ALTRU REALTY, LLC
ST PETERSBURG, FLORIDA

Another important nuance to note is that if one starts out as a Single Agent and then wishes to transition to Transaction Broker, a new disclosure must be presented to the seller and signed. This notice is called, "CONSENT TO TRANSITION TO TRANSACTION BROKER." Limited representation means that a buyer or seller is not responsible for the acts of the licensee. Additionally, parties are giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one party to the detriment of the other party when acting as a transaction broker to both parties. The 3 licensee statuses for Brokers are: "Seller's Agent" "Buyer's Agent," "Transaction-Broker" and "Customer." If representing the seller, either the Broker represents the seller as a Seller's Agent (then the buyer becomes a Customer) or as a Transaction-Broker (Broker is a transaction-broker assisting in the transaction; Broker is not the agent of Seller). Under Colorado law, a broker is presumed to be a Transaction-Broker unless a Single Agency relationship is established by a written agreement between the broker and the consumer. A Transaction-Broker assists one or more parties throughout a contemplated real estate transaction with communication, interposition, advisement, negotiation, contract terms and the closing of such real estate transaction without being an agent or advocate for the interests of any particular party to such transaction. Notices should be provided in writing. Realty, we maintain Single Agency status at all times because we believe this is in the best interest of the seller. From Colorado Real Estate Commission - DEFINITIONS OF WORKING RELATIONSHIPS Seller's Agent: A seller's agent (or listing agent) works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller. The seller's agent must disclose to potential buyers all adverse material facts actually known by the seller's agent about the property. A separate written listing agreement is required which sets forth the duties and obligations of the broker and the seller. A transaction-broker assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction without being an agent or advocate for any of the parties. A transaction-broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer's financial ability to perform the terms of a transaction and, if a residential property, whether the buyer intends to occupy the property. No written agreement is required. Additional duties for Broker acting as a Seller's Agent v Transaction-Broker 1. Promoting the interests of seller or landlord with the utmost good faith, loyalty and fidelity. 2. Seeking a price and lease rates and terms that are acceptable to seller or landlord. 3. Counseling seller or landlord as to any material benefits or risks of a transaction that are actually known by broker. The 4 licensee status types for the Broker are: "Seller's Agent," "Broker's Agent," "Dual Agent" and "Dual Agent with designated sales agent." Essentially, if a Broker has a seller's listing, he/she is either acting on behalf of his/her seller as a Seller's Agent or a Dual Agent (if also working for a buyer). A seller can either give advanced consent to dual agency by indicating so in writing on the "New York State Disclosure Form for Buyer and Seller" or this can be disclosed and consented to at the time the dual agency arises (unrepresented buyer requests showing) by changing agency then. Realty, we maintain Single Agency status at all times because we believe this is in the best interest of the seller. From the New York State Disclosure Form for Buyer and Seller: Seller's Agent: A seller's agent is an agent who is engaged by a seller to represent the seller's interests. The seller's agent does this by securing a buyer for the seller's home at a price and on terms acceptable to the seller. A seller's agent has, without limitation, the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A seller's agent does not represent the interests of the buyer. The obligations of a seller's agent are also subject to any specific provisions set forth in an agreement between the agent and the seller. In dealings with the buyer, a seller's agent should (a) exercise reasonable skill and care in performance of the agent's duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. A broker's agent is an agent that cooperates or is engaged by a listing agent or a buyer's agent (but does not work for the same firm as the listing agent or buyer's agent) to assist the listing agent or buyer's agent in locating a property to sell or buy, respectively, for the listing agent's seller or the buyer agent's buyer. The broker's agent does not have a direct relationship with the buyer or seller and the buyer or seller can not provide instructions or direction directly to the broker's agent. The buyer and the seller therefore do not have vicarious liability for the acts of the broker's agent. The listing agent or buyer's agent do provide direction and instruction to the broker's agent and therefore the listing agent or buyer's agent will have liability for the acts of the broker's agent.