Under Florida law, it is presumed that all real estate licensees are operating as transaction brokers unless established otherwise in writing. Basically, that means we work to make a transaction take place. We provide limited representation to a buyer, a seller, or both in a real estate transaction.
Here are the 7 duties of a transaction broker:
- Deal honestly and fairly.
- Account for all funds.
- Use skill, care and diligence in the transaction.
- Disclose all known facts that materially affect the value of residential real property and are not readily observable to the buyer.
- Present all offers and counteroffers in a timely manner.
- Exercise limited confidentiality unless waived in writing by a party.
- Perform any additional duties that are mutually agreed to with a party.