UNDERSTANDING AGENCY…
Who Works for Whom?
Keller Williams Realty Emerald Coast is one of the few local real estate companies offering single agency brokerage relationships, providing our clients with full representation, loyalty and confidentiality. Single agency representation can increase the success for the client, as Realtors who are single agents work to best serve the interests of their client, not the transaction.
Here is an overview of Florida's brokerage relationships:
Here is an overview of Florida's brokerage relationships:
Seller Agency (Single Agency)
- Agent will represent the best interests of the seller
- Agent will owe the seller fiduciary duties
- Agent must give the buyer all material facts so that the buyer can make an educated decision
Buyer Agency (Single Agency)
- Agent will represent the best interests of the buyer
- Agent will owe the buyer fiduciary duties
- Agent must give the seller all material facts so that the seller can make an educated decision
Transaction Broker
- Agent represents both the buyer and the seller equally
- Agent's objective is to get a mutually satisfactory agreement among all parties
- Agent gives all options to the buyer and the seller
- Depending on the local market, all parties may be present at contract presentation to negotiate on their own behalf (Note: This is not the general practice on the Emerald Coast)
- All parties have confidentiality. Agent may do nothing to the detriment of either the buyer or the seller
- Both the buyer and the seller have a right to counsel. Before making any decisions, both parties have the right to seek family, religious, legal or financial counsel.
In all relationships, as your Agents we have a duty to act honestly with both the buyer and the seller.
There are times when Florida law does not allow a broker or Realtor to work in a single agent capacity. When agents from the same brokerage represent both sides of the transaction, the law requires them to work as transaction agents. However, in this situation, nothing previously disclosed can be used to the detriment of either party. The goal is still the same, a win/win for both seller and buyer!
