The form of representation chosen by a buyer or seller binds the entire brokerage company and not just an agent/licensee working in the company. A buyer who wants a single agent representation links all brokerage to a single agent relationship. Florida does not allow a duale agency, so if it is a home listed by the same company, the individual agent should back down with your consent to be a transaction broker. There is a specific disclosure from the Agency that allows a single agency with the agreement that the agent can return to the status of the transactionbroker if there is an internal list you want to buy. We see this as a form of watered-down representation. There are other options. An ad agent for a property also representing the buyer is a dual agent. Alternate agents cannot have a fiduciary relationship with both parties and must treat both sellers and buyers in the same way. You cannot disclose confidential information or give confidential advice. A saleswoman sued a double agent in California for asking the buyer to ask the seller for a carpet premium. The dual agent cannot discuss the price of the house, the terms or negotiations on behalf of anyone.
It is a challenge to get the highest and best price for the seller, if the broker also represents the buyer. If they differ, a single agent owes you complete information, while a broker owes only limited confidentiality, unless a party waives in writing. Restricted confidentiality prevents the disclosure or motivation of a party to sell or what a buyer might pay for a property, and the willingness of that party to accept terms other than those offered or other information that is invited to remain confidential. So if you`re in a negotiation, the seller retaliates, but mentions that it would take less, a transaction esbroker wouldn`t be allowed to tell you what little important information. Only one agent is needed to say this with them. As a single agent (insert the name of the real estate unit and its employees), they owe you the following obligations: Since Equity Realty agents work in your best interest, we choose to work as unique agents for you, the buyer, in order to provide you with the best terms and the best price. Some buyers say they prefer to work exclusively with listing agents, because they know that the agent receives both the listing commission and the buyer`s agent commission. You feel motivated when a buyer makes an offer to purchase to accept this offer.