Did you know that in Palm Harbor, Florida it is “presumed that Realtors act as Transaction Brokers unless a single agent or no brokerage agreement is entered into, in writing, with a customer.” Florida Statute 475.278 ?
What’s the big deal? I’m just trying to buy a house in Palm Harbor ASAP!?!?
Essentially, it means the Realtor is working for both the seller and the buyer. This also means you are getting a limited form of representation. But how limited? Well, if she checks the following boxes while working with you technically she’s done:
- Dealing honestly and fairly
- Accounting for all funds
- Using skill, care and diligence in a transaction
- Disclosing facts known about the property that might affect the value of the property
- Presenting all offers and counter offers in a timely manner
- Limited confidentially – unless waived by a part
Does this list seem like enough to you? Let me just highlight what is missing…. When your Realtor is representing you as a Single Agent she is agreeing to the list above as well as:
- Full disclosure
Let’s break down it to real talk!
Here’s how I break it down for my clients. If we are working in a Transaction Broker Relationship it’s kind of like dating. I like you. You like me. BUT I’m not all in (loyalty) and when I hit up Dunedin for brunch with my lady friends let’s just say the chatter is way juicier because I’m going to kiss and tell (confidentiality). Also, when we are just dating you can ask me to do things….but it may not happen (obedience). Oh and we are just dating so I’ll tell you some facts but not all.
NOW, when we get engaged aka Single Agent Relationship you get the whole enchilada. Full loyalty to you and only you. No juicy details over brunch. One of the toughest for me but you’ll get obedience and FULL DISCLOSURE. You get it all and it doesn’t even take you putting a ring on it.
BUT let’s not rush things…
Buying a house in Palm Harbor, Safety Harbor, Dunedin, Oldsmar, Tampa and St. Pete is hard right now. The inventory (aka listings) is lower then usual and therefore prices are competitive. We will NOT asks you to sign a brokerage agreement your first or second day out. I mean really?!?! Who asks someone to get married after only one date?? BUT if we’ve worked hard, complied solid homes for you and we both feel we work well together then take a breath and get ready to get serious because we are going to pop the question!
And one little nugget we also do for our clients:
If your Realtor hasn’t taken the time to sit down and talk to you about your relationship maybe it’s time you did?