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The Brokerage Relationship Act
•Historically, there has been confusion among buyers and sellers regarding what role real estate licensee have in real estate negotiations. Sellers assume that real estate licensees represented their interests because sellers traditionally paid the commission. -Referring to a prospective purchaser as "my buyer" or "my client" may imply that the licensee is representing the buyer when in actuality the brokerage is representing the seller.
•Because of the confusion, the Florida legislature passed the Brokerage Relationship Disclosure Act. -Intended to inform and educate the public regarding the types of brokerage relationships that can be granted to a broker and the duties brokers have in each type of brokerage relationship.
information courtesy of Rowlett Real Estate School LLC and Captain Wayne Rowlett. Visit our website for a full line up of online real estate courses and traditional classroom schedule in Panama City Beach Florida and Destin Florida.
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