Today the Consumer Federation of America (CFA) released a new report on transactional brokerage in Florida, which is practiced by most real estate agents in the state.  The report concludes that this agent role:

• greatly limits broker responsibilities and liability,
• is not disclosed and therefore is not understood by most consumers,
• consequently exposes consumers to risks related to the sale price – and for buyers, quality – of the property,
• greatly limits consumers in obtaining redress if treated unfairly,
• despite less responsibility and liability, charges customers the same commission rate charged by fiduciary agents, and
• appears to survive in part because many transactional brokers break the law by providing some of the representation required of fiduciary agents.