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The Palm Beaches Team - Single Agent, Fiduciary Broker Representation
No, a “Single Agent” is NOT an unmarried Realtor(R)!
"Single Agent" actually means "YOUR Fiduciary Agent." A Single Agent is the only Legal, licensed real estate representative relationship, allowed and required by Florida Law to provide clients with "Fiduciary Responsibility and Care"
Always insist on a "Single Agent" fiduciary Broker as someone to actually represent YOU & your best interests, exclusively.
When you hire a Lawyer, you expect him/her to exclusively represent your best interests. - That is the Law!
When you hire a Financial Planner/Adviser, you expect him/her to exclusively represent your best interests. - That is the Law!
When you hire a Doctor, you expect him/her to exclusively represent your best interests. - That is the Law!
Shouldn't the same be true when you hire a Real Estate professional? You do and should expect him/her to exclusively represent your best interests in one of the Single Largest financial transactions most people ever make!
BUT . . .
You may be shocked to learn that any assumption of "automatic" exclusive, fiduciary representation by Real Estate Brokerages in Florida as being "the norm" is completely wrong. Florida State law actually decrees the “exact opposite” to be true.
In 2021 less than 4% of all 47,838 home listings in Palm Beach County actually had an exclusive agent/broker (Single Agent Broker) with a fiduciary responsibility to the seller to protect the seller's interests and strive for the most beneficial outcome for the seller. True! That means over 96% of those "customers" did not have any exclusive fiduciary representation (anyone representing their best interests) . . . most Sellers and Buyers had no idea that their agent was not actually working exclusively for them. In Florida, agents have NO OBLIGATION to disclose that they are not your Fiduciary.
Bizarrely, Florida law does not require these non-fiduciary agents/brokers to disclose the severely limited relationship they recommend to the public. These non-fiduciary Brokers are called "Transaction Brokers." To them, you are merely a "Customer" NEVER a "Client." There is no actual, legal “agency” relationship.Don't assume that any "big, flashy Realtor(R)" is working in your best interest. They aren't, and, by law they cannot.
By Florida Law, ONLY a "Single Agent" broker can "legally" provide you with the exclusive, Fiduciary representation you expect, deserve and need. A Transaction Broker is prohibited by law, from acting as your fiduciary agent. Period. Full Stop!
If you would like a fuller expose', we have prepared a more detailed report outlining the details of Florida Statute 475.278 which specifically governs statutory (legal) Real Estate Forms of Representation under Florida LAW.
It's available free for the asking. You can also click here for a link to the actual statute.
The Palm Beach Real Estate Team only represents "clients" as a Fiduciary "Single Agent" Broker
. . . never as just a transaction broker.
Always insist on a "Single Agent" Fiduciary to represent your interests . . . exclusively.
"We Make Good Things Happen"