Buying agents are free to you
It is not a scam, it is how Florida law is set up to protect the buyer. Here are the Florida statues if you do not believe me: transaction brokers and single agent relationship . There are no duel agents like in other states. Therefore, you as a buyer pay no commission, nothing. Why would you not want someone on your side when buying a home?
The number one reason for using a Property search agent – On your home hunt – you need someone to show to physically open the homes and show the home, town house or condo. I can also help with a relocation search if you are remote, a I did this many times myself. Online searches only take you so far, you need facts and raw data and to inspect the physical property. You can not see a listing without an agent, that is why there are lock box keys. We are license and have responsibility.
How do commission work in Florida?
Most people do not realizes that. On a property listed for sale typically the commission is 6% paid by the seller. If there is no buyers agent, then the sellers broker keeps the 6%. If there is a buyers agent involved they split is 3% and 3%. So if you use a buyers agent it cost you nothing, so you might as well use a purchaser agent. There are no hidden fees associated with a buyers agent’s service.
- Hi I am Mark and I want to help you search and browse homes
Who does a listing agent represent?
Most people think that a real estate agent represents them. It is not true if they are the listing agent. Not matter how nice they smile at you, if they are a seller’s agent, a listing agent, they are bound to be loyal 100% to the seller. This usually translates to maximizing the sellers price. Nothing wrong with that, this is just the way things work. My point is many people are confused about the lines of loyalty.
Oh and did you know, being a duel agent in Florida is not legal. In the State of Florida agents can not represent both sides. Yes, all this should be disclosed. You can have non-broker representation and transaction brokers, but not duel agents.
We follow the Realtor code of ethics
Then what is a buyers agent ?
A buyers agent represents the buyer
- 100.00% allegiance
- no conflict of interest – fiduciary responsibility to you
- Full MLS access
- truthful home appraisals
- Negotiating power – negotiates hard for you
- expect on buying homes instead of a jack of all trades.
- Makes your life easier – Someone is working for you with full resources
- Full disclosure of adverse conditions
- Accounting – Handles the flow and calculation of funds accounting to Florida state law and customs.
- fiduciary duties
- No multiple representation
- Purchase contracts and forms
- First time home buyers – need a coach
The loyalty and trust is with you. A buyers agent works to find you a house that fits your needs for the best price possible.
I do the investigative work to see what is possible in regard to the price. The housing market is inefficient and information is imperfect. Forget the inner network of hand shacks, winks and nods of old school bankers and sellers agents. I represent you.
Who pays me? In Florida commissions come from the seller and the money is negotiated from broker to broker then compensation for the sales agents. The buyer does not pay the commission.
What is the difference between a transaction broker and a buyers broker?
In contrast a transaction agent or broker does not represent anyone, but does the paperwork and forms. They legally can not be partial. This is more for people who have had a lot of experience in real estate legal documents. Most agents do not make you sign an exclusive buyers agent contract, rather they base the relationship on trust as you work with them to close the house.
My mission is to make sure the buyer is happy
Price is subjective. That means something is worth what someone will pay for it. Objective measures of price are not as accurate as the market and the subjective preferences (indifference curves) of the buyer and seller. Supply and demand based on subjective preferences is the basic law of economics for price determination. People say I can not sell my house. I tell them the price is too high, if the price was one dollar it would sell. Price is the intersection point where the market clears.
Mark Biernat 904-494-8444 – text me and ask a question.
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