FACTS ABOUT FLORIDA REALTOR REPRESENTATION

What You Should Know

In 1983 the FTC found that 72% of Home Buyers did NOT KNOW who their Agent actually represented.  The subsequent uproar resulted in laws requiring REALTORS to identify who they were representing. Florida had a similar law.   However.............

In 2008, Florida DROPPED the requirement for REALTORS to tell you Who's interest they were working for. Today, the responsibility is again on the Buyers shoulders.

Florida is now a "Transaction Brokerage" state.  Transaction Brokerage is a basically a hybrid of the old "Dual Agency" . Dual Agency has been banned by some states and the Courts have Ruled that Buyers can not receive the same protection as the Seller. Today's Transaction Brokers must walk a very fine line that does not allow Fiduciary Representation or Full Disclosure.

What's in an EBA Agreement

An Exclusive Buyer Agent Agreement is the "Buyers" version of a Listing Agreement. It identifies the parties legal relationship, goals, term and compensation. The EBA's Buyers Agreement also provides "Single Agency" representation... a fancy word meaning the EBA will represent the buyers best interest and is the Buyers Advocate in the buying process. This Fiduciary relationship means there is never a conflict of interest and the buyers best interest is always the first consideration.

All EBA's work in Buyer Brokerages which never represent sellers or have commitments to SELL property. This exclusively Buyers commitment means they will not transition to Dual Agency or a traditional FloridaTransaction Brokerage.