Duties of a Transaction Broker
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Welcome to the course!
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The Real Estate Business
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Law & Qualifications
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License Law And Commission Rules
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Authorized Relationships, Duties, And Disclosure
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Brokerage Offices and Branch Requirements
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Violations Of License Law, Penalties And Procedures
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Chapter 8
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Property Rights
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Title, Deeds And Ownership Restrictions
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Legal Descriptions
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Real Estate Contracts
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Residential Mortgages
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Types of mortgages
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Real Estate Related Computations And Closing Of Transactions
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The Real Estate Markets And Analysis
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Real Estate Appraisal
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Real Estate Investments And Business Opportunity Brokerage
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Taxes Affecting Real Estate
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Planning, Zoning And Environmental Hazards
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Course Assessments
FLORIDA REAL ESTATE SALES ASSOCIATE COURSE
Authorized Relationships, Duties, And Disclosure
Section 20 of 31
As a Transaction Broker (the "Referee"), your job is to be a neutral facilitator. You aren't fighting for one side to win; you are fighting for the transaction to succeed. Because of this, your duties are a mix of standard professional behavior and a very specific type of secrecy called "Limited Confidentiality."The Standard Professional Duties - These are the baseline rules you must follow to ensure everyone is treated with respect and competence:Deal Honestly and Fairly: Just like with a customer, you can't lie or cheat.Account for All Funds: You must handle deposit money responsibly.Use Skill, Care, and Diligence: You can't be sloppy. You have to know what you are doing, track deadlines, and handle the paperwork correctly.Disclose Material Facts: You must tell the buyer about hidden defects (like the leaky roof or the sinkhole) that affect the property's value. You can't hide problems to get the deal closed.Present All Offers: You must deliver every offer to the seller immediately, even if it's a "lowball" offer, unless they have specifically told you in writing to stop bringing them certain types of offers. You are the messenger, not the filter.
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