Okay, so you’ve decided not to try and sell your Jacksonville real estate on your own (FSBO – For Sale By Owner). Does it matter who you choose to list and market your home? Are there really any differences between real estate agents? Let’s take a look and you decide for yourself.
To begin with, not all real estate agents are REALTORS®. A Florida real estate agent (Sales Associate or Broker) is a person who has taken a state required real estate pre-licensing course of study and passed a state licensing exam in addition to passing other state requirements.
Unfortunately, the requirements to obtain a license in Florida are set pretty low in my opinion. In fact, it is much more difficult to obtain a cosmetology license than it is to get a real estate license. I have pretty strong opinions about this but will not take up space discussing them.
NOTE: Tim and Susan Fennell each have college degrees, hold a Florida Real Estate Broker License and are Accredited Consultants in Real Estate (ACRE®). Together they have more than 33 years professional experience in real estate in addition to having owned numerous investment properties of their own.
Depending on the licensee’s agreement with their Broker, each can work in one of the following “agency” relationships with consumers:
- Single Agency
- Transaction Broker
- No Brokerage Relationship
- Single Agency: Single Agency is a fiduciary relationship in which that agent/broker represent either a buyer or seller but not both in the same transaction. (Note: If a buyer uses the listing Single Agent to purchase, a Transition to Transaction Broker Notice must be signed by the principal before proceeding.)
- Transaction Broker: Transaction Broker provides limited representation to a buyer, seller, or both in a real estate transaction, but does not represent a buyer or seller as a fiduciary or single agent. With limited representation, buyer or seller is not responsible for the acts of the licensee.
- No Brokerage Relationship: The broker facilitates the sale or purchase without entering into either a Single Agent or Transaction Broker relationship.