Never ever hire a "Transaction Broker."
Always insist on a "Single Agent" fiduciary Broker as someone to actually represent YOU & your best interests.
- When you hire a Lawyer, you expect him/her to exclusively represent your best interests.
- When you hire a Financial Planner/Adviser, you expect him/her to exclusively represent your best interests.
- When you hire a Doctor, you expect him/her to exclusively represent your best interests.
- 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!
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 2016 less than 8.5% of all home sales in Palm Beach County actually had an exclusive agent/broker (Single Agent Broker) with fiduciary responsibility to the seller to protect the seller's interests and strive for the most beneficial outcome for the seller. True! That means nearly 92% of those "customers" did not have any exclusive fiduciary representation (anyone representing their best interests) . . . while never knowing their agent was not working exclusively for them.
Bizarrely, Florida law does not require these non-fiduciary agent/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."
- 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.
- 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 Statutes.
It's available free for the asking. You can also click here for a link to the actual statutes
The Palm Beach Real Estate Team only represents "clients" as a fiduciary "Single Agent" Broker
. . . never as just a transaction broker.
Never hire a "Transaction Broker." Ever.
Always insist on a "Single Agent" fiduciary to represent your interests . . . exclusively.