My Dirty Story: How I got cheated in a Florida Real Estate Transaction

By
Real Estate Broker/Owner with Buyers Broker of Florida

Being ripped off is not fun. It’s not only about the money I lost…it was humiliating, insulting and left me feeling really stupid.

 Florida Real Estate Transaction- Discover the nuances of buying Florida real estate.
Also, this was not my first Florida home purchase, so I really felt double dumb…

 

I mistakenly thought I was smart enough to handle it. In hindsight, I was real estate “gullible”.

 

I believed that most people tell the truth…for sure that is not true…at least not when buying Florida Real Estate.

 

Here is my story and the reason for this “tell-all” webinar:

 

It was 1991 when my husband and I decided to buy our first investor property.

 

My dad owned some rentals, so that seemed like a good way for us to make extra money.

 

We found a small condo for $40,000 with a nice location and called the listing agent…he was nice, and likable.

 

In those days “Buyer Representation” was unheard of, so we assumed that this friendly agent was working for us…at least he sure acted like our best friend.

 

We liked the property, so I asked the agent what we should $ offer $?

 

 Homes for Sale in Florida- Discover how buying a home in Florida can turn from a happy, stress-free transaction into a shocking one.

He told me we needed to offer full price. I was confused…I did not get that part.

 

So I asked again: “Seriously, what should we offer?”

 

He said “You have to pay full price”…OK, I still did not understand…but we went along.

 

Let’s face it…we really knew nothing about the nuances of buying Florida Real Estate. Most buyers today don’t either, and it does not matter how many homes they have bought previously.

 

Buying in Florida can be either a happy, stress-free, transaction or a shocking experience that may knock your socks off…

 

First Red Flag: The agent told me that the seller just received a special assessment for maintenance of the condo buildings of $6K but that the seller was going to be generous and pay half of it for us.

 

That meant we had to only pay an additional $3k. Agent told us that were were “lucky”…

 

YES!!! I thought the seller was generous and we in fact were “lucky”. Yipee…
Until…

 

Orlando Florida Real Estate- Find out why some people get easily ripped off when buying a home in Florida.

I noticed that the agents name had been added to the contract as one of the owners…

 

What??? The agent who acted like our best friend was really the owner of the property???

 

Even though the law required him to disclose that, he never mentioned it…not even a peep.

 

When I got the settlement statement, my charges were more than I expected…

 

I told myself that the title company had to be honest and accurate…not so, I was fooled again.

 

I learned that the “agent” aka “seller” had a controlled business arrangement (affiliate) with the title company and he told them that we agreed to pay some of the sellers closing costs.

 

Not true…

 

So I ended up paying a total of about $5k more that I should have…because I was naive and took the word of an unscrupulous “agent”.

 

Buyers Broker of Florida- Here’s how you can identify an unscrupulous real estate agent in Florida.

• The agent that pretended to be on our side but was really the seller…
• The agent that had us pay full price with no negotiations…
• The agent that lied to the title company and had us pay some of his costs…
• The agent that gave us no disclosures, and no help…
• The agent that cost us additional monies…
• The agent that blatantly cheated us…


After closing, I learned the hard way that we were ripped off simply because I did not know what to expect, what to look for, what questions to ask, or what I as a buyer was entitled to…

 

Never again was I going to be cheated in a Real Estate Transaction, so I vowed to get smarter!

 

I bartered for a Real Estate Agent License, a Broker’s License, a Mortgage Brokers License, an Appraisal Certification and I took every advanced class that was available.

 

I became a classroom “junkie”…

 

I read books, had debates with the Florida Real Estate Commission, and earned more advanced designations than anyone else I know.

 

I was on a mission to never be “stupid” again.

  Exclusive Buyer Agent Florida- Need an exclusive buyer agent to answer your home buying questions? Call me, Eve Alexander of Buyers Broker Florida, at 407-539-1053 today!
Why was the whole real estate industry mostly concerned with getting listings, “double-dipping” and making double the commission?

 

Whatever happened to telling the simple truth?

 

Why did no one represent homebuyers? Or even care?

 

I was not planning on getting into the Real Estate Business, but my passion took over…

 

In 1992, my hubby and I opened up the first Exclusive Buyer Brokerage office in south Florida…


Our mission was to level the playing field by representing only the best interest of the homebuyer and never the seller.

 

It was not easy, as the traditional broker “haters” tried to put us out of business…

 

We were spit on, cussed out, had our tires slashed, and refused access to show property or present offers…but we just got more determined to not let the bullies win.

 

For sure, there was a dire need for our service… besides, the law was on our side.

 

It has now been almost 30 years since we dared to buck the system and represent only home buyers with full fiduciary duties of total loyalty, confidentiality, full disclosure, skill and diligence.

 

Our office grew to be the largest Buyer Brokerage Office in Florida and 2nd largest in the country…we became nationally known as top home buyer advocates.

 

We have experienced it all and know exactly what the pitfalls are…stay tuned to get all the dirt.

 

We are boldly going to expose how all the games are played…including, but not limited to:

Florida Real Estate Transaction- Discover the nuances of buying Florida real estate.

• The biggest secret that realtors don’t want to talk about…
• Does “as is” mean you buy all the problems?
• The down and dirty on New Construction…
• Can you renegotiate the contract after home inspections?
• Think the realtor is on your side?
This webinar is for anyone looking to buy “smarter”…
My promise…
• That I am not selling anything.
• You will hear tidbits that you have never heard before.

 

Thank you for your interest…please let us know how you liked the webinar.

 

Eve Alexander,

 

Buyers Broker of Florida

Info@OrlandoBuyersBroker.com
407-539-1053

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

 Eve Alexander Orlando Buyers Agent

 

Comments (6)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

So sad to read this, I spend more time disclosing the sins of the property I almost sound like I am trying to talk them out of buying my listings.... BTW I recall there is an agent on this platform that did something bad to you as well...but who is counting...Endre

p.s.: I unfriended her and never commented on her post again when I found out...

Jun 11, 2020 12:07 AM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Eve.

Sad story, hopefully that agent is no longer one.  Good for you, on getting into this business.  We need more like you

Jun 11, 2020 01:46 AM
Realtyna Inc
Realtyna - Newark, DE
Realtyna- MLS RETS Integration software & services

Hi Eve Alexander, information is power, and it's how unscrupulous agents can be neutralized. Thank you for sharing your story and doing your part to inform buyers.

Jun 11, 2020 02:05 AM
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Thank you all for dropping by kind words and positive comments here! I appreciate it a lot!

Jun 11, 2020 02:37 AM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Eve Alexander it's MA law that requires full disclosure by the agent of his/her equity interest in the property.... whenever I sold an investment property, I disclosed that I was a licensed real estate Broker (associate) in MA... I disclosed when purchasing also.... ALWAYS FULL DISCLOSURE and there will never be an issue.... not a legitimate one!

Florida marches to its own drummer.... fast and loose....

Jun 11, 2020 03:34 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Wow - it's crazy to hear that you had tires slashed, were spit on and refused access/offer submission because you came up with a different business model. It sounds as though agents were afraid of your business and potential (now actual) success.

Jun 11, 2020 05:08 AM