Which? Buyer's Broker or Transaction Broker for your Tallahassee Home?

Reblogger Merline D Pennant - New homes, Short Sales and Pre-foreclosures
Real Estate Broker/Owner with Regal Realty of the Treasure Coast LLC

This applies to buyers in South Florida also.

It is far better to have a buyer's broker than a transaction broker as the information states below that representation is limited. 

I have found that buyers who do not wish to sign a buyer's brokerage agreement have no loyalty to their agent.  Therefore if you have not loyalty to your agent, why would your expect your agent to be loyal to you.  Definitely food for thought.

Original content by Fred Griffin, on leave of absence from ActiveRain Florida Broker BK436788

     Tallahassee Home Buyers, what kind of Brokerage Relationship do you want with your Real Estate Agent?  Do you want a Buyer's Broker who is Loyal to you, who has Confidentiality with you, who must Obey your lawful instructions?  Do you want the Agent to tell you the Seller's motivation, and whether or not the Seller will take less than Asking Price? 

     Or, are you okay with a Transaction Broker, who legally has No Loyalty to you?  Do you care that by Law, the Transaction Broker can only give you Limited Confidentiality, and only a Limited Form of Representation?

     The choice is obvious.  You want a Buyer's Broker (legally defined in Florida as a Single Agent).  Only a Buyer's Broker has your best interests at heart! 

Florida Statutes 475.278

     Look at the image below from the Florida Statutes... this is THE LAW for Single Agents in Florida!

Buyer Broker Single Agent Tallahassee, Florida Buyer's Broker

 

     So what's the Difference with a Transaction Broker?

    Do you know that a Transaction Broker can legally provide only a "Limited Form of Representation"

     Do you want "Limited Confidentiality" when you Buy a Home in Tallahassee, Florida?  Do you care if the Real Estate Agent for your New Home in Tallahassee is not loyal to you?  

     A Transaction Broker is prohibited by LAW from telling you, "...the seller will accept a price less than the asking or listed price..."*

     See the image below from the Florida Statutes regarding Transaction Brokers in Florida.

Transaction Broker F.S. 475.278

     Transaction Brokers offer No Loyalty, No Obedience, Limited Confidentiality, and only Limited Representation.  WHY would you as a Buyer settle for that?

____________________________________ 

    You want a Buyer's Broker who LEGALLY owes you Loyalty, Confidentiality, and Obedience! 

     Florida Law defines a Broker who represents only one Party (in this case, YOU, the Buyer) as a "Single Agent".  Pursuant to Florida Law, only a Single Agent who has provided a written disclosure to you can provide Loyalty, Confidentiality, and Obedience.* 

    A Transaction Broker cannot LEGALLY offer you Loyalty, Confidentiality, and Obedience, short of a written waiver from both Buyer and Seller!*

     Florida Law says, if you do not have a WRITTEN Single Agent Disclosure from the Agent, that Agent is PRESUMED to be a Transaction Broker! 

____________________________________

IMPORTANT!

     Do you have a Single Agent Notice from the Agent that is helping you Buy a Tallahassee House? 

     Without this Statutory Notice, it is lawfully presumed that the Real Estate Agent is working with you in a Transaction Brokerage Relationship.  Without this Notice, you most likely do NOT have a Single Agent Relationship with the Agent. They are most likely NOT your Tallahassee Buyer's Broker!

     The Single Agent Notice is required by Florida Statute 475.278 to have these EXACT words:

Single Agent Notice F.S. 475.278

____________________________________

     Excerpt from the Florida Statutes regarding Transaction Brokerage Relationship:

     F.S. 475.278 (2)(f) 

     "Limited confidentiality, unless waived in writing by a party. This limited confidentiality will prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than those offered, or of any other information requested by a party to remain confidential; and..."

____________________________________

 

     Tallahassee Home Buyers, what kind of Real Estate Agent do you want?  Do you want a Buyer's Broker who is Loyal to you, who has Confidentiality with you, who must Obey your lawful instructions?  Only a Buyer's Broker, legally defined as a "Single Agent", has your best interests at heart! 

 

     *See an Attorney for legal advice; see an Attorney for a more detailed explanation of Florida Brokerage Relationships; see an Attorney to complete any written waiver pursuant to F.S. 475.278.

 

 

Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Frederick Griffin, Licensed Real Estate Broker       Tallahassee, Florida       850-339-4861

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     Buying or Selling a Home in Tallahassee, Florida?  You need the services of a trusted, dedicated Real Estate Broker when making the biggest financial transaction of your life! 

Call Fred  850-339-4861

Email Fred

Visit Fred's Website

 

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Frederick Griffin, Licensed Real Estate Broker       Tallahassee, Florida       850-339-4861

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Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Merline.  Thanks for Reblogging this! 

Nov 20, 2013 10:32 PM #1
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