Brokerage Relationship Disclosure

Brokerage Relationship Disclosure (informational)

Florida law defines the brokerage relationships a real estate licensee may offer in Section 475.278, Florida Statutes, and requires a written disclosure when a single agent relationship or a no-brokerage relationship is established; transaction brokerage is presumed by law and does not require a separate written disclosure. This page explains those relationships so you can ask informed questions before you choose how to work with us. It is provided by Jeremy Parks Real Estate Company, LLC, a Florida-licensed real estate brokerage (broker Jeremy Parks, license #BK3394001). [REVIEW: confirm the legal entity name 'Jeremy Parks Real Estate Company, LLC' matches the Florida Sunbiz filing exactly, including punctuation and the word order, before publication.] This page is informational and educational only. It is not the brokerage-relationship disclosure that Florida law requires, and reading it does not create any brokerage relationship between you and us. The required written disclosure is delivered separately, as described in the last section below. Cite: F.S. 475.278.

Florida authorizes only two brokerage relationships; dual agency is prohibited

Under Florida law, a real estate licensee may enter into a brokerage relationship with a buyer or seller as either a transaction broker or a single agent. A Florida licensee may not act as a dual agent — that is, a broker may not represent both the buyer and the seller as a fiduciary in the same transaction. Florida law also does not require you to enter into any brokerage relationship with a licensee. You may decline a brokerage relationship entirely. Cite: F.S. 475.278(1)(a).

We are presumed to be a transaction broker unless you and we agree otherwise in writing

Florida law presumes that all licensees are operating as transaction brokers unless a single agent relationship or a no-brokerage relationship is established, in writing, with the customer. Consistent with that presumption, Jeremy Parks Real Estate Company, LLC operates as a transaction broker by default. If you would prefer a single agent relationship, or no brokerage relationship at all, you may request that in writing before we begin working together, and we will document the relationship you choose on the applicable written disclosure. [REVIEW: Jeremy must confirm that 'transaction broker by default' is the firm's actual operating posture. If the firm intends to default to single-agent representation for some or all clients, this section and the next must be rewritten. This is an affirmative business decision, not a drafting choice.] Cite: F.S. 475.278(1)(b).

Transaction broker — what we owe you in this default relationship

A transaction broker provides a limited form of representation to a buyer, a seller, or both, but does not represent either party in a fiduciary capacity or as a single agent. In this limited form of representation, the licensee owes you the following duties: (1) dealing honestly and fairly; (2) accounting for all funds; (3) using skill, care, and diligence in the transaction; (4) disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer; (5) presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing; (6) limited confidentiality, unless waived in writing by a party — this limited confidentiality prevents disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for buying or selling, that a party will agree to financing terms other than those offered, or of any other information a party has asked to be kept confidential; and (7) any additional duties that are mutually agreed to with a party. Limited representation means you are not responsible for the acts of the licensee, and that you are giving up your right to the undivided loyalty of the licensee. Cite: F.S. 475.278(2)(a)-(g) (the enumerated duties); the "limited representation means" sentence follows the statutory disclosure-form text at F.S. 475.278(3)(c)2.

Single agent — full fiduciary representation of one party

If you and we agree in writing to a single agent relationship, the licensee represents you alone in a fiduciary capacity and owes you these duties: (1) dealing honestly and fairly; (2) loyalty; (3) confidentiality; (4) obedience; (5) full disclosure; (6) accounting for all funds; (7) skill, care, and diligence in the transaction; (8) presenting all offers and counteroffers in a timely manner, unless you have previously directed the licensee otherwise in writing; and (9) disclosing all known facts that materially affect the value of residential real property and are not readily observable. Florida law requires that the duties of a single agent be fully described and disclosed to you in writing — in a separate disclosure document or within a listing or representation agreement — before, or at the time of, entering into that agreement or before the showing of property, whichever occurs first. [REVIEW: this page summarizes the single-agent duties; it is not the statutory single-agent notice and must not be used as a substitute for the FAR/BAR (Florida Realtors/Florida Bar) single-agent disclosure form delivered in the transaction. Confirm the firm uses the licensed FAR/BAR form and does not reproduce that licensed form text on the website.] Cite: F.S. 475.278(3), 475.278(3)(a), and 475.278(3)(b).

No brokerage relationship — what a licensee still owes you

You may also choose to have no brokerage relationship with the licensee. Even with no brokerage relationship, a Florida licensee still owes you: (1) dealing honestly and fairly; (2) disclosing all known facts that materially affect the value of residential real property which are not readily observable to the buyer; and (3) accounting for all funds entrusted to the licensee. As with the other relationships, the duties of a licensee who has no brokerage relationship with you must be disclosed to you in writing before the showing of property. Cite: F.S. 475.278(4), 475.278(4)(a), and 475.278(4)(b).

Changing relationships requires your written consent

A licensee may change from one brokerage relationship to another — for example, from single agent to transaction broker — but only if you give your written consent before the change and the licensee makes the appropriate written disclosure of duties. Florida law does not let a licensee make this change without your prior written consent. [REVIEW: confirm the firm uses the statutory 'Consent to Transition to Transaction Broker' form for any single-agent-to-transaction-broker change and obtains the principal's initials or signature as the statute requires.] Cite: F.S. 475.278(1)(a) and 475.278(3)(c).

Using this website does not create a brokerage relationship

Browsing this website, viewing property information, submitting a contact request, or scheduling an appointment does not by itself create a transaction broker, single agent, or other brokerage relationship between you and Jeremy Parks Real Estate Company, LLC. No brokerage relationship is formed unless and until it is established in writing as Florida law requires. Providing general factual information about properties, or about the brokerage's qualifications, background, and services, does not trigger the statutory disclosure requirement and does not create a relationship. Where Florida law requires a written disclosure (a single agent or no-brokerage relationship), it is delivered to you separately at the time the statute sets: for a single agent relationship, before or at the time of entering into a listing or representation agreement, or before the showing of property, whichever occurs first; for a no-brokerage relationship, before the showing of property. [REVIEW: confirm the website's contact and scheduling flows are worded consistently with this 'no relationship is formed online' statement, and that any future IDX/property-search feature carries the same notice.] Cite: F.S. 475.278(1)(b), 475.278(3)(b), 475.278(4)(b), and 475.278(5)(b).

Contact

Jeremy Parks Real Estate Company, LLC — Jeremy Parks, Broker, Florida license #BK3394001. Phone: (352) 362-7564. Email: jeremy@jeremyparksrealestate.com. We serve buyers and sellers in the St. Petersburg, Tampa, and Ocala areas (Hillsborough, Pinellas, and Marion counties). If you have questions about which brokerage relationship is right for your situation, please contact us before signing any agreement. [REVIEW: confirm the phone number, email, and counties served are current and that no physical office address is required to appear on this page; if a registered office address is wanted, add it.] Last updated: [REVIEW: insert publication date].

Sources: F.S. 475.278 (Authorized brokerage relationships; presumption of transaction brokerage; required disclosures) — local verbatim copy at docs/compliance/sources-collected/f-s-475-278.md · F.S. 475.278(1)(a) — authorized relationships (transaction broker or single agent); dual-agency bar; customer not required to enter a relationship · F.S. 475.278(1)(b) — presumption of transaction brokerage unless a single agent or no-brokerage relationship is established in writing · F.S. 475.278(2) and (2)(b) — transaction broker limited representation and the seven enumerated duties · F.S. 475.278(3), (3)(a), (3)(b) — single agent relationship, the nine enumerated duties, and written single-agent disclosure requirement/timing · F.S. 475.278(3)(c) — written consent to transition (single agent to transaction broker) · F.S. 475.278(4), (4)(a), (4)(b) — no brokerage relationship, the three enumerated duties, and written disclosure before showing of property · F.S. 475.278(5)(b) — disclosure limitations (general factual information and licensee-services information do not trigger the disclosure requirement)