Realtor Agency DisclosureRealtor Agency Disclosure is something you will need to address if you buy real estate in Florida. As a Buyer or Seller, you should review your options. The following provides an overview of your choices.
Florida Law Requires That Real Estate Licensees Operating As Single Agents Disclose To Buyers and Sellers Their duties: 1. Dealing honestly and fairly; 2. Loyalty;
3. Confidentiality; 4. Obedience; 5. Full disclosure;
6. Accounting for all funds; 7. Skill, care, and diligence in the transaction;
8. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing; and
9. Disclosing all known facts that materially affect the value of residential real property and are not readily observable.
Florida Law Requires That Real Estate Licensees Who Have No Brokerage Relationship With A potential Seller Or Buyer Disclose Their Duties To Sellers And Buyers. 1. Dealing honestly and fairly; 2. Disclosing all known facts that materially affect the value of residential real property which are not readily observ¬able to the buyer.
3. Accounting for all funds entrusted to the licensee.
1. Dealing honestly and fairly; 2. Accounting for all funds;
3. Using skill, care, and diligence in the transaction; 4. Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer; 5. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing; 6. 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
7. Any additional duties that are entered into by this or by separate written agreement. Limited representation means that a buyer or seller is not responsible for the acts of the licensee. Additionally, parties are giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one party to the detriment of the other party when acting as a transaction broker to both parties. Realtor Agency Disclosure - something to think about.
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