Florida Transaction Brokers and the Illusion of Representation
If you think that a Florida Transaction Broker will really represent you, think again.
The Florida Transaction Broker Notice form says that the licensee will ASSIST the party in a LIMITED form of representation.
“ASSIST” DOES NOT MEAN REPRESENT and “LIMITED” means you are giving up your right to undivided loyalty…note that the word licensee is used so that no one gets confused and thinks that they really do have an “agent”.
While the average person thinks that “represent” means that they are a client and have someone advocating for them, Florida inserted a very different meaning for the word “represent”.
The FLORIDA DEFINITION SAYS: that “LIMITED” representation only means that a buyer or seller is not responsible for the acts of the licensee. Whaaat?
Now what part of that definition resembles actually being represented? None. By twisting the definition, this only helps the agent licensee facilitate both sides of a transaction and get paid double for being involved in both ends of the Real Estate deal!
A Florida Transaction Broker can offer NO FIDUCIARY DUTIES of Undived Loyalty, total Confidentiality, or full disclosure. If you choose to work with a transaction broker, basically you are on your own.
Yes, there is a better choice. You as a consumer have an option for single agent representation, however, it is not with a “Florida Transaction Broker and the Illusion of Representation”.
Copyright @ Buyers Broker of Florida 2012 “Florida Transaction Brokers and the Illusion of Representation”