Different Relationships with Real Estate Agents

Jacksonville Real Estate News


Updated: Tuesday, May 22, 2012

There are three types of relationships you can have with a North Florida real estate agent. The first type of relationship is one in which the buyer can hire his or her own agent who will represent only the buyer’s concern. The North Florida buyer must pay the agent out of pocket, but they can place their trust in the North Florida realtor. A dual agency relationship is when two agents who work for one broker stands for the buyer and seller. A conflict of interest could arise if the listing agent knows about the buyer’s offer before hand. There is a law for this type of relationship that says a dual agent cannot reveal to the buyer that the seller will accept less than the list price. They also cannot reveal that the buyer will pay more than the offer price. Finally, in a traditional relationship, agents and brokers have an exclusive relationship to the seller. The seller pays the commission of both brokers, not just the list, but to the sub-broker as well.

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