What is
Agency...
Who Do We Represent?
We've been asked many times what our policy
is, and to clarify whom we
represent when we have a reply to our offer
of service. Here is our
policy:
For buyers transferring, relocating and
asking us for information on homes,
we represent the Buyers interest and the
transaction. How do we do this, and what is covered in this
representation, you ask? These are our
guidelines called our
Standards of Buyer Transaction Representation:
Confidentiality
Deal Honestly and Fairly
Account for All Funds
Use Skill Care & Diligence
Loyalty to Our Client
Obedience to Lawful Instructions
Accountability for Our Actions
Disclosure of All Known Facts that Affect a Property Value
Benefits to you, the Buyer:
1.Total commitment to the Buyer
2.Maximum effort on their behalf
3.Exposure to the entire market
4.Confidentiality
5.Disclosure and loyalty
6.Track record of successful negotiations
7.Privacy for the Buyer
8.Strongest possible protection of the
Buyer's interests.
9.Mortgage financing
10.Buyers will save money since we will be fighting to
protect their interest.
Benefit to us as your Buyer's Transaction Agent:
1.Buyer loyalty
2.More qualified Buyer
3.More educated Buyer (to the marketplace)
4.Peace of mind, less conflict of interest
5.Ability to offer more services
Will the Buyer need to sign an agreement?
It will not be mandatory for the Buyer to sign an
agreement with us at initial
non personal contact, although we would be happy to do
so. We extend much
effort, time, expertise, loyalty and education to be
informed on behalf
of our buyers. However, we would hope that with such
good service and
representation, a buyer will be loyal to us!
Florida Law does require that buyers sign an
acknowledgement of the buyer's transaction agency
relationship at first substantive contact (in person,
for example).
At the time an offer is written, then it is
necessary to sign an Agency Agreement
stating who we represent. Agency Representation is also
in the wording of the
purchase contract.
What about new homes and new subdivisions?
Yes, we represent your interests as well. We include
new homes and new
subdivisions in our showings of homes throughout South
Florida. Unlike some
areas of the country where builders do not cooperate
with realtors, builders here seek
our assistance (with a few exceptions) since we sell
most of their homes. Many
times extra incentives are offered to realtors to bring
buyers to the builders.
The site salesperson represents the builder, so a
Buyer should have
a realtor to protect their interests.
The policy in South Florida is to have the realtor
present when viewing the new
homes. It is tempting when first arriving to cruise the
new home
subdivisions. In order to have
Buyer Representation, nothing must be
registered or signed without your
realtor. If you are just looking, say so, and
you may not be asked to register yourself. If asked,
state that you are
working with a realtor and will return with that
realtor if interested in that
subdivision.
In the case of new homes, understand that the
builder advertisements many times
state a price, i.e. $150s. There are many options, such
as waterfront, a pool,
upgrades that are in the models, and a lot location or
size premium.
The final home price can be much greater than the
advertised base price.
We have booklets as well as information on our
website of all the new subdivisions
in South Florida that list the areas, builders,
subdivisions, price, square footage,
bedrooms, garages, lot size and location that we give
to our Buyers.
This will help you in determining what exactly that
subdivision is about.
Please ask us for it when you arrive or search the new
homes section of our website
so that you may be informed.
Caveat Emptor (Buyer Beware) is not enough to
protect you as a buyer.
Each state has its differences. An escrow on the East
Coast means something
different on the West Coast. There are inspections,
disclosures, deadline dates,
title work, loan procedures, and recommended use of
professionals. Representation
for you the Buyer is very important today!
We will do our very best to find the perfect home
for you and also protect your
interests. Remember, the seller pays our
commission only at closing, and we
owe it to you to treat you fairly and honestly in every
way. It is our promise to do so.
Frank Lipscomb, Realtor United Realty Group 954-816-6288, e-mail: Frank@SFLRealestate.com