If you want no representation, there is Non-Representation and its own disclosure. Transactional Brokerage creates a limited form of representation (see below), while Single Agency brings establishes a much tighter fiduciary relationship. today to have our attention to detailand real estate transactional and litigation experience provide you with the insightto achieve solutionsto your most complex real estate matters.The purpose of this blog is to show you what is meant by the term, "Transaction Broker" as defined by Florida Statute 475.278 (2) If you think you are owed a commission on a residential or commercial real estate transaction, it is imperative you speak with an experienced real estate attorney as soon as possible.Ĭall the Law Offices of Jarrett R. For residential real estate transactions, the broker’s entitlement to a commission is determined by Florida common law as discussed above. In certain circumstances, the Act protects the interest of the procuring broker by allowing them to file and foreclose on a lien on the proceeds from the transaction. It is important to note that for commercial real estate transactions, the broker’s entitlement to a commission is protected by the Florida Commercial Real Estate Sales Commission Lien Act under Chapter 475, Part III, Florida Statutes. In some cases, depending on the contract at issue, attorneys’ fees and costs can also be awarded to the prevailing party in a procuring cause lawsuit. The damages available to a broker in a breach of contract action against the seller for recovery of a commission under the procuring cause doctrine may include the amount of the agreed to, or a computed commission, interest, and punitive damages. The initial contact with the purchaser.The roles and relationships of the parties.The nature, status and terms of the listing agreement or offer to compensate.The nature and status of the transaction.Common factors that are considered in broker commission lawsuits are: One factor is not determinative by itself. Each factor is weighed in conjunction with the other factors relevant to your case. Whether a broker is the procuring cause of a sale must be factually determined on a case-by-case basis using many factors. The broker/agent must meet two requirements under the doctrine to have performed the terms of the contract and be entitled to a commission: (1) initiate negotiations by doing some affirmative act to bring buyer and seller together and (2) remain involved in the continuing negotiations between buyer and seller. The procuring cause doctrine applies to the third element above regarding the broker’s performance under the contract.
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