To begin with, not all real estate agents are Realtors. A Florida lic. real estate agent (Sales Associate or Florida Lic. Real Estate Broker) is a person who has taken a state required real estate licensing course of study and passed a state licensing exam in addition to passing other state requirements, but in order to carry the trademark Realtor the agent must join the local realtor board.
Kirsten Prizzi is an experienced real estate professional with over 25 yearsâ€™ of experiences in the residential & commercial real estate industry and since 1998 in SW Florida from Naples to Cape Coral.
It is likely that you have talked to many real estate agents in the past and hopefully all explained the â€œagencyâ€ relationships to you. And, if they didnâ€™t explain the â€œagency statusâ€ then it is certain that they never offered you a choice in how you wanted them to work with you. In Florida, unless otherwise put in a written agreement, all licensed agents are assumed to be working as Transaction Brokers. But is this the relationship you would choose if are where given a choice? Only you can make that decision and to make the best decision possible, you need to know the difference!
Single Agency: Single Agency is a fiduciary relationship in which that agent or broker represent either a buyer or seller but not both in the same transaction. Note: If a buyer uses the listing â€œSingle Agentâ€ to purchase such as your home, a Transition to Transaction Broker Notice must be signed by the principal before proceeding.
Transaction Broker: Transaction Broker provides limited representation to a buyer, seller, or both in a real estate transaction, but does not represent a buyer or seller as a fiduciary or single agent. With limited representation, buyer or seller is not responsible for the acts of the licensee.
No Brokerage Relationship: The broker facilitates the sale or purchase without entering into either a Single Agent or Transaction Broker relationship.
Depending on the specifics of the transaction, buyers and sellers may feel better served by choosing one of these over the others. We believe that it is important for you to know that you have choices, what those choices are and what each means for you as an individual with your unique transaction.
Kirsten S. Prizzi
FL Lic Real Estate Broker
Residential & Commercial Real Estate