4871 Palm Coast Pkwy NW #2
Palm Coast, FL 32137
Phone: 386-246-3131
FAX: 386-246-3162
4871 Palm Coast Pkwy NW #2
Phone: 386-246-3131
The most misunderstood topic in real estate is Florida Law on Agency.
I’ve studied this topic since the first statutory law in 1994. It’s been changed and revised many times and thus the confusion.
It is a consumer protection law covering the disclosure of the relationship we have with our customers. There is a presumption of Transaction Brokerage unless we establish a different relationship in writing. Now, most of the companies are Transaction Broker companies by an overwhelming number; over 85%. Now there are two things going on; ONE: We have the job of real estate and TWO: the relationship we have with our customer. As Transaction Brokers we are all able to do the entire job of real estate. It’s HOW we do the job that is important. Transaction brokers provide facts, figures, and information; while Agents provide opinions and advise.
Now here is where the confusion is obvious. As Transaction Brokers, WE ARE NOT AGENTS! Sales associates are only agents of the broker, not the customer. So, we should avoid calling ourselves agents! WE DON’T HAVE CLIENTS! We have customers. The term client isn’t even defined in the law, and might create an unintentional agency. Courts have ruled that if it walks like a duck, acts like a duck and talks like a duck…It’s a duck. You can’t act like an agent and hide by saying you’re a transaction broker.
If you would like more information contact me. I’m Ric Giumenta. You can have a good day or a bad day. It’s your choice. Make good choices. See you next time!
24 May 2021
I just did some work on some rental properties and my home, and I hired a few contractors to do the work. I’ve experienced horrendous customer service. What do you consider good customer service? In our business customer service is what we have to se...
17 May 2021
Ok, stop me if you’ve heard this one... A day before closing, a man and a woman go into a bar to conduct a walk through. The man says to the women, “Where are the washer and the dryer?” The woman says “I don’t know, they must have gotten clean away!”...
11 May 2021
In my classes I teach that as soon as we get our license, we are operating as Sole Proprietors with our Independent Contractors contract under our Broker. Many have realized that this might not be the best entity to work under. Many sales associates ...
03 May 2021
How important is getting a listing at the right price, the right terms, and the right time for marketing? Well, it’s very important, in fact, it’s a critical mix necessary to have a listing sell. Do we want to get listings or do we want to get listin...
26 April 2021
Communication is a critical skill necessary for sales associates in order to succeed. We can’t listen to respond; we must listen to understand. The elements of a good communicator include, empathy, patience, flexibility, and reward. Empathy is unders...