What Winter Park Home Buyers don’t know about Real Estate Agents…
1.The Winter Park listing agent is not your buddy.They work for the seller and their job is to sell the property for the highest price and most favorable terms for the seller.
2. If a Winter Park property is listed with XYZ Realty, every agent that works at XYZ Realty is obligated to promote their brokers company listed properties. Some agents get paid more commission if they sell “in house”.
3. In Winter Park Florida 99.99% of real estate agents practice as “Transaction Brokers” with no loyalty to either the home buyer or the home seller. If so, you as a Winter Park Home buyer, have no one to advocate for you.
4. In Florida, if you wish to be a represented home buyer, you must have a written agreement with a Florida Real Estate Buyers Agent. The agreement must be specific about the duties of the agent,otherwise you are on your own.
5. If you are not a Home Buyer represented by a Home Buyers Agent, more than likely you will pay more than you need to for a property with terms that may not be favorable to you.
6. There are Buyers Agents in a traditional office and there are specialized Exclusive Buyers agents. The difference is like day and night. Only an Exclusive Buyers Agents can represent you on any property in Winter Park, or the state of Florida, with never a conflict of interest.
- U.S. Department of Hud says: “It is your responsibility to search for an agent the will represent your best interests in a real estate transaction. If you want someone to represent only you, consider hiring an “Exclusive Buyers Agent”
- Kiplinger’s Personal Finance: “Exclusive Buyers Brokers are obliged to help you find the best deal and lowest price.
- Consumer Reports: Make sure you get a Buyer’s Agent who’s genuine…at a firm that does not accept listings.
- Money Magazine: Confide to a traditional real estate broker that you’re prepared to bid as much as $XXX on a house and the broker will tip off the seller. Tell a Buyers Broker, and the seller will never know.
Copyright @ Buyers Broker of Florida 2012 “Six things that Winter Park Homebuyers don’t know about Real Estate Agents”.