Sellers and Buyers take note – Transaction Broker what does it mean to a seller? – Ocala Florida Real Estate

‘he/she didn’t explain it to me that he/she would be working for both parties and not able to tell me everything the other party said.’”

How does a seller and buyer get into this position?   When the listing agent  shows the buyer the home and writes an offer for the buyer without disclosure.   The listing agent never disclosed to the sellers or the buyers that they are in a neutral position as a transaction broker and cannot advise either party.      Florida Real Estate Law prohibits a broker from creating a fiduciary relationship with both the buyer and the seller.  Better know as dual agent.  

What the listing agent should of done was provide the buyer with a no brokerage relationship notice before showing them the property or ask the seller if they can engage in a transaction broker relationship with the buyer. 

Seller’s has your transaction listing agent explained this to you?   Only a single agent with written disclosure has a fiduciary relationship with either the seller or buyer, but never both at the same time.  The parties under a transaction broker are giving up their rights to undivided loyalty of the licensee.   Your listing agreement determines the type of representation the brokerage is providing you.    

Dawn Rupersburg  ABR