Buyer Representatives in Orlando FL

By
Real Estate Broker/Owner with Buyers Broker of Florida
https://activerain.com/droplet/5lhf

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.

 

Buyer Representatives Orlando FL – Get in touch with the top exclusive buyers agent in the Orlando FL!

 

Today, you have found someone you can count on, to represent ONLY your best interest without double talk. We are true Buyer Brokers (also called Exclusive Buyer Agents) who exclusively represent only home buyers. Call Buyers Broker of Florida for a no pressure chat to answer your hardest questions: 407-539-1053.

 

3 Facts about Florida representation that home buyers don’t know


Buyer Representatives Orlando FL – Looking for someone to help you with your move to Orlando FL? Turn to Eva Alexander.


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. At one time, agents had to tell buyers who they really represented...but too many brokerages complained, so the Florida Real Estate Commission removed that Broker requirement.

 

99.9% of Florida Realtors work as “Transaction Brokers” with absolutely no fiduciary duties to you the home buyer. No loyalty, no full confidentiality, no full disclosure....they simply facilitate the transaction...sometimes for both buyer and seller at the same deal. They cannot give advice, or advocate for you.

 

Florida Agency Laws protect the Broker’s $ commission $, not you, the consumer. Florida’s broker responsibilities have been diluted and in many cases true buyer representation is either non-existent or simply a watered down version due to the potential for conflict of interest.


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… 

 

Buyer Representatives Orlando FL - Know why Orlando FL is an ideal place to have your home!

 

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.

 

As a few brokers started representing the home buyer, Florida responded by creating “dual agents” to represent both the buyer and seller in the same transaction. That way, some brokers were still able to keep making that double commission. However, brokers had to disclose their status as a “dual agent,” which sounded too close to the words “double agent”. Those words were easy for home buyers to understand and they rejected “dual agency”. So again, Florida changed the rules to accommodate the brokers. They re-named “dual agents” to “transaction brokers” a nicer title, with even less broker responsibility to the consumer.

 

So today, all brokers are presumed to be “transaction brokers”, unless there is a written agreement for single agency representation. On a positive note, there are some dedicated brokers in central Florida that do practice Exclusive Buyer Representation, as a true fiduciary.


What is a fiduciary? 

 

Real Estate Properties in Orlando FL - You will be grateful every single day when you live in a luxury home in Orlando FL.

 

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.

 

A fiduciary has greater knowledge and expertise about the matters being handled. Therefore, they are held to the highest standard of conduct and trust above that of a casual business relationship.

 

The fiduciary must avoid all “conflicts of interest” particularly when the potential benefit to them conflicts with what is best for the person they are supposed to representing. For example: A broker who is a fiduciary cannot recommend or advise the client to use certain services without disclosing the financial benefit or other perks that the broker might receive. Many listing offices have “affiliate” controlled business relationships with lenders, title companies, inspectors and insurance companies.


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.

 

A Buyer can have a fiduciary relationship only with a Buyer’s Broker or Buyers Agent.

A Seller can have a fiduciary relationship only with the Seller’s Broker or Sellers Agent. (also called listing agent)

 

A fiduciary relationship in Florida must be a written agreement that spells out the duties, requirements and expectations of both parties.

 

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.

 

Unless you are working with an Exclusive Buyer Agent whose office never represents sellers and represents only home buyers 100% of the time, you the homebuyer, are probably not being fully represented at all.

 

Now that you know about your best choice for the highest level of representation in Orlando Real Estate, let’s take a look at what other Florida relationships you may encounter.

 

 

Here is a close-up look into all Broker Relationships in Florida:


Real Estate Agents in Florida – Contact us now for a no obligation, no pressure, complimentary phone chat about your best buying options at 407-539-1053.


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.

 

Duties of a Seller’s agent: to get the highest price and most favorable terms ONLY FOR THE SELLER. A seller’s agent may be extra nice while acting like your best friend, but the law says differently. Their job is to make you fall in love with their listing. Their legal obligation is to protect the seller. Their moral and ethical obligation is also only for the seller. A seller’s agent will not tell you that the property is overpriced, or that there are train tracks a block away or that the house needs a new roof. Their obligation is only to the seller and they cannot tell you negative information about the property or the sellers motives.

 

Sellers agents are however legally obligated to tell the seller everything about you. How much money you have, how much you love the house and how much you are willing to pay…

 

Remember: There is no requirement in Florida for a broker to tell you who they are really working for. Chances are that you won’t understand how the game is played until you have a problem...which is too late. The listing agent typically represents the seller as a sellers agent and that is who has the “for sale” sign in the yard. Don’t call on a sign in the yard!

 

Studies have shown that home buyers that use the listing agent will not get the most favorable price or terms. Which is why smart home buyers will always find a buyers agent before they start looking at homes.

 

Biggest home buyer misconception: Some home buyers think that working only through the listing office (sellers agent) will automatically lower the commission and the purchase price to the buyers benefit. Absolutely not true. A home buyer will never benefit...only the listing agent will benefit by keeping both the listing commission and the selling commision...in their own pocket, not yours.


Transaction Broker


All brokers in Florida are presumed to be a “Transaction Brokers”, unless there is a single agency relationship established in writing. About 99.9% of Florida Brokers practice as “Transaction Brokers” as they “facilitate” the transaction with no fiduciary duties. No loyalty; no total confidentiality, no full disclosure. While the broker is legally allowed to call that “limited representation”, it is not true representation as common sense would dictate...not at all what you would think. The licensee can use the words “limited representation”, yet no part of that is really any “representation” at all. Read on:

Florida statute 475 “Transaction Broker” definition states: “Limited” representation means that a buyer or seller is not responsible for the acts of the licensee. In addition, parties are giving up their rights to undivided loyalty of the licensee. This aspect of limited representation allows a licensee to “facilitate” the transaction by “assisting” both the buyer and seller.”


Duties of a Transaction Broker: To be a middle person...a facilitator, to put the deal together. They cannot advocate or be on anyone’s side. It is simply a fact that sellers and buyers do have opposing interests and are best served by having their own agent.

 

Remember: The seller always wants the highest price for their property. They also do not want to fix anything or reduce the price for a short appraisal. You, the home buyer, want to pay the lowest price and not be burdened with property deficiencies. For certain, you do not want to pay out of pocket for a short appraisal. It is impossible for a transaction broker to “help” you, which is why every home buyer needs to have their own buyer agent.


Buyer Agent in a traditional listing office...


They may act as your buyer agent if the situation fits. If they are showing you homes not listed with their office, they can probably represent you as a buyer agent. However, if their office agency policy is a “Transaction Brokerage” they must adhere to their office policy and remain as a transaction broker. If the property is listed with their office, they cannot represent you as a buyer agent, as that would be a conflict of interest.

 

Duties of a Buyer Agent in a traditional listing office: The duties will vary depending upon what the relationship is in the transaction. They may sometimes represent buyers, sometimes sellers, sometimes act as a transaction broker. They can change hats several times even when they are showing you homes.

 

Buyer Agent/ Buyers Broker in an Exclusive Buyer Agency office

 

Licensed Realtors in Florida – Looking for a home in Florida? Contact us now, we’ll make your buying transaction hassle-free for you!


An Exclusive Buyer Agency office is an office dedicated to only homebuyers. As such, they only represent the best interest of the buyer and never the seller. There is no double talk, secrets from the buyer or conflict of interest. They do not act as “transaction brokers” and never make double commission.

 

Duties of an Exclusive Buyer Agent: To promote the buyers wants and needs. To advocate their position. To disclose everything about the property or the seller. Exclusive Buyer Agents have a committed relationship of trust with the home buyer only.


They choose not to list homes so they never have an obligation to the seller or to push any particular inventory. However, they do have access to any and all properties on the market and will show you all suitable properties without bias.

 

Buyers Broker of Florida is an Exclusive Buyer Brokerage that represents only the home buyer. We provide all home buyers with the following:

 

100% Loyalty: Only and always on your side on every property, in all situations, with no conflict of interest.

 

100% Confidentiality: We do not blab about your money, your job, or how much you love the property. We keep your personal life confidential.

 

100% full disclosure: We tell you everything...the good, the bad, and the ugly. Absolutely no secrets.

 

Skill care and obedience. We stay educated about real estate nuances in order to serve you best and will always obey your lawful instructions.

 

Remember: Not all brokers are the same. They all have different relationships and different duties They also have different levels of experience. You are always best served by a brokerage that is committed only to you. One that is experienced at buyer representation.

 

Homes for Sale in Florida – Call me, Eve Alexander, at 407-539-1053, to make buying a home in Florida easy for you!

 

Why you should have Exclusive Buyer Representation in Florida

 

Are you overwhelmed with home buying? Stressed about overpaying? Not sure of where to buy? We are knee deep in working daily only for buyers. As Exclusive Buyer Brokers we know all the home buying answers and can make you a confident home buyer.

 

Often, sellers hide problems and sellers agents claim not to know. Even experienced home buyers cannot figure out on their own how to resolve issues...or even recognize a problem.

Here is a true short story...limited to just 3 transactions that are closing end of this month.

 

#1 Nice luxury home. Inspections reveal that the top-of-the-line washer does not work. Agent wants to replace it with a cheap model, claiming that it is the same model...it’s not. We negotiate a brand new top of the line model for the buyer.

 

#2 We negotiate to have the seller fix the roof. Seller does a minor roof repair but skips the most important part; replacing the rotten wood. We make them go back and replace the rotten wood and also provide a receipt.

 

#3 New construction, national builder. Buyer signed contract months ago with builder which included some promised upgrades. Now builder claims that they can’t, because they no longer provide that in the community...so is it just too bad for the buyer? Not in my book...

 

There are differences of opinion and problems that come up in most transactions which require a skilled buyers agent to resolve, negotiate or renegotiate. We at Buyers Broker of Florida are experienced Exclusive Buyer Agents and pros at spotting the red flags. We remove the buyers stress by resolving issues for them.

 

Remember: The reason there are two attorneys in every courtroom is so that each side has an advocate and is treated fairly. The reason attorneys are not allowed to represent both the plaintiff and defendant in the same case is because it is an inherent conflict of interest. Think about it.


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 a 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

 

 

In case you cannot view this video here, please click the link below to view Buyer Representatives Orlando FL on my YouTube channel: https://www.youtube.com/watch?v=aQPuX2KmFUs&list=PLp2S85it34B7PAVNJgmVXjylpIh5qwnb8&index=8&t=0s

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Representing ONLY the best interest of the Home Buyer...never the seller.

 Eve Alexander Orlando Buyers Agent

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Barbara Todaro 11/04/2019 03:29 AM
  2. Mott Marvin Kornicki 11/04/2019 06:29 PM
Topic:
Real Estate Sales and Marketing
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buyer representatives orlando fl
orlando fl buyer representatives

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Rainmaker
5,119,644
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Eve Alexander for starters, Florida should change their real estate laws.... buyer beware went out with Chapter 93A in Massachusetts.... full disclosure is absolutely necessary... anything that would make a buyer change his/her mind about buying a property must be disclosed.... or prepare yourself for a long court battle...

buyers must be aware of the duties of a listing agent....I was always a listing agent and the team members continue to be listing agents.,,, we do not participate in dual agency.... everyone deserves to have proper representation.... 

it's just short of sinful for any real estate transaction to be consummated when disclosures are not openly and fully discussed and in writing....

I'll be reblogging this post....

Nov 04, 2019 03:27 AM #1
Rainmaker
1,469,154
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

What a fantastic and in-depth overview of the Florida agent types/responsibilities and options for buyers.

I think any Orlando buyers who read this will know why they should hire you!

Nov 04, 2019 06:02 AM #2
Rainer
296,291
Clay R. Seay
Florida Homes Realty & Mortgage - Saint Augustine, FL

As a Transaction Broker in Florida, in my view, there are some half truths and personal points of opinion that are complete hogwash in this article.

As a Transaction Broker, it is still required by law to deal honestly and fairly with each party. To disclosure all known facts that materially affect the value of residential real property and not readily observable to the Buyer.  A licensee will not work to represent one party to the detriment of the other party when acting as a transaction broker to both parties.

Your business model as an Exclusive Buyers Agency for clients is fine and works for you, but please do not paint all other Transaction Brokers in Florida as the enemy of the public.

Nov 04, 2019 06:44 AM #3
Rainmaker
215,353
L. Scott Ferguson
Ask4Ferguson - Your House-SOLD Name in Real Estate - West Palm Beach, FL
Sunny Florida Real Estate Professional

All great info Eve!  I will keep you on file for my referrals up to you from Palm Beach!

 

Blessings!

Nov 04, 2019 07:51 AM #4
Rainmaker
1,407,280
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

So...quite a bit to unpack here.

1. First off, the statistic quoted (99.9% of agents are transaction brokerage) is totally false.

2. Full disclosure is 100% required in Florida. The property disclosure form is not required, but this would actually be a mistake by a seller because by not telling everything you know about the home on the form, you pick up liability you might otherwise have disclosed. You would also open yourself up to litigation for a reasonable time after the sale.

3. I represent all buyers and all sellers as a single agent (we do NOT HAVE BUYER AGENCY in FLORIDA). The only time I would vary from this would be by written permission of both parties in the transaction. 

4. I truly do not like scare tactics in real estate. Tell me why you are better...not why other agents are bad. Most agents truly need to step up their game and do a better job representing the needs of the people they work for (buyer or seller). Worry less about the dollars and more about helping folks get the best deal on the best property for them. The money will come if you treat people right.

 

Nov 04, 2019 08:33 AM #5
Ambassador
837,177
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

It amazes me how different the laws are across the country. I do not have the personality to be a TB. 

Nov 04, 2019 09:02 AM #6
Rainmaker
3,426,555
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Eve - it's interesting to see how real estate is practiced in different states.  Even within a state or in a brokerage you can see distinct differences.  Asking questions on representation is important and understanding the consequences more so.  

Nov 04, 2019 09:08 AM #7
Rainmaker
547,292
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Karen Climer:  Caveat emptor has NOTHING to do with Johnson VS Davis which is disclosure of material facts. 

caveat emptor
[ˌkavēˌät ˈem(p)ˌtôr]
 
NOUN
  1. the principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made.
    "caveat emptor still applies when you are buying your house"
     
    Eve
Nov 04, 2019 09:27 AM #8
Rainmaker
547,292
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Karen Climber:  ARE YOU STALKING ME AGAIN?  Re-read what I really wrote... 

 

You have made up/inserted words like "dishonest", "cheats" and "deceive"  which I never mentioned and never used...SHAME ON YOU!

 

Go back to your books and read the legal definitions so that you do not need to make up stuff...

 

Eve

Nov 04, 2019 10:16 AM #11
Ambassador
607,484
Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
Content Marketer, SEO Teacher, Website Fixer

Excellent post and congrats on the feature! Well-deserved.

Nov 04, 2019 01:01 PM #13
Rainmaker
71,500
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 570-507-7510

Eve Alexander Very informative post, congrats on feature.  The issues do get confused even by professionals. Our state has buyer agency, dual agency, designated agent and transaction agent disclosed on our state agency form. The form specifically describes  buyer agency as  "representation."  Despite that, an attorney teaching Real Estate Law stated that PA buyer agents do not rerepresent buyers. He had not read the contract!  I gave him a copy. Another attorney told my client with whom I had a Buyer Agency Agreement that I did not represent my buyer.  Had to likewise correct that attorney. Messy indeed.

Nov 05, 2019 06:25 AM #25
Rainmaker
2,826,511
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

WOW !!! 

Bravo Eve Alexander 

I said to a client the other day ... representing the buyer when I am the listing agent serves only one person ... the listing agent and their bank account. 

 

Nov 05, 2019 08:08 AM #26
Ambassador
3,444,531
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

WOW! Well done, in-depth overview of Florida agency (and transactional brokerage) and options for buyers in your market. Buyers who read this will know what they need to understand about representation in your area. Impressive, Eve!

NC does not have TB but, SC does. I don't like TB and in NC will always refer those customers interested in dual too. It's not something I'm comfortable with at all.  

I was always a loyal, faithful girlfriend...and now wife! I compare it to that - I never could date two guys at one time and I won't represent two clients in the same transaction.

Nov 05, 2019 04:04 PM #29
Rainmaker
2,485,078
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

With sinkholes and storms the buyer needs to be aware in Florida...very aware

Nov 06, 2019 10:48 AM #30
Rainmaker
813,919
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.

I believe you could apply this sound reasoning to each state in the country.  Buyers need to know that representatives are in their best interest. 

Nov 07, 2019 09:29 AM #31
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