REAL ESTATE BROKERAGE SERVICES

A single agent real estate broker is a real estate professional who represents either the buyer or the seller, but not both, in a real estate transaction. As a single agent, the broker owes a fiduciary duty to their client, which includes the following responsibilities:

1. Loyalty: Acting in the best interest of the client.
2. Confidentiality: Keeping the client's information private.
3. Obedience: Following the lawful instructions of the client.
4. Full Disclosure: Informing the client of all known facts that materially affect the value of the property.
5. Accounting: Properly handling all funds entrusted to the agent.
6. Skill, Care, and Diligence: Performing duties with the utmost professional ability.
7. Presenting all Offers and Counteroffers: Delivering all offers and counteroffers in a timely manner.

A single agent relationship must be established in writing and clearly disclosed to the client before the broker begins representing them. This is typically done through a single agent notice, which outlines the duties and responsibilities of the single agent relationship.

A transaction broker is a real estate professional who provides limited representation to both the buyer and the seller in a real estate transaction, without a fiduciary relationship. The transaction broker’s role is to facilitate the transaction by assisting both parties, but they do not represent either party in a fiduciary capacity. The key responsibilities and duties of a transaction broker in Florida include:

1. Dealing honestly and fairly: Treating all parties in the transaction with honesty and fairness.
2. Accounting for all funds: Properly handling and accounting for any funds entrusted to the broker.
3. Using skill, care, and diligence: Providing services with the necessary skill and diligence.
4. Disclosing all known facts that materially affect the value of residential real property: Informing both parties of any known facts that affect the value of the property.
5. Presenting all offers and counteroffers in a timely manner: Ensuring that all offers and counteroffers are presented to the parties promptly.
6. Limited confidentiality: Not disclosing information that has been marked confidential by either party, unless required by law. This includes not disclosing the price the seller will accept or the price the buyer is willing to pay.
7. Performing any additional duties that are mutually agreed to: Fulfilling any other responsibilities that have been agreed upon with both parties.

A transaction broker provides a more neutral role compared to a single agent, allowing them to assist both the buyer and seller in completing the transaction while maintaining impartiality.

A "No Brokerage Relationship" refers to a situation where a real estate broker or sales associate does not represent either the buyer or the seller in a fiduciary capacity. Instead, the broker or sales associate simply facilitates the transaction without offering any form of representation. The broker or sales associate's duties in a no brokerage relationship are limited to the following:

1. Dealing honestly and fairly: Ensuring that all parties are treated with honesty and fairness.
2. Disclosing all known facts that materially affect the value of residential real property: Informing the buyer of any known facts that materially affect the value of the property.
3. Accounting for all funds entrusted to the broker: Properly handling and accounting for any funds received in the course of the transaction.

A written disclosure outlining these duties must be provided to the customer before entering into a no brokerage relationship. This relationship is typically used when a customer does not want to be represented by an agent but still needs assistance with certain aspects of the real estate transaction.