FAQ: What Does Single Agency Mean?

By
Real Estate Agent with Berkshire Hathaway Home Services Florida Network Realty BK 3030920

Single Agency is a type of representation offered in Florida by real estate brokers.

It's important to note that the Broker chooses how the Associates/Realtors can represent their customers, so the Realtor makes their choice when they work for the Broker.

As a Single Agent, (and I am one) I owe my buyers and sellers the following duties:

  1. Dealing honestly & fairly
  2. Loyalty
  3. Confidentiality
  4. Full Disclosure
  5. Accounting for all funds
  6. Skill, care & diligence in the transaction
  7. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing
  8. Disclosing all known facts that materially affect the value of residential real property and are not readily observerable. 

You can see the differences between Transaction Broker are in bold, and if you missed my post about Transaction Brokerage, you can read it here: Transaction Brokerage.

 

Posted by

Carol Zingone is a full service Broker Associate proudly affiliated with Berkshire Hathaway HomeServices Florida Network Realty in Atlantic Beach, FL.  I help buyers and sellers locally, regionally, and internationally.  With hundreds of happy buyers and sellers over the course of my career, I'm thrilled to help first time buyers, military buyers, seniors, investors, 1031 exchange properties, short sales and REO's.  I have spent hours honing my expertise, including the designations of: Graduate Realtor Institute (GRI), Loss Mitigation Certification (LMC) , Short Sales, Foreclosures, REO's, (SFR), and Senior Real Estate Specialist (SRES).  I pride myself on providing excellent expertise to all buyers and sellers. Search the MLS via www.carolzingone.com  for Jacksonville and area listings!

 

Comments (7)

1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

We have been under Transaction Brokerage law and the state changed it to just brokerage law last November..

Jan 29, 2014 10:08 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Carol, another good post explaining the real meaning of being a single agent. And yes your post on being a transaction agent was good too. 

Jan 29, 2014 10:27 AM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

In Massachusetts we have buyer, seller and facilitator agency Carol.

Jan 29, 2014 08:25 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Oops and dual agency.

Jan 29, 2014 08:25 PM
Peter den Boer
Atlanta Communities - Woodstock, GA
MBA,GRI, Associate Broker, Realtor

Carol - Interesting. In Ga. we can be one of several different types of agency.

Jan 29, 2014 10:00 PM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Carol, your single agent duties are very much like ours. Explained very well for consumers.

Jan 30, 2014 12:49 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

This is my Team's default Agency position- representing 1 client per address ! We do all we can to avoid deliberate Dual Agency(which results in an agent losing their ability to be an advocate)

Feb 03, 2014 09:44 PM