If you want to make your home a good investment,
you need to make sure you buy low and sell high.
Worried about home sellers and their agents
looking out for their own interest and taking
advantage of you? Here is how you can
protect yourself and make sure you get the best
deal possible. You'll get a home of your dreams
at the best possible price in a matter of days.
You want a cozy, clean home in a nice, safe
neighborhood with great schools, and you want it
at a great price. We are here to help you find
it. Together, we will look at all the available
choices, narrow them down to match your ideal,
drive around and see your favorites, and then we
will negotiate the best possible price on the
home of your choice and make sure you are not
paying over the fair market value.
"I would like to take
this opportunity to commend Lance Mohr for the
outstanding job he has done in working with my
husband and me in our quest to find a home.
Lance has exhibited all the qualities we had
anticipated in searching for the right real
estate consultant to represent us in
coordinating efforts to find a home. His
integrity along with his professionalism,
honesty, patience and consistent follow through
is definitely a quality Keller Williams should
be proud of with Lance. I feel confident
that I would recommend Lance to any prospective
buyer or seller that needs a consultant that
will represent them with quality service.
Sincerely, Bernadine Eberle"
Become a VIP Home Buyer
First of all, what does "exclusive buyers
agent" mean? "Exclusive buyers agent" is
simply someone who will work solely for you, the
home buyer. Here is a little history: In 1983, a
Federal Trade Commission study revealed that
over 72% of all home buyers mistakenly believed
that they were represented by the agent who was
showing them homes. The fact was that most
agents showing homes were representing sellers.
And by legal requirements of agency
representation, agents must negotiate in the
best interest of their clients (the sellers) by
not withholding any information from them
(possibly meaning they would reveal such
important information as buyer's motivation,
financial qualification etc.) and presenting
their property in most favorable way. When
consumers became aware of this, they demanded
their own representation, and as a result, laws
requiring disclosing representation were passed
all over the country... An exclusive buyer agent
does not have a conflict of interest since he or
she only represents the buyer in a
transaction. Exclusive buyers agent will
negotiate in buyer's best interest, and will not
have to disclose buyer's confidential
information to the seller.
You may also wonder: how do exclusive buyers
agents get paid? There are several ways to go
about it, and you are the one to make the
choice. The most common way is to divide the
typical commission between the listing broker
and the selling broker at closing. Including
words "buyers agent gets paid on behalf of the
buyer from the transaction proceeds" in the
contract secures the representation. And since
the payment comes from the proceeds at closing,
there is no cost to use an exclusive buyers
agent upfront!
In the state of Florida there are many different
types of representation. The term "single
agency" sometimes is used instead of
"exclusive buyer agency" but they essentially
mean the same - the agent will solely represent
you, the buyer. The most common representation
however is "transaction broker" (in fact,
approximately 98% or all REALTORs would fall
into this category). The reason for this is
that most real estate companies such as Re/Max,
Keller Williams, Coldwell Banker or Prudential
prefer building long term relationships with
their clients by helping them not only buy
homes but also sell them when the time comes.
Therefore, these companies work with home buyers
AND sellers thus creating a possibility
for conflict of interest from the legal stand
point. But in reality the conflict only occurs
when agent shows the buyer one of OWN listings,
and the chances of you buying his/her OWN
listing are slim simply due to the fact that
there are hundreds times more listings in the
market that are NOT his/hers. The Transaction
broker is bound by Florida law to represent the
broker (agent) to represent the transaction.
When using a Transaction broker the Florida Law
requires that real estate licensees will NOT
disclose: that the buyer will pay a price
greater than the price submitted in a written
offer, the motivation of the buyer, that a buyer
will agree to financing terms other than those
offered, or any other information requested by
the buyer to remain confidential, use skill,
care and diligence in the transaction. These are
just some of the duties a real estate licensee
must provide. The point here is that a
Transaction Broker just as well can protect your
best interest.
If you want to make your home a good investment,
you need to make sure you buy low and sell high.
Worried about home sellers and their agents
looking out for their own interest and taking
advantage of you? Here is how you can
protect yourself and make sure you get the best
deal possible. You'll get a home of your dreams
at the best possible price in a matter of days.
You want a cozy, clean home in a nice, safe
neighborhood with great schools, and you want it
at a great price. We are here to help you find
it. Together, we will look at all the available
choices, narrow them down to match your ideal,
drive around and see your favorites, and then we
will negotiate the best possible price on the
home of your choice and make sure you are not
paying over the fair market value.
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