Can you be a dual real estate agent in Florida?

Can a real estate agent work for two brokers in Florida?

A real estate agent who does not hold a brokerages license cannot work, as a real estate salesperson, for two brokers at once. The exception is when an agent holds licenses in two, or more, different states and they work for one broker in each. Different rules apply for licensed brokers.

What is a dual agent in Florida?

As used in this section, the term “dual agent” means a broker who represents as a fiduciary both the prospective buyer and the prospective seller in a real estate transaction.

Should I allow my realtor to be a dual agent?

To protect your finances and ensure you are selling or buying at the best possible price, it is probably best to avoid dual agency. Buyers or sellers may be inclined to work with a dual agent because they want to obtain confidential information about the person buying or selling the home.

Is dual agent a good idea?

The bottom line is that dual agency is certainly a good thing for the agent but is typically a negative scenario for both the buyer and seller, as neither party is getting fair representation. This is an especially negative arrangement for inexperienced buyers and sellers who really need professional guidance.

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Why is dual agency illegal?

Buyers and sellers have different, often competing goals, and each relies on an agent to represent their interests. Dual agency describes a situation in which the same real estate agent represents both the buyer and the seller. This creates ethical issues, and the agent’s own interests could end up taking priority.

Is dual agency illegal?

Dual agency occurs when a buyer and seller let a single real estate agent (or two agents from the same brokerage) represent them in a transaction. Dual agency is illegal in eight states: Alaska, Colorado, Florida, Kansas, Maryland, Oklahoma, Texas and Vermont.

What is the difference between a transaction broker and a dual agent?

A transaction broker does not represent the buyer or seller, but instead acts as a neutral resource to help both parties complete a home sale. … A transaction broker is not considered a dual agent; dual agency involves an agent or broker who represents both parties simultaneously.

Can you have 2 Realtors at once?

A multiple-listing agreement sees you sign up with a single agent – but rather than the property being sold by just that agent, the listing is shared with other agents who are members of a multiple-listing network.

Can I work with two real estate agents?

The short answer is yes, you can work with multiple real estate agents—under certain circumstances. Working with more than one real estate agent is fine when you haven’t signed an exclusive agreement with anyone, says Adam Aguilar, a Realtor® with Reliantra in West Toluca Lake, CA.

What if your Realtor is also the listing agent?

In your situation, your real estate agent is the listing agent and is also your buyer’s agent. In this case, your agent is considered to be a dual agent; and because an agent can’t hold a fiduciary duty to you and the seller in the same transaction, your agent’s role in the transaction is diminished.

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