First time buyer in USA needs a short explanation of the role of a listing agents, buyers agents etc?

Asked by Hans Visser, Morgan Hill, CA Wed Jun 13, 2012

For instance, if I work with an agent that is listed here as a agent for Tampa, does he/she have access to all listed properties all the way from North of Clearwater to South of Tampa Bay?

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18
John Ackerman, , Tampa, FL
Wed Jun 13, 2012
Hans,

Listing agents work with clients that are selling their homes, buyer's agents work with clients that are looking to purchase a new home. Some agents only work with listings, some only with buyers and many work for both buyers and sellers. Every agent has several tools available to them to assist our clients in their real estate needs, the most important one being the Multiple Listing Service, or MLS. This database provides us access to any and all real estates listings from the areas you mentioned (North of Clearwater to South Tampa Bay.) In addition to this, it is highly recommended that you work with a Realtor who has "hand's on" experience in as many of these communities as possible so as to provide you the most realistic information you need in making a choice for your relocation to the Tampa Bay region. As I mentioned in your previous question, we would enjoy the opportunity to speak with you further and answer any questions that you may have. We have surrounded ourselves with a strong team of professionals, including lending officials that can answer any questions you may have about loan qualifications and financing options.

Please feel free to call or email me at any time,
John


John Ackerman
The Ackerman Team
Century 21 Bay West
813.495.8143
john.ackerman@Century21.com
http://www.TheAckermanTeamTampa.com
1 vote
Thumbs up, very nicely explained.
Flag Thu Jun 14, 2012
Robert Wilson, , Tampa, FL
Tue Jul 3, 2012
A listing agent markets & sells property on behalf of the seller and a buyer's agent will work on behalf of a buyer who wants to purchase a home. While a buyer's agent would have access to properties throughout our metro area, i would suggest getting comfortable with a smaller area and working with an agent who is experienced where you want to buy your home.
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Sun Jul 1, 2012
As a Mortgage Broker here in Tampa I can introduce you to realtors that will assist you in locating your best deal, BUT they go a step beyond and will offer a REALTOR REBATE that buyers could use in the ways: (Pick out 4 live items and contact me )

http://www.trulia.com/blog/steve_31/2012/06/my_buyer_agent_p…

http://www.pro-option.com
0 votes
Carla Muss-J…, , Portland, OR
Sat Jun 30, 2012
Do yourself a favor and get an Exclusive Buyers Agent. They work with buyers only,they are not transaction brokers. Check out NAEBA (National Assoc. of Exclusive Buyers Agent). I don't work in Florida but I have had three relocation buyers FROM Florida who used an EBA with their home purchase in Florida. When they relocated to my neck of the woods, they found me. They were sold on EBA's!!
Web Reference:  http://www.naeba.org/
0 votes
Annette Law…, Agent, Palm Harbor, FL
Fri Jun 29, 2012
Florida is a unique state in regards to the manner in which real estate is bought and sold. As others have pointed out, by default, real estate professionals are transaction brokers.

I've just completed my nearly 30 page Florida Buyers Guide that covers the terms and process from agent selection, to financing, appraisal to closing. It will prove to be a great orientation to the terminology used, those who will be on your team in the home purchase process.

I would be to your advantage to contact one of the Tampa real estate professional responding to your question. They will be invaluable in assessing your situation and directing you towards the resources who have proven themselves able to respect you as a consumer, deliver on time and within budget. The importance of this is seldom realized until things go wrong...It is at that unfortunate time when the realization nobody has any influence or access to the lender in Nevada. There truly are organizations out there that MUST be avoided.

Let the agent you contact provide you access to the MID FLORIDA MLS, 17 counties surrounding the Tampa BAy area. You can see a snapshot at: http://www.FloridaRealEstateMadeEasy.com

Best of Success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4042
Questions? I've got answers!
Chat on: http://www.RealEstateMadeEZ.us
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Tue Jun 26, 2012
Realtor Rebates are an AWESOME benefit to the consumer / buyer! It can be such a substantial savings that 40 states now allow it on purchase transactions. However, some will still say anything to keep consumers from knowing about it in effort to keep the 6% Equity Grab firmly in place!

Though this is actually a good thing as it helps me keep this a Niche, this is why the US Department Of Justice has developed this website to alert uneducated consumers save thousands: http://www.justice.gov/atr/public/real_estate/commission-tab…

Google search this: FLORIDA REALTOR REBATES to see About 5,630,000 results (0.36 seconds)


QUESTION: If a realtor knew of a lender offering a 2.375% Fixed Rate with NO Points would they tell their clients about it?

Exactly how realtors refer buyers to their “Preferred Lenders” to save money, as a Mortgage Broker, I do the same for my borrowers who contact me in advance of getting tied down to any one realtor to help them save Thousands of Dollars in otherwise Forfeited Equity in real estate commission points!

Click here to read how and why: http://www.trulia.com/blog/steve_31/2012/05/why_why_would_a_…



Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404
Fax: 877 440 0909
0 votes
Alma Kee, Agent, Tampa, FL
Tue Jun 26, 2012
Hi Hans,

Just be careful about which lender you decide to go with. Some may overpromise and not be able to close on time or may find a reason to increase your interest rate and/or "lender related fees" when it is too late to go elsewhere. On a purchase transaction you MUST close by the contractual closing date. Otherwise you could risk losing the house or paying daily per diem fees for every day delay in closing. Also some lenders will try to "play the mortgage interest rate market" and will attempt to delay your closing with hopes rates go lower to increase their profit. Here is a very helpful website about mortages from one of the most respected authorities (and an Ivy League Professor):

http://www.MtgProfessor.com

Also some "rebate" schemes may require you to work with a certain lender and "overpay" for your mortgage so you may ultimately end up paying more than your Realtor rebate would give you if you chose your own lender. This is not to say that all Realtor rebate programs are bad...just ones that may require you to work with a specific lender without the ability to control your costs. Even some builders have closing costs incentives that are tied to a specific lender and some will limit the overcharging by a certain fractional percentage with the same "lender related fees". That way you can at least be assured you will not be significantly gouged by going with that lender.

Please contact me if I can be assistance and you're welcome to browse like a Realtor by signing up for a free Lisitngbook account: http://www.SoldOnTampa.com

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
813.244.9898
0 votes
Lynn Brock, Agent, Sarasota, FL
Tue Jun 26, 2012
Han.Visser.ZA, The agents are listed by their Board of Realtors affiliation, this is where they pay their dues as licensed Florida realtors, ie, Tampa, Sarasota, Manatee, Pinellas, Pasco etc.

The real estate licensure requires agents licensed as salespersons and brokers acting as salespersons (broker associates) to place their real estate license with a real estate broker (principal broker of an agency) in order to interact with the public in providing real estate services.

The licensure of salesperson or broker associate or broker does not reflect the experience, work or business ethics of the individual. The professional accomplishments of the individual are based upon individual motivation and determination. The Board of Realtors that the Principal Broker is a member requires all licensed affiliates to be members of the same board.

As part of the Board membership, licensed (active) agents are required to pay a separate MLS fee, lockbox key fee and membership dues paid annually to their local board that monitors active licensed agents to remain in good standing with the Board, State and Federal entities. The Board of Realtors serves as an educational source, oversight and clearhouse agency.

That said, active licensed agents in goodstanding with their respective Boards, are members of MidFlorida. Mid Florida MLS covers approximately 22 counties. All licensed agents have access to the information in Mid Florida. Although all licensed agents have accessed to the information in MidFlorida, each agent defines the scope of their real estate business by area, neighborhood, zip code, distressed, non distressed etc. Thus, all licensed agents have access to areas north of Clearwater, south Tampa, Pasco, Manatee, Sarasota, Charlotte, Desoto counties plus others.

Listing agents represent the seller and mostly the interests of the seller. If a buyer chooses to work with the Listing agent then the Listing agent shifts to the services of a Transactional agent representing no one; not seller or buyer. In Florida it is usual and customary for the Seller to paid the commission to the Listing agent. The Lising agent determines (with agreement of the Seller) how the commission will be split.

Buyers agent work with buyers and represent their interests in a transaction. The cost of their services are paid at closing. Sometimes buyer's agent work out with the buyer for their services to be paid by the buyer, this would be contracted in a Buyer's Agreement and disclosed at the beginning of working with a Buyers agent.

The Buyer is still responsible for conducting any and all due diligence during the inspection period of the contract. Ask the respective agent for references when deciding whom to work with as your buyer's agent. Selecting an agent from a large national corporation, mid size firm or independent firm does not correlate as to the individual's knowledge, skills and abilities. It is purely individual and whom you feel best represents your interests.

Good luck

Lynn Brock
Brock Realty Inc.
941.313.1234
http://www.brockrealty-inc.com

If you'd like to search the MLS like an agent in real time, you can visit our website and sign up for a free Listing Book account. You will be able to change the search criteria to suit yourself and received morning reports regarding new listings, price changes and recent pendings.
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Mon Jun 18, 2012
Yes Hans, it's very easy for any realtor to look at the Menu called the MLS and access all of those areas.

I will also will be responing to your email Hans
0 votes
Bill Eckler, Agent, Venice, FL
Mon Jun 18, 2012
As a first time buyer, its important to understant the need to have an agent in your cornet that will serve to protect your interests. Thus, using the listing agent to support the buyer may not get the results you require. Make sure you work through a buyer's agent..not the seller's agent.

Good luck,

Bill
0 votes
Hi Bill, I am a first time home buyer too. How do I find buyer's agents opposed to seller's agents?
Flag Wed Jun 20, 2012
Jeanne Gleas…, Agent, Apollo Beach, FL
Mon Jun 18, 2012
The role of the listing agent is to research the propery and help the seller find a price that will attract buyers. The buyers agent works with buyers to help them find the right fit at the right price. Yes, realtors have access to all types of listed properties in large areas. In fairness to you, if you were not interested in a property in my area, I would refer you to someone closer and more knowledgable about the demographics of the area you choose.
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Fri Jun 15, 2012
The realtors I work with in the Tampa Bay area will not only help buyers locate and work their best deal, they also will help with the down payment (on certain loan programs) or pay for closing costs too out of what the property is paying in real estate commision.


Contact me and set you up with one:

http://www.trulia.com/blog/steve_31/2012/05/why_why_would_a_…
0 votes
Bill Szydlow…, Agent, Tampa, FL
Thu Jun 14, 2012
Hans,

Agents in Florida are required by law to be transaction brokers, that is, they represent no one and just put the purchase/sale together with little loyalty or confidentiality for either party, but are required to fully disclose all facts and be expeditious in the process. The other alternative is as a single agent for either party in the transaction. this requires notification that the agent represents you, which means you get full confidentiality, full loyalty, in addition to the other requirements of being an agent. this is the one our Broker requires us to be in the transaction, either for the buyer or the seller. Only when the property is being listed and sold by our brokerage, are we allowed to be a transaction broker. Listing agents usually start out as a single agent for the seller, representing them, and can transition to a transaction broker, notifying both the seller and the buyer that they are doing so. If you are going to work with a listing agent on a transaction, find out first who they represent and get it in writing (there are forms for such notifcations). Most agents in the Mid-Florida area can work in about 6 counties., because the MLS covers the mid-section of Florida. We work in basically 3 counties mainly because distance and knowing any larger area is very difficult.

Hope this answers your questions and please feel free to contact us with any questions.

Bill Szydlowski
0 votes
Thomas May, Agent, Tampa, FL
Thu Jun 14, 2012
Hi Hans,

Yes, agents in our mls area easily access Pinellas and Hillsborough county. Without written representation Florida assumes the agent is working as a transactional agent. This means the agent can not harm either party and is assisting in getting the transaction closed you can have an exclusive representation with a buyers agent in which they just represent you only conflict would be if you were looking at one of their listings or one in their office then they would have to be a transactional agent.

What you may want to consider is their experience and understanding of the market.

Tom May
Keller Williams
0 votes
Alma Kee, Agent, Tampa, FL
Thu Jun 14, 2012
Also the Seller pays the commission to both the listing Broker and the Buyer's Broker. On the very best deals (bank owned) you will need an active and attentive Realtor to get you into the property immediately and also immediately make your offer.
0 votes
Lisa Reeves, Agent, Tampa, FL
Wed Jun 13, 2012
To answer your question about listings - yes. Our multiple listing service is called MidFlorida Regional. I have accessed homes for clients in Orlando and was able to look up comparable listings for my parents in Daytona Beach. I currently have a listing in Sarasota/Manatee area, Tampa, St. Petersburg, and Floral City just an hour north of Tampa. My last client and I looked at homes in Trinity and New Port Richey. I can also give you access to all the same information through a website service called Listingbook.

The Listing agent and Buyers agent (sometimes referred to as Selling agent) can be two different people or can be the same person. An agent's role as a listing agent is to market the property, show the listing, and know the real estate transaction and market protecting their sellers interest. A Selling agent's role is to find homes, show homes, and know the real estate transaction and market to protect their buyer's interest. If you have any other questions please contact me directly.
0 votes
Alyssa Tsias, Agent, Tampa, FL
Wed Jun 13, 2012
Hey there-

For the most part, yes. However some agents may only choose to work certain areas ie Tampa and not Clearwater for example. I hope that was helpful.


Alyssa Tsias
McBride Kelly & Associates
Atsias@live.com
8137777343
0 votes
Tonya Bouvet…, Agent, Tampa, FL
Wed Jun 13, 2012
Hans,

It depends on the agent. Some agents specialize in various cities or neighborhoods, others have a wide variety of areas under there belt. As a local buyers agent I have clients from all four of the area counties and work hard to ensure that they are well educated and taken care of.

Please feel free to call or email me with any questions,

Tonya Bouvette, Realtor, CDPE, CNHS
727-946-7296
tbouvette@prutropical.com
0 votes
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