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single agent: Relationship Disclosure
- 04/06/12 10:44 PM
Sellers assume that real estate licensees represent their interests because sellers are 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.
The Relationship Disclosure Act is 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
In all real estate transactions, … (2 comments)
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single agent: Preparing the Customer to Buy
- 02/19/12 07:39 PM
The successful sales associate will prepare the customer for signing the contract long before the right property is found. After qualifying the buyer's, the sales associate should give the buyer a copy of the contract for purchase and sale and explain the more important paragraphs to the buyer.The explanation of the contract serves two important functions:
If the buyer receives important information from the sales associate at their first meeting, this works to cement the buyer’s loyalty to the associate. When the buyer becomes interested in a particular property, they are not startled when the sales associate pulls out a contract … (1 comments)
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single agent: Single Agent Full Disclosure
- 05/28/11 02:56 AM
It is the brokers duty to keep the principal fully informed at all times of all the facts or information that might affect the transaction or the value of the property.-Full, fair and prompt disclosure of all material facts must be revealed to the principal even if the disclosure of such facts might cause the transaction to fail. -Even For Example: The buyers financial condition, the status of the earnest money deposit , or if a personal relationship exists between the agent and the buyer. -Agents may be held responsible for material facts they should have known and communicated but did … (0 comments)
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single agent: Subagents
- 05/28/11 02:38 AM
Subagents are persons authorized to assist and represent the agent.A broker's sales associates are general agents of the broker and subagents of the broker's principals.
Duties are delegated by the original agent-Sales associate is an agent of the broker-In single agency, broker is an agent of the principal-Sales associate is a subagent of the principal-Sales associates owe same fiduciary obligations to the principal as does broker Information is courtesy of Rowlett Real Estate School LLC and Captain Wayne Rowlett.
For information on our classroom courses and online courses visit our website at www.rowlettrealestateschool.com Check out our website for a full line … (1 comments)
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single agent: Transaction Broker Relationship
- 05/28/11 02:19 AM
A transaction broker is a broker who provides limited representation to a buyer, a seller or both in a real estate transaction, but who does not represent either party in a fiduciary capacity or as a single agent. Under Florida law, it is presumed that all licensees are operating as transaction brokers unless a single agent or no brokerage relationship is established, in writing, with the customer.
Information is courtesy of Rowlett Real Estate School LLC and Captain Wayne Rowlett.
For information on our classroom courses and online courses visit our website at www.rowlettrealestateschool.com Check out our website for a full … (2 comments)
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single agent: Florida Brokerage Relationships
- 03/20/11 01:48 PM
•The Brokerage Relationship Disclosure Act is important to licensees in two principal areas:-It describes the type of brokerage relationship a licensee may have with a customer.-It requires disclosure of the brokerage relationship a licensee has with a customer. This section of the law applies only to licensees dealing in residential property sales.
·A real estate licensee may have brokerage relationships with potential buyers and sellers, either as single agents or as transaction brokers.
-It is illegal for a licensee to be a dual agent. A licensee may also work with a customer in a no brokerage relationship.
·It is legally presumed that … (1 comments)
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Sellers assume that real estate licensees represent their interests because sellers are 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.
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