Talk of The Villages Florida - View Single Post - Will new real estate law on August 17th dramatically lower realtor commissions?
View Single Post
 
Old 08-05-2024, 01:54 PM
Plinker Plinker is offline
Senior Member
Join Date: Mar 2019
Posts: 182
Thanks: 25
Thanked 407 Times in 153 Posts
Default

Quote:
Originally Posted by retiredguy123 View Post
It's about representation. Under Florida law, an agent cannot represent both the buyer and the seller. When I sign a listing agreement, it is clear that any licensed agent who shows my house is representing me, the seller. If an agent has a written agreement to represent the buyer, they cannot show my house because they are acting as an illegal dual agent. At closing, the entire commission is paid by me on the seller's side of the closing statement. If it turns out that an agent showing my house has a buyer's agent agreement, they are violating both the listing contract and Florida law. I am willing to pay an agent to represent me in selling a house, but, I will not agree to pay any commission to a buyer's agent. I expect agents to treat buyers and sellers fairly, but, I expect them to act in my best interest to get the best price, since they are representing me, the seller.
I agree with your post 100%. However, with respect, the new law is about how seller and buyer realtor commissions will be paid and not about representation.