| A commercial real estate broker is a person who | | | | should be broken. Instead, they felt that the |
| acts as a link between a buyers and a sellers real | | | | dealings between the two should be strictly limited |
| estate. This relationship is one of fiduciary | | | | to the actual sale and purchase of real estate, |
| responsibility, meaning that it is a relationship | | | | without taking the personal interest of the client |
| based on trust.The person appointed as the | | | | into consideration. In Florida, the Broward Board of |
| broker, has the responsibility of ensuring that his | | | | Realtors went so far as suggesting that the |
| salespeople handle the transactions according to | | | | brokers and agents merely help the selling and |
| law. The sales people are known as real estate | | | | purchasing parties with finalizing the sale, without |
| agents and their responsibilities include representing | | | | the bond of trust. The only requirement being |
| the seller or the buyer in the transactions and | | | | that they adhere to both legal and moral |
| making sure that they get the best possible | | | | standards.The result was that in 2003, Florida |
| treatment. The agent representing the seller | | | | amended the law and made all real estate |
| ensures that the seller receives the highest | | | | licensees have only a transaction relationship |
| possible price for the property they are selling, | | | | unless there is only one person acting as the |
| while the agent of the buyer will negotiate for the | | | | representative for both parties. This will not apply |
| lowest possible price. The buyer's agent will also | | | | if there is a business link between the two |
| try to find properties in the best structural shape | | | | parties.The change in the law also made it |
| that fits within their estimated price range.In many | | | | mandatory that the aspects of the transactions |
| places, such as the United States, it is mandatory | | | | be made in writing and removed the dual and sub |
| for the broker to have a license to negotiate the | | | | agency designations. A dual agency results when a |
| sale and purchase of property. The broker can | | | | broker handles the transactions of both the |
| act as either the proprietor of a company or as | | | | purchasing and the selling parties. Both parties |
| an agent for another company. There are various | | | | would have agreed to this arrangement in writing. |
| ways to get the certification as a broker. One | | | | The sub agency agreement meant that two |
| way is by going to school and passing a state | | | | agents from the same brokerage would |
| test. Another way is to hold a position that | | | | represent the selling and purchasing parties. Like a |
| automatically allows you to apply for and receive | | | | dual agency transaction, it would have to be |
| the certification, such being an attorney.Following | | | | agreed upon in writing by both parties to the |
| 1992, there were brokers from Florida and | | | | transaction.Gregg Hall is an author living in Navarre |
| Colorado that recommended that the professional | | | | Florida. |
| relationship between the agent and the client | | | | |