If you are buying or selling a horse in Florida, watch out for double agents. It sounds like something out of a James Bond film, but it happens all the time. Agents in Wellington, Ocala, and across the state regularly collect commissions from both the buyer and the seller in the same deal. What many people do not realize, including the agents themselves, is that Florida law requires this arrangement to be disclosed.

Fla. Admin. Code Ann. R. 5H-26.003(2) states that, a person shall not act as a dual agent in a transaction involving the sale or purchase of an interest in a horse without:

. . .

(a) The prior knowledge of both the Purchaser and the Owner; and

(b) Written consent of both the Purchaser and the Owner.

(3) No person acting as an agent for a Purchaser or an Owner, or acting as a dual agent, in a transaction involving the sale or purchase of a horse or any interest therein, may receive consideration, compensation, fees, a gratuity, or any other item of value in excess of five hundred dollars ($500), related directly or indirectly to such transaction, from an individual or entity, including any consignor involved in the transaction, other than the agent’s principal, unless:

(a) The agent receiving, and the person or entity making, the payment disclose in writing the payment to both the Purchaser and Owner; and

(b) Each principal for whom the agent is acting consents in writing to the payment.

Transparency is key. Agents, protect yourselves by making sure your role, compensation, and understanding with the parties are in writing and signed off. You do not want to be in a position where your actions raise claims of fraud, or deceptive practices. As for those buying and selling, know where your agents stand in the transaction.

When the proverbial manure hits the fan, who need to know on whose behalf was the agent acting. I always say good contracts make good friends, and the amount of litigation that comes across my desk from handshake deals and broken dreams is more than I care to count.

Whether you are navigating a horse sale in Wellington, closing a deal in Ocala, or buying or selling anywhere else in Florida, having an experienced equine attorney review your agreements before you sign can save you significant time, money, and heartache. My team represents buyers, sellers, and agents across Florida’s equestrian communities. If you have questions or need a horse sales or lease agreement drafted, call us today.  

Ejola Cook
Partner and Business Unit Leader
Kelley Kronenberg-Fort Lauderdal, FL.
(954) 370-9970
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