Tampa Bay Real Estate Buyers Brokers, Single Agents and
Transaction Brokers
A growing nationwide trend in real estate is for prospective buyers to
contract with a Buyer's Broker. A study conducted by the National Association of Realtors
showed that in over 50% of all
transactions, buyers were represented by a buyer's broker. That percentage is increasing every year. "The most
important thing a buyer can do is, first of all, work with a buyer's broker." Source:
Consumers Federation of America and the A.A.R.P.
Florida Law requires that Real Estate Licensees provide this notice to all potential
sellers and buyers of Real Estate. You should not assume that any real estate
broker or salesperson represents you unless you agree to engage a real estate licensee in
an authorized brokerage relationship, either as a single agent or as a transaction broker.
You are advised not to disclose any information you want to be held in confidence until
you make a decision on representation.
Buyers Beware- Don't reveal personal or financial information to the listing agent or the
seller. Aways conceal your excitement when you fall in love with a home. This, and the
maximum price you can pay, is for you alone to know. Show some interest in each home
you're shown which has desirable features. Then, when the right one comes along you won't
blatantly telegraph your true degree of interest. It's suggested you use an
exclusive Buyers Broker...an agent whose exclusive loyalty and skills are used on your
behalf. As unfair as it seems, in most typical home purchases, the only one NOT
represented is YOU... the buyer.
Buyers Broker- A prospective buyer contracts with a buyers broker under a single
agency agreement. A Buyer's Broker is legally bound to act in best interest of the
client and their interests only. The Buyer's Broker's fee is normally paid by the seller.
A Buyer's Broker is in a much stronger negotiating position, which typically results in a
lower purchase price.You and your agent commit to working together as a team.
If you would like to hire me as your Buyers Broker:
You must be pre-qualified for a loan. We can then focus our search to properties that are
within your financial parameters and I'll represent you exclusively
Single Agent Notice
Florida Law requires that Real Estate Licensees operating as Single Agents disclose to
Buyers and Sellers their duties.
As a Single Agent, (Brokerage) and it's associates owe to you the following duties:
1- Dealing honestly and fairly
2- Loyalty
3- Confidentiality
4- Obedience
5- Full Disclosure
6- Accounting of 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
9- Disclosing all known facts that materially affect the value of residential real
property and are not readily observable
Date________Signature____________
Transaction Broker Notice
Florida Law requires that Real Estate Licensees operating as Transaction Brokers disclose
to Buyers and Sellers their role and duties in providing a limited form of representation.
As a transaction Broker, (Brokerage) and it's associates, provides to you a limited form
of representation that includes the following duties:
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 the 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
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.
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