Quote:
Originally Posted by frayedends
It seems you are referring to an agent that has the listing, the buyer comes in without an agent and the Listing agent does the deal alone. In that case, the listing agent is possibly taking both sides of the commission (unless they pass along the savings). But they have an ethical duty to tell the buyer that they are representing the seller.
That's not how buyer's agent works. Now, I will admit I'm in Massachusetts and don't know what could be different in Florida. But a buyer contacts an agent and wants to see a home. If that agent is not the listing agent then he/she becomes the buyer's agent. They may or may not sign a buyer's agent contract. That agent should be advising the buyer on home value, helping with financing needs and legal needs, etc. They should be bringing the buyer to similar homes, working with inspection. They need to know the rules for FHA loans (you wouldn't believe how many realtors miss that info).
The agent I know works tirelessly, on the phone at all hours, out at appointments all day and night, 7 days/week, working with their buyers (or sellers if they have the listing). She works way more hours than my 9-5 job that's for sure.
It really aggravates me when people say they get paid for nothing. They have no idea how much work is involved.
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Note that the term "agent" is a legal term that means someone is representing a client in a legal transaction for a fee. The only way a buyer can have an agent is if they sign a legally binding contract in which the buyer agrees to pay money to the agent. If the buyer just shows up and the real estate agent shows them houses, there is no client/agent relationship established. For most real estate sales in Florida, the buyer does not have an agent representing them. However, real estate agents typically do not adequately convey to the buyer that they are representing the seller, and not the buyer. That is why buyers will often assume that they have an "agent" when they don't.