Clearwater Real Estate Agent Explains NO Dual Agency

Did you know that fruitcake was a year-round favorite in Europe until a law was passed in the 18th century restricting consumption of fruitcake to just the holiday season.

Well, Florida has struggled with Dual Agency for about as long as Europe struggled with fruitcake, but
Dual Agency is illegal in Florida… :-).

Since it’s the holiday season, and many of you are thinking about buying a condo in Clearwater Beach, Sand Key or Island Estates to get away from the snow and cold. With such an important decision in mind, you should understand your Agency relationship with your real estate agent.

Florida Real Estate Law on Real Estate Representation

Here is the Florida Real Estate Law describing Agency:

Okay, so basically, Dual Agency occurs when any Clearwater beach real estate brokerage performs in a fiduciary capacity to both the buyer and seller of any real estate transaction (Again this is illegal in Florida).

In my opinion, when you come to Clearwater Beach Florida to buy a home or condo (or anywhere in the Tampa Bay area for that matter), most buyers want someone to represent them and not work for both them (the home or condo buyer) and the seller of the property at the same time (Transaction Broker in Florida Law). That way, you can ask the real estate agent you select to act in a fiduciary capacity and fully represent your interests (Single Agent in Florida Law). Make sense?

You will be happy to know that Cyndee and I have represented many
satisfied Tampa Bay real estate buyers of condos, homes and townhomes and some of them have even let us take a video telling their stories.

So, when you decide to visit Clearwater Beach and the Tampa Florida Beaches, just call to let us know when you are arriving to set up some time to see condos or homes in your price range that cater to your lifestyle:

  • Clearwater beach condos,
  • Tampa Bay Luxury waterfront homes,
  • Homes along the intercoastal deep waters of Island Estates for your yacht docked out back,
  • Homes and condos on our fabulous golf courses or
  • tennis anyone?

We’ve got it all and they come with the bluest backyards! The best part is you can enjoy the Florida Lifestyle here ALL year long if you’d like! So just bring the suntan lotion and come ready to relax because when it comes to Florida real estate representation …we’ve got you covered!

We look forward to meeting you and helping you with your Clearwater Beach real estate purchase (as well as homes and condos in the greater Tampa Bay area).

Clearwater Florida Real Estate in the Sun

Are you looking to buy a Winter home in Clearwater on the water or a Clearwater Florida vacation condo / home away from home in the Tampa Bay area we can help. We can help you find the perfect Clearwater second home or condo.  In addition we can help you find a Clearwater area bargain: distressed, pre-foreclosure, foreclosures and short sales for waterfront homes and condos. Here’s what some of our past clients have to say about how we helped them….

** CLICK ON PHOTOS BELOW TO SEE CLIENT VIDEO TESTIMONIALS **

Buyers tell us that selecting the best Realtor in Clearwater Beach Florida especially online or from a distance, can be a challenge. Some of our past clients agreed to share their experiences and tell you why they think you should work with us.

Click on the photos below and meet some of our clients and now friends…we’d love to be YOUR choice too!

The above information and images are Copyright © 2007 Jack and Cyndee Haydon,  REALTORS and your Clearwater Beach Real Estate Consultants and may not be copied, reproduced, distributed, transmitted, displayed or published. All rights reserved. Plagiarism will be detected and is punishable by law.

Want more info, click to Search the Clearwater MLS

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Want more info – Call us today at (727) 422–8901.

Tags: dual+agency, florida+agency+law, clearwater+beach+real+estate, clearwater+florida+real+estate, clearwater+beach+condos, cyndee+haydon, jack+haydon, home+in+clearwater, clearwater+beach+florida, clearwater+mls, clearwater+florida+real+estate, clearwater+beach+condos, tampa+bay+luxury+homes
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12 Comments

  1. Riddle me this batman…I am visiting Clearwater and I want to see a condo…what happens when I call the listing agent on sign? Can that agent sell me the condo in Florida?

  2. That’s pretty much the same here for the representation issue. An agent can only represent either the buyer or the seller not both. But we do have Dual Agency for the brokerages.

    I think some buyers think they get a better deal…but remember the fiduciary responsibility is to the seller…ie keep money in sellers pocket. The other buyers that call, just don’t know…they think that the name on the sign is the only person that can show and sell them that property.

    BUYERS AGENTS CAN SHOW AND SELL YOU ANY PROPERTY – Sorry for shouting. 🙂

  3. Bob – Great question – If the Listing Agent is a Single Agent, then no, that brokerage may not represent you.

    If the Listing Agent is a Transaction Broker, then yes, that brokerage may represent you IN A LIMITED ROLE.

    Here is an exerpt from the Florida Law on this topic:

    “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….

    Ironically the reason most buyers say they call off the sign is that they think they will get a “better deal” since that agent is getting paid for both sides…however, most listing agents tell us that is “a myth” and when they serve both sides does not affect their commission – there is not typically a rebate to the buyer.

    Terry – Sounds like North Carolina has similar rules – that will make moving and relocating easier for those “half-backs”

  4. Agency issues need to be addressed and you have done a great job explaining the Florida real estate laws on agency. Many buyers do not know the name on the sign represents the seller.

  5. Bob – you can shout here any day! We need all the help we can get dispelling Clearwater home buying myths. The other real estate myth we hear is from home and condo buyers that believe they will have to pay the REALTOR who is a “buyer’s agent” to represent them and don’t realize that the home or condo seller has already allocated the marketing fee in the MLS (between cooperating brokers) to pay the buyer’s real estate agent – they are in control and often don’t know it.

    I often wonder if it didn’t cost a Clearwater home or condo buyer any money – why would anyone NOT want someone working FOR ONLY THEM?

  6. For the life of me, I cannot understand why a Buyer would want Limited Representation. Here is how Florida Law Describes “Fiduciary”:

    “A broker in a relationship of trust and confidence between that broker as agent and the seller or buyer as principal….”

    In summary, I would not want LIMITED representation.

  7. Buying a home is a big decision and a personal one! You need the right person to find a home that suits your needs! The best way to be certain that an agent is working in your best interests is by signing a buyer representation agreement with an agent. Great post on real estate laws on agency!

  8. With all the different state laws on agency it is important to work with an agent who will take the time to explain them as you and Cyndee have. But no matter the state having a buyers agent in your corner is the way to go. – Ashley

  9. Great explanation of the dilemma of dual agency in Florida. It’s so important for clients to understand what limitations are in place, and that it’s for their own protection to have a Florida Realtor working exclusively to protect their interests.

  10. You’ve done a great job at clarifying this for buyers relocating to Floriday from other parts of the country. Laws on this really do differ from state to state. Even when they might appear on the surface to be the same, details are different. It’s very important for buyers to work with a knowledgeable Clearwater agent like you – a transaction broker gives them no representation, at least as I understand it.

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