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DISCLOSURE
LAWS
REAL
ESTATE HAS SOMETHING NEW CALLED THE BROKERAGE RELATIONSHIP
DISCLOSURE LAW
As
of October 1, 1997 the Florida legislature enacted a new law to
help you, the consumer. It is our desire to keep you informed and
we feel the following points of reference will help to update you
regarding this position. An informed consumer tends to make clear
decisions on his/her behalf, and in turn makes the buying/selling
process an easier and more enjoyable experience for all parties.
A
broker can no longer act in the capacity of Dual Agent.
All
real estate brokerages must decide whether they will do business
as a Single Agent (for buyer or seller), as a Transaction
Broker, or in a Nonrepresentation capacity.
With
Single Agency representation both buyers or sellers will receive
full representation by their REALTOR except when the represented
buyer wants to view and/or purchase a listed home by the same
brokerage firm, commonly referred to as an in-house listing. In
this situation both parties can either agree (before the showing
of said property takes place) to have their REALTOR transition
to Transaction Broker, or the buyer can choose a position of
Nonrepresentation for this particular showing/purchase.
As
a Transaction Broker the buyer and seller will receive limited
representation in all transactions; however, the REALTOR/Broker
cannot act to the detriment of either party.
The
law has not changed the fact that the REALTOR is in the 'service
business', and should never lose site of this fact. In that
capacity, Harvey, Kelly and I (Barbara), as professionals, are
committed to helping you sell or buy a home in an honest,
honorable, efficient, and timely manner. We cannot make any of the
choices for you, including your choice of representation, but we
can make the business of buying or selling a home as enjoyable and
uncomplicated as possible. Since we are not in the practice of law
we are not allowed to explain/interpret clauses within contracts.
Any questions regarding the disclosure forms, contracts, etc.
should be referred to your attorney for an informed explanation
and counsel. If you do not presently have legal counsel we can
provide you with a list of local attorneys for your consideration.
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