Orlando Property UK Buyers' Guide
REAL ESTATE AGENTS
Unlike the UK, real estate agents in the US are required by law to be
licensed. In order to obtain a license, the agent must complete an approved
training course and pass a state exam in
Real Estate Principles, Practices &
Law. Licensees must then undergo continuous professional development
(continuing education) throughout their career. The Florida Real Estate
Commission, which operates within the Department of Business &
Professional Regulation, oversees the profession.
Orlando Property UK's David Smith is licensed to practice real
estate in the state of Florida, USA.
Real estate licensees are permitted to perform real estate services under
the direction, control or management of a real estate broker. A broker must
have had at least 12 months' real estate experience, undergone additional
training and passed a further state exam.
Florida real estate licensees are required by law to clearly set out whom
they represent in a real estate transaction and what their responsibilities
and duties are. An agent may act as buyer's agent (exclusively representing
the buyer), seller's agent (exclusively representing the seller), or as a
transaction broker (representing a buyer and a seller for the same listing).
Our Orlando broker acts as transaction broker in residential property
transactions, required by law to provide representation that
includes the following duties:
- Dealing honestly and fairly
- Accounting for all funds
- Using skill, care and diligence in the transaction
- Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer
- Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing
- Limited confidentiality, unless waived by a party. This limited confidentiality will prevent 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 selling or buying a property, that a seller or buyer will agree to financing terms other than those offered, or any other information requested by a client to remain confidential; and
- Any additional duties that are entered into by written agreement
