Home Buying in 34102>Question Details

Beverly Howe,…, Real Estate Pro in Naples, FL

In FL is there any other "type of agent" other than "Single Agency" buyer broker/agent who can legally negotiate exclusively for

Asked by Beverly Howe, ABR, GRI, CIPS, Naples, FL Thu Aug 23, 2012

the buyer?

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4
Of course. Why are you asking these questions if you are a broker? You're asking on the public forum and I think you'd want to go to the agent to agent section.
2 votes Thank Flag Link Thu Aug 23, 2012
I am asking my questions on the public forum to find out if the consumer public knows the difference between a true buyer broker and someone who is a traditional agent. The public most often assumes the agent they talk to represents them in Florida, when that if fact is not the case at all. In Florida all agents are considered transaction agents unless they disclose in writing that they are a single agent buyer broker or seller broker. Buyers can't ask questions if they don't know what to ask. I am a buyer broker and buyer advocate trying to educate the consumer public. No doubt I will get some "riff" from a few folks. My business is unique, there would be more true buyer brokers if the traditional real estate community didn't try to keep us locked up in a closet.
Flag Thu Aug 23, 2012
Just because an agent has the Accredited Buyer's Representative designation does not mean that the buyer will be guaranteed buyer representation from that agent. If the office the agent works for has any listings at all which might be an interest to the buyer, the agent representing themselves as a buyers agent must then transcend back to a Transaction Agent who can no longer give the buyer representation. Then they become a buyer/seller Transaction Agent even if it is not their own listings. Transaction Agents have very limited liability in the transaction. An Exclusive Buyer Broker has real liability, and you can sue them if they do not represent you properly. It is very unlikely that you can sue a Transaction Broker, because they don't represent anyone. When the Transaction Broker gets in the middle between the buyer and the seller, their favorite words become; I can not say.

Buyer's can only be guaranteed representation when they choose to work with an exclusive buyer's agent or broker, who will never change sides because their office does not list seller' properties. The reason a buyer's agent might want an agreement, is because they typically the buyer to sign a Single Agency disclosure that has a second part which gives that buyer's agent the opportunity to change back to a Transaction Broker, if a listing becomes available in their office that would be of interest to the buyer.

An Excluseve Buyer Broker will only ask the buyer to sign simple Single Agency form which does not have a second part which gives permission to transcend. You can view this Single Agency from on my homepage. The State of Florida form states that the buyer's agent must provide the following duties to the buyer. Seller's agents can also represent seller's exclusively with the same Single Agency form.

1. Dealing honestly and fairly;

2. Loyalty:

3. Confidentiality;

4. Obedience;

5. Full disclosure:

6. Accounting for all funds;

7. Skill, care, and diligence in the transaction;

8. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing: and

9. Disclosing all known facts that materially affect the value of residential real property and are not readily observable.

Beverly Howe, CIPS, ABR, GRI, TRC
Florida Buyer Broker
Informative homepage: http://www.floridabuyerbroker.com
Owner – Exclusive Buyer Broker
Email: broker@floridabuyerbroker.com
Local Direct: 239-601-2013
US and Canada Toll Free: 1-800-283-7393
Cell phone: 239-269-2766
0 votes Thank Flag Link Sun Sep 2, 2012
ABR® vs. Buyer's Rep: A REALTOR® Designation

But not all buyer’s reps are equal. A buyer’s rep who has earned the Accredited Buyer’s Representative (ABR®) REALTOR® designation has made an extra effort to raise the bar,

A buyer’s representative (or simply buyer’s rep) is a licensed real estate professional who represents prospective home buyers in their property transaction.

If you’ve formalized an agency relationship, typically by signing a buyer’s rep agreement with a buyer’s rep, you can expect him or her to:
Understand your specific needs and wants, and locate appropriate properties.
Assist you in determining how much you can afford (pre-qualify your mortgage).
Preview and/or accompany you in viewing properties.
Research properties, to identify any problems or issues you should consider.
Advise you in formulating your offer.
Help you develop your negotiation strategy.
Provide a list of potential qualified vendors (such as inspectors, attorneys, lenders, etc.) for other related services that may be needed.
Keep track of all the details throughout the entire transaction—to closing and beyond.
In other words, a buyer’s rep should make your home buying experience go as smoothly and successfully as possible.

But not all buyer’s reps are equal. A buyer’s rep who has earned the Accredited Buyer’s Representative (ABR®) REALTOR® designation has made an extra effort to raise the bar, with additional training and experience in serving you, the home buyer. If you work with an ABR®, you can feel more confident that you’ll receive the highest level of buyer-representation services.


Debra McAlister-Brown, P.A, Accredited Buyers Rep.

International Luxury Home Marketing Specialist

Florida Home Realty


239-898-9933

http://www.DebraSellsFlorida.com

1-888-943-4452 - Fax

DJMSellsSWFL@gmail.com
0 votes Thank Flag Link Sun Sep 2, 2012
Ditto, Peggy Wagner's answer below...you need to go back to school....shame on you. (8/23)
0 votes Thank Flag Link Thu Aug 23, 2012
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