Quote:
Originally Posted by jmaccallum
In Florida, pretty much all Real Estate Agents are “Transaction Brokers.” They don’t represent you, the Buyer, nor the Seller. They have no fiduciary responsibility to anyone, they just put together the transaction. It doesn’t matter what they say or even what they put in writing to you. The Sales Contract that you signed to buy the house even spells that out in bold print, you indemnify and hold them harmless. In Florida it is “Caveat Emptor” or Buyer Beware on all properties sold. Find a good contractor to fix and good luck!
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Not exactly. The broker represents the seller as an agent in the listing contract. They do not represent the buyer. As far as fiduciary responsibilities, they are required to act as a fiduciary to both the buyer and the seller by Florida law. That is different from being an agent. If they violate the fiduciary or ethics standards, they can be disciplined or lose their state license.