[Bonanza]

Originally Posted by retiredguy123

I have never heard of a real estate agent being paid by a buyer in The Villages. Do you know a broker who has a standard written contract agreement where the buyer pays money to the broker? Every listing contract and settlement closing statement I have seen shows that the seller pays the entire commission to the broker. You are correct that licensed real estate agents must treat both the buyer and seller honestly, because they have a fiduciary relationship with them by Florida law. But, that is different from representing them as an agent in the selling process. For example, suppose a potential buyer tells an agent that they want to make an offer of $300K on a house, but they are willing to pay up to $350K if the offer is rejected. The agent would not be doing their job if they didn't convey that information to the seller, who they represent. Any real estate agent showing houses should make it clear to the buyer upfront that they represent the seller. I don't think that is always done adequately by all agents.

You are correct in that you won't find a buyer who will pay a Villages agent. Truthfully, I don't know which type of agent Villagers' agents are. Logic tells me that they are supposed to be transaction brokers, but ??? Generally, the buyer's agent's commission will come from the seller's funds as part of the commission split between the listing and selling offices. But there have been cases where the buyer will pay the agent for representing her/him. Personally, I have never known a buyer's agent and have not heard about one in many years.

You are right if you are a seller's agent you must make sure buyers are aware that that you represent the seller and anything they tell you can be passed on to the seller. That would not be the case with transaction brokers. I also agree with you regarding what an agent should mention regarding representation at the first point of contact, i.e. who they do or don't represent.