Florida Real Estate Commission
Single Agency Regulations

Prior to 1990 all real estate agents represented the seller of a property. Even the agent who was working with the buyer was considered an agent of the seller!

In the early 90's, advocacy groups did a survey of homebuyers and discovered that 78% thought they had been represented by the agent that sold them the property. These advocacy groups informed homebuyers and homebuyers started demanding equal representation. Real estate brokers fought the introduction of Buyer Agency, but in the end the consumer won.

The National Association of Realtors recently conducted a survey of homebuyers who had purchased a new home within the past five years. This survey discovered that 85% stated they would use a Buyer's Agent on their next real estate purchase. It's only logical that buyers would choose to have an expert representing them on one of the most important transactions in their lifetime.

A Buyer’s Agent is a single agent who represents the Buyer in the purchase of property. In the State of Florida a Buyer’s Agent owes the following duties to the buyers:

• Dealing honestly and fairly
• Loyalty
• Confidentiality
• Obedience
• Full disclosure
• Accounting for all funds
• Skill, Care and Diligence in the transaction
• Presenting all offers and counter offers in a timely manner, unless the Client previously directed the licensee otherwise in writing.