding the right home or property. If you agree, the agent will give you one of the other two forms to read and sign. Make sure the agent explains your rights under the particular disclosure form. Again, the agent is obligated to provide you with a copy of the form you sign for your records
If you would like more information on this subject, here is a link to an article by H. Glenn Boggs, a professor in the Department of Risk Management/Insurance, Real Estate and Business Law, College of Business, Florida State University. |
