IN HIS CURRENT CAPACITY AS A SALES AGENT HE REPRESENTS CLIENTS ONLY AS A REAL ESTATE AGENT AND NOT AS AN ATTORNEY AT LAW FOR ANY REASON, PURPOSE OR CAPACITY.
In Florida many tasks performed only by an attorney at law in other states are allowed to be performed by licensed real estate agents. For example, preparation of sales contracts and agreements. In these matters Ken utilizes his educational background in such allowed tasks.
IMPORTANT DISCLOSURE IS THAT KEN DOES NOT OFFER OR REPRESENTS HIMSELF IN ANY MANNER TO HIS REAL ESTATE CLIENTELE THAT HE IS AN ACTIVE PRACTICING FLORIDA ATTORNEY AT LAW.
For all issues not allowed to be performed by sales agents under Florida law he refers his clients to competent Florida licensed legal representation.
Single Agency Representation Listing
(This is what Ken prefers to do in his transactions.)
Single Agency may be provided to the customer in the form of a Buyers Agency Agreement with the Buyers Agent or Listing Contract with the Listing Office.
Ken of Punta Gorda prefers to represent all customers as Single Agents.
Single Agency Representation does not mean additional cost to the buyer or seller.
Single Agent is when a licensee represents, as a fiduciary, either the buyer or the seller. As a single agent, a licensee may not represent both buyer and seller in the same transaction. A fiduciary relationship is one of trust and confidence between the licensee as agent and the seller or buyer as principal (section 475.01(1) (f) and (k), (Florida Statute).
The duties a single agent owes to a buyer or seller include the following:
1. Dealing honestly and fairly
4. Obedience (within the scope of the law)
6. Accounting for all funds
7. Skill, care and diligence in the transaction
8. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing
9. Disclose all known facts that materially affect the value of residential property and are not readily observable
(This is what most Florida real estate agents commonly do today.)
A Transaction broker owes no Fiduciary duties to the Buyer or Seller.
Ken of Punta Gorda will only be involved in a transaction listing at the request of the seller and buyer.
A Transaction Broker owes a buyer or seller limited confidentiality. The agent does not owe confidence, obedience or loyalty to either party. A Transaction Broker can not represent both parties in the same transaction and owes no fiduciary duties to either buyer or seller. The licensee only agrees to facilitate the transaction. No form of representation exists.
Transaction Broker Relationship
Transaction broker-duties of limited representation.--A transaction broker provides a limited form of representation to a buyer, a seller, or both in a real estate transaction but does not represent either in a fiduciary capacity or as a single agent. The duties of the real estate licensee in this limited form of representation include the following:
1. Dealing honestly and fairly;
2. Accounting for all funds;
3. Using skill, care, and diligence in the transaction;
4. Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer;
5. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing;
6. Limited confidentiality, unless waived in writing by a party. This limited confidentiality will prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than those offered, or of any other information requested by a party to remain confidential; and
7. Any additional duties that are mutually agreed to with a party.