👨💼Buyer Representatives Orlando FL
👉http://orlandorealestatebuyeragent.com/buyer-representatives-orlando-fl/ – Check it out to learn more about buyer representative in Orlando FL
👨💼Buyer Representatives Orlando FL – Call Eve at 407-539-1053
👨💼Buyer Representatives Orlando FL
True Buyer Representatives Orlando FL are badly needed by all Florida home buyers. Florida is a “caveat emptor” state which serves as a “buyer beware” warning that the buyer needs to “be aware” of all their real estate nuances. There are about 300,000 licensed real estate agents in the state, yet less than 50 represent home buyers without a conflict of interest.
3 Facts about Florida representation that home buyers don’t know
1. Florida is the only state that does not have mandatory disclosures. Realtors don’t even have to tell you that they don’t work for you.
2. 99.9% of Florida Realtors work as “Transaction Brokers” with absolutely no fiduciary duties to you the home buyer.
3. Florida Agency Laws protect the Broker’s $ commission $, not you, the consumer.
Do Florida home buyers want representation?
Absolutely! Most home buyers want to be fully represented but are not sure how to find a true buyer broker or even who to trust. Blame the “buyer rep” confusion on the current convoluted laws in Florida. By removing mandatory agency disclosures, now brokers do not have to be honest with the consumer. Brokers no longer have to tell you who their allegiance is to. That is important. At one time, Florida laws did require mandatory disclosures that protected the home buyer, but not anymore…
Here’s the untold story about Florida agency laws…
Up until the 1990’s all agents represented the seller. Even agents that were working with the buyers were legally required to get the highest price and most favorable terms for the seller. Home buyers had absolutely no one looking out for them.
What is a fiduciary?
A fiduciary is a person who has a legal or ethical relationship of trust with another party. The duty of a fiduciary is to promote only the best interest of the person(s) who they have established that relationship with.
Who can have a fiduciary relationship in real estate?
Single Agent: a fiduciary relationship is established in writing only with whomever the agent is representing; either the Buyer or the Seller, but not both. Transaction Brokers offer no fiduciary relationships.
Fiduciary duties in Florida representation
Fiduciary duties in Real Estate are: Loyalty, Confidentiality, Full Disclosure and Skill, Care and Obedience. The problem for home buyers is that very few brokers in Florida offer fiduciary duties. Only a seller’s agent or a buyer’s agent can offer a fiduciary relationship…and most of the time it is a “hit or miss”. In other words, they only offer it limitedly, depending on the property they are showing.
Here is a close-up look into all Broker Relationships in Florida:
Sellers broker/agent AKA the Listing Agent: Represents only the seller with full fiduciary duties and total loyalty to the seller. They are seller advocates. They may transition into a transaction broker, in order to assist both the buyer and seller in the same transaction. Please note that “assist” only means that they “facilitate” the transaction with no advice, no loyalty and do not advocate for either party.
Commission paid to Orlando Florida’s Buyer Representatives
Contrary to what many consumers think, the commission to all brokers in Florida is paid the same. Brokers are either paid by the seller, or from a co-op fee from the listing
office or an broker fee included in the contract. The home buyer does not pay an additional fee for representation.
We look forward to hearing from you and thank you for your interest in Buyer Representatives Orlando FL. 407-539-1053
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💒Eve Alexander – Buyers Broker of Florida | 407-539-1053 | 297 South Street, Orlando FL 32730
Buyer Representatives Orlando FL | Call Eve at 407-539-1053