Working
with A Realtor in Orlando
- Q & A
Back Next
Q:
Can
I use an agent for a new home?
A:
Yes,
however buyers should be aware of
the differences inherent in working
with sales agents who are employed
by the developer, rather than traditional
real estate agents.
Builders commonly require that an
outside agent be present - and sign
in - the first time a prospective
purchaser visits a site before payment
of commission even is discussed.
At times when buyers find the development
themselves first, builders can refuse
to pay any commission regardless
of how helpful an agent may become
later in the process. It is advisable
to call the development first and
inquire about their policy on compensating
real estate agents if you are using
one.
Q:
How
do I find a real estate agent?
A:
Getting
a recommendation from a friend or
work colleague is an excellent way
to find a good agent. Be sure to
ask if they would use the agent
again. You also can call the managers
of reputable real estate firms and
ask them for recommendations of
agents who have worked in your neighborhood.
If you are a seller, you should
expect to review a comparative market
analysis, which includes recent
home sale prices in your area, when
you talk to a prospective agent.
The best choice isn't always the
agent with the highest asking price
for your home. Be sure to evaluate
all aspects of the agent's marketing
plan and how well you think you
can work with the individual. If
you are a buyer, you don't usually
pay for your agent's services (in
the form of a commission, or percentage
of the sales price of the home).
All agents in a transaction usually
are paid by the seller from the
sales proceeds.
Q:
How
much does my real estate agent need
to know?
A:
Real
estate agents would say that the
more you tell them, the better they
can negotiate on your behalf. However,
the degree of trust you have with
an agent may depend upon their legal
obligation.
Agents working for buyers and/or
sellers in Florida can represent
the buyer or seller exclusively,
called single agency, or represent
the sale of the home for both the
buyer and seller in a Transaction
Broker situation (dual agency is
illegal in Florida.) A Transaction
Broker situation exists if two agents
working for the same broker represent
the buyer and seller in a transaction
and a conflict of interest is avoided
since neither agent shall disclose
to the buyer that the seller will
accept less than the list price,
or disclose to the seller that the
buyer will pay more than the offer
price, without express written permission.
Or a single agent can show a listing
from its own agency by becoming
a Transaction Broker. A Buyers Broker
is an agent who can never become
a Transaction Broker and thus can
never show its own agency's listings.
Florida requires agents to disclose
all possible agency relationships
before they enter into a residential
real estate transaction since some
brokerages are Transaction Brokers
only or are Buyers Brokers only.
Copyright
2006 Inman News Features
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