06Aug What are the duties of a limited service flat fee mls listing broker?

The duties of a flat-fee mls real estate broker will strictly depend on the laws of the state in which the property is located. If your state does not impose minimum service requirements, then the duties will be limited to the following:

As a real estate licensee who has no brokerage relationship with you, (insert name of Real Estate Entity and its Associates) owe to you the following duties:

1. Dealing honestly and fairly;

2. Disclosing all known facts that materially affect the value of residential real property which are not readily observable to the buyer.

3. Accounting for all funds entrusted to the licensee.

“Broker” means a person who, for another, and for a compensation or valuable consideration… takes any part in the procuring of sellers, purchasers, lessors, or lessees. Sec. 475.01 Fla. Stat.