Do most realtors act as “Transaction agents” around Orlando? (sales, real estate)

[Missmun]

We are planning to relocate in the coming months. We would like a buyers agent but the agent we found kind of makes it seem like the agents in Florida act as transaction agents for both the buyer and seller. Is this the norm?

[MyITGuy]

A real estate agent in Florida can represent both seller or buyer, but not at the same time unless express consent is given (I.E. Dual Agent, would need a sign-off by both parties).

[WinterParkLocal]

Originally Posted by MyITGuy

A real estate agent in Florida can represent both seller or buyer, but not at the same time unless express consent is given (I.E. Dual Agent, would need a sign-off by both parties).

You're confusing dual-agent with transaction broker. On the main listing agreement for Florida realtors there is a line where the seller agrees that the listing broker can act as transaction broker. This allows for the agent to handle both sides of the deal.

But to answer the original question, most agents work as both buyers and sellers agents. That is the norm.

[WellShoneMoon]

Originally Posted by WinterParkLocal

You're confusing dual-agent with transaction broker. On the main listing agreement for Florida realtors there is a line where the seller agrees that the listing broker can act as transaction broker. This allows for the agent to handle both sides of the deal.

But to answer the original question, most agents work as both buyers and sellers agents. That is the norm.

But not in the same transaction, right?

[WinterParkLocal]

Originally Posted by WellShoneMoon

But not in the same transaction, right?

correct, not usually in the same transaction but if a broker has a listing and a buyer contacts them to buy it there is nothing preventing them from working on both sides of the transaction as the seller has already agreed to that in the listing agreement. Assuming the buyer is aware of that relationship.

[Missmun]

Originally Posted by WinterParkLocal

You're confusing dual-agent with transaction broker. On the main listing agreement for Florida realtors there is a line where the seller agrees that the listing broker can act as transaction broker. This allows for the agent to handle both sides of the deal.

But to answer the original question, most agents work as both buyers and sellers agents. That is the norm.

Thanks!

[bmw335xi]

Originally Posted by Missmun

We are planning to relocate in the coming months. We would like a buyers agent but the agent we found kind of makes it seem like the agents in Florida act as transaction agents for both the buyer and seller. Is this the norm?

In California, you have to sign a disclosure saying that you understand the realtor might not have your interests priority since they also represent the seller. In Florida, there isn't such disclosure required, but just something to note. I would definitely try to get the realtor to use some of their commission during the negotiating process if you do elect to buy directly through the listing agent. Most sales are done with separate realtors though.

[Missmun]

Originally Posted by bmw335xi

In California, you have to sign a disclosure saying that you understand the realtor might not have your interests priority since they also represent the seller. In Florida, there isn't such disclosure required, but just something to note. I would definitely try to get the realtor to use some of their commission during the negotiating process if you do elect to buy directly through the listing agent. Most sales are done with separate realtors though.

Thanks! That makes sense to ask since they wouldn’t have to share it with another realtor.