Which Listing Areement Should I Use?

We are presumed TRANSACTION AGENTS in the State of Florida by Statute

Section 475.278(2), Florida Statutes, sets forth the duties of a transaction broker. A transaction broker must deal honestly and fairly, account for all funds, use skill, care, and diligence and disclose latent defects. In addition, a transaction broker must present all offers and counteroffers in a timely manner, unless their customer has instructed otherwise in writing. 

We recommend you use either: 

Exclusive Right of Sale Listing Agreement-Transaction Broker OR Transition to Transaction

Some brokers ask, “I’m a transaction broker. Doesn’t that mean I represent the transaction?” As you can see from the statutory definition and duties, that answer is no. A transaction broker represents either or both of the parties, but the broker does not represent the transaction. If the broker is representing both parties, the broker facilitates the transaction but does not represent it.

Though the nuances of transaction broker practice can be tricky, ultimately it provides a great deal of flexibility to a real estate broker. If the broker identifies a buyer, the broker can represent that buyer in the same transaction without additional disclosure paperwork. Transaction brokers should be mindful of complying with Article 7 of the National Association of Realtors®’ Code of Ethics, which requires disclosure and consent if the broker is receiving compensation from more than one party. But the representation of both parties in a transaction is presumed to be permitted as a transaction broker.