I hope this clears up the "Are TV Real Estate Agents Licensed" confusion...

[JMintzer]

From TV Website:

"In addition to being licensed Florida real estate agents, our team of over 280 agents receives frequent, professional education beyond the state's continuing education requirements on customer care, product knowledge, and the latest information pertaining to the lifestyle we all enjoy."

I will now sit back and await the "but they're not realtors" replies...

[Carla B]

Okay, here goes:

People use the terms Realtor and real estate agent interchangeably, but they aren't the same thing. Both must be licensed to sell real estate, but there are some important distinctions. Not every real estate agent is a Realtor.
What's the Difference Between a Realtor and an Agent?

Real Estate Agents:
Must pass agent licensing requirements in their state
Aren't subject to additional requirements
Are not NAR members

Realtors:
Must pass agent licensing requirements in their state
Must additionally pass the NAR Code of Ethics course
Are members of the National Association of Realtors members

A real estate agent has obtained a state license to assist consumers in buying or selling properties. Realtors are agents who have gone one step further—they've also become members of the National Association of Realtors (NAR).

A realtor can be a real estate agent, a broker-associate, a managing broker, or an exclusive buyer's agent, and this is just the beginning of the list. What sets them apart is that they must subscribe to the Realtor Code of Ethics for membership, and this includes 17 separate articles that contain various underlying Standards of Practice.

The NAR is the largest trade association in the U.S., and "Realtor" is actually a trademarked term.
_____________________________________________
Source: thebalancemoney.com May 17, 2022

[retiredguy123]

Okay, here goes:

People use the terms Realtor and real estate agent interchangeably, but they aren't the same thing. Both must be licensed to sell real estate, but there are some important distinctions. Not every real estate agent is a Realtor.
What's the Difference Between a Realtor and an Agent?

Real Estate Agents:
Must pass agent licensing requirements in their state
Aren't subject to additional requirements
Are not NAR members

Realtors:
Must pass agent licensing requirements in their state
Must additionally pass the NAR Code of Ethics course
Are members of the National Association of Realtors members

A real estate agent has obtained a state license to assist consumers in buying or selling properties. Realtors are agents who have gone one step further—they've also become members of the National Association of Realtors (NAR).

A realtor can be a real estate agent, a broker-associate, a managing broker, or an exclusive buyer's agent, and this is just the beginning of the list. What sets them apart is that they must subscribe to the Realtor Code of Ethics for membership, and this includes 17 separate articles that contain various underlying Standards of Practice.

The NAR is the largest trade association in the U.S., and "Realtor" is actually a trademarked term.
_____________________________________________
Source: thebalancemoney.com May 17, 2022
I would add that, in order for an agent to be a Realtor, the broker they work under must be a member of the NAR.

"Properties of The Villages" is not a member.

[Two Bills]

I would add that, in order for an agent to be a Realtor, the broker they work under must be a member of the NAR.

"Properties of The Villages" is not a member.

.......but a lot of the agents are members of the NRA!:icon_wink:

[chrissy2231]

From TV Website:

"In addition to being licensed Florida real estate agents, our team of over 280 agents receives frequent, professional education beyond the state's continuing education requirements on customer care, product knowledge, and the latest information pertaining to the lifestyle we all enjoy."

I will now sit back and await the "but they're not realtors" replies...
NO. They cannot show MLS, only TV listings.

[retiredguy123]

NO. They cannot show MLS, only TV listings.
Huh? I don't understand how this relates to the original post.

[JMintzer]

NO. They cannot show MLS, only TV listings.

That is due to their employment agreement with TV, NOT due to State Law...

[JMintzer]

Huh? I don't understand how this relates to the original post.

She seems to think because they don't show MLS listings, they are NOT "real estate agents"...

But she is wrong.

[JMintzer]

Okay, here goes:

People use the terms Realtor and real estate agent interchangeably, but they aren't the same thing. Both must be licensed to sell real estate, but there are some important distinctions. Not every real estate agent is a Realtor.
What's the Difference Between a Realtor and an Agent?

Real Estate Agents:
Must pass agent licensing requirements in their state
Aren't subject to additional requirements
Are not NAR members

Realtors:
Must pass agent licensing requirements in their state
Must additionally pass the NAR Code of Ethics course
Are members of the National Association of Realtors members

A real estate agent has obtained a state license to assist consumers in buying or selling properties. Realtors are agents who have gone one step further—they've also become members of the National Association of Realtors (NAR).

A realtor can be a real estate agent, a broker-associate, a managing broker, or an exclusive buyer's agent, and this is just the beginning of the list. What sets them apart is that they must subscribe to the Realtor Code of Ethics for membership, and this includes 17 separate articles that contain various underlying Standards of Practice.

The NAR is the largest trade association in the U.S., and "Realtor" is actually a trademarked term.
_____________________________________________
Source: thebalancemoney.com May 17, 2022

And if they fail to live up to those "super special" guidelines, they still have their real estate license, but can be kicked out of the "Realtors Association", which they have to pay for in order to be a member...

Just like a doctor can have a state license to practice without being a member of the state or local medical association...

[dtennent]

It is important to remember that any group of people have a spectrum of talent, work ethic, and integrity. Over the years, I have seen realtors and real estate agents who span the spectrum of these values. Having someone who is at the top end of those values is most important. What is not obvious to most people coming into The Villages for the first time is that there are two mutually exclusive pools of homes to consider. Therefore, an agent for each pool (MLS and TV) allows you to see the entire picture.

[frose]

doesn't matter. they sell "lifestyles" not houses.. i think that's how they are trained..

[JMintzer]

doesn't matter. they sell "lifestyles" not houses.. i think that's how they are trained..

Irrelevant to the discussion...

[Pairadocs]

It is important to remember that any group of people have a spectrum of talent, work ethic, and integrity. Over the years, I have seen realtors and real estate agents who span the spectrum of these values. Having someone who is at the top end of those values is most important. What is not obvious to most people coming into The Villages for the first time is that there are two mutually exclusive pools of homes to consider. Therefore, an agent for each pool (MLS and TV) allows you to see the entire picture.

Now THAT is clear, excellent advice ! Hope those who are confused will let it "sink in" just how important it really is to have an agent from each "pool" (as you call it). After all, you have to admit it is a very strange and different circumstance than most people have ever encountered. When people are looking for a retirement community, they are used to making contact with ONE person they trust who will show them MANY retirement communities in the area. We did that with an agent in Arizona, didn't have to have a "special" agent to show us this or that particular community !

[frose]

you would know

[JoMar]

Now THAT is clear, excellent advice ! Hope those who are confused will let it "sink in" just how important it really is to have an agent from each "pool" (as you call it). After all, you have to admit it is a very strange and different circumstance than most people have ever encountered. When people are looking for a retirement community, they are used to making contact with ONE person they trust who will show them MANY retirement communities in the area. We did that with an agent in Arizona, didn't have to have a "special" agent to show us this or that particular community !

You're not in Arizona anymore Toto :)

[JMintzer]

you would know

The Villages ain't "The Hotel California"...

Once you've checked out, feel free to leave...

[Laker14]

The important thing to me is not that the Villages agents are licensed, but to realize that they will never represent the buyer as a fiduciary agent. They will ALWAYS represent the seller.
So, if you are buying from VLS, unless you bring your own fiduciary (someone responsible for looking out for YOUR best interests and NOT the BUYER's), at your expense, you have nobody but yourself to rely on for that purpose. Since VLS absolutely will NOT share the commission with a buyer's agent, the buyer will be responsible for paying whatever fee their fiduciary charges for their service.

[retiredguy123]

The important thing to me is not that the Villages agents are licensed, but to realize that they will never represent the buyer as a fiduciary agent. They will ALWAYS represent the seller.
So, if you are buying from VLS, unless you bring your own fiduciary (someone responsible for looking out for YOUR best interests and NOT the BUYER's), at your expense, you have nobody but yourself to rely on for that purpose. Since VLS absolutely will NOT share the commission with a buyer's agent, the buyer will be responsible for paying whatever fee their fiduciary charges for their service.
I'm not sure what you mean by a buyer's agent, but the typical listing contract requires the seller to pay the entire commission at the closing. The buyer pays nothing, and, as such, usually does not have an agent in the legal sense. Even MLS agents receive their share of the commission from the seller, and so they are legally working for the seller. But, all licensed real estate agents have a fiduciary obligation to both the buyer and the seller according to Florida law. Having a fiduciary obligation is very different from representing someone as their "agent". A buyer can hire an agent and pay them a separate fee to represent them, but that fee would be above and beyond the fee prescribed in the listing contract. Most buyers are not willing to pay a separate fee to have an legal agent.

[Laker14]

I'm not sure what you mean by a buyer's agent, but the typical listing contract requires the seller to pay the entire commission at the closing. The buyer pays nothing, and, as such, usually does not have an agent in the legal sense. Even MLS agents receive their share of the commission from the seller, and so they are legally working for the seller. But, all licensed real estate agents have a fiduciary obligation to both the buyer and the seller according to Florida law. Having a fiduciary obligation is very different from representing someone as their "agent". A buyer can hire an agent and pay them a separate fee to represent them, but that fee would be above and beyond the fee prescribed in the listing contract. Most buyers are not willing to pay a separate fee to have an legal agent.

From Florida Statute:
"A real estate licensee may not operate as a disclosed or nondisclosed dual agent. As used in this section, the term “dual agent” means a broker who represents as a fiduciary both the prospective buyer and the prospective seller in a real estate transaction"

If you are buying in the MLS system, and you have your own agent, your own agent gets a share of the commission paid by the seller.
In a VLS transaction, the buyer's agent gets no share of the commission paid by the seller. If I understand the language of the statute I quoted above, the VLS agent cannot, by law, be a fiduciary for both parties.
Perhaps I am misunderstanding the language.

[retiredguy123]

From Florida Statute:
"A real estate licensee may not operate as a disclosed or nondisclosed dual agent. As used in this section, the term “dual agent” means a broker who represents as a fiduciary both the prospective buyer and the prospective seller in a real estate transaction"

If you are buying in the MLS system, and you have your own agent, your own agent gets a share of the commission paid by the seller.
In a VLS transaction, the buyer's agent gets no share of the commission paid by the seller. If I understand the language of the statute I quoted above, the VLS agent cannot, by law, be a fiduciary for both parties.
Perhaps I am misunderstanding the language.
Being a fiduciary and being an agent are two different things. An agent is paid to represent a client in selling a house. It is a legal agreement between the seller and the broker that is clearly defined in the listing contract. The buyer is not a party to the listing contract. The seller expects the broker to act in his/her best interest and find a willing buyer for the best possible price without violating the legal ethical standards. For example, if a buyer tells the broker that they want to offer $300K for a house, but that they are willing to pay $350K, the broker would be obligated to convey that information to the seller, as long as the buyer has not been deceived about the broker/seller relationship. But, being a fidicuary means that the broker must treat all parties in a fair and honest manner. So, if the buyer asks the broker how long the house has been on the market, the broker cannot lie and must provide an honest and accurate answer. The only recourse the buyer would have against a broker would be if the broker violates an ethical or fiduciary obligation established by Florida law. But, the seller can sue the broker for breach of contract if the broker fails to represent the seller adequately when negotiating the sales price or other terms of the sale. The difference is that the seller has a legal and binding contract with the broker, but the buyer has no contract. This is because the seller has agreed to pay a cash commission to the broker to be their agent, but the buyer has not agreed to pay anything. So, there is no contractual relationship between the buyer and the broker, and the broker or any licensed agent they interact with is not their agent. The only thing that a buyer is entitled to expect is that all licensed agents they deal with will follow the Florida laws of ethics.

[Bogie Shooter]

you would know

Who is you?

[JMintzer]

Who is you?

"I am he as you are he as you are me
And we are all together"


- Goo goo g'joob

[Laker14]

Being a fiduciary and being an agent are two different things. An agent is paid to represent a client in selling a house. It is a legal agreement between the seller and the broker that is clearly defined in the listing contract. The buyer is not a party to the listing contract. The seller expects the broker to act in his/her best interest and find a willing buyer for the best possible price without violating the legal ethical standards. For example, if a buyer tells the broker that they want to offer $300K for a house, but that they are willing to pay $350K, the broker would be obligated to convey that information to the seller, as long as the buyer has not been deceived about the broker/seller relationship. But, being a fidicuary means that the broker must treat all parties in a fair and honest manner. So, if the buyer asks the broker how long the house has been on the market, the broker cannot lie and must provide an honest and accurate answer. The only recourse the buyer would have against a broker would be if the broker violates an ethical or fiduciary obligation established by Florida law. But, the seller can sue the broker for breach of contract if the broker fails to represent the seller adequately when negotiating the sales price or other terms of the sale. The difference is that the seller has a legal and binding contract with the broker, but the buyer has no contract. This is because the seller has agreed to pay a cash commission to the broker to be their agent, but the buyer has not agreed to pay anything. So, there is no contractual relationship between the buyer and the broker, and the broker or any licensed agent they interact with is not their agent. The only thing that a buyer is entitled to expect is that all licensed agents they deal with will follow the Florida laws of ethics.

excellent explanation.
Thank you.

if you were buying (and perhaps you have done this) a house in TV, listed by The Villages (VLS) listing service, would you be totally comfortable as a buyer, just dealing with VLS agent(s), and feel your interests were well looked after, or would you have someone with professional knowledge, either a non VLS real estate professional, or your own lawyer (all paid for by you) reviewing the process and legal documents?

And if you are a real estate professional yourself, would your recommend someone who is not a real estate professional to trust the process without a RE professional of their own reviewing everything?

[retiredguy123]

excellent explanation.
Thank you.

if you were buying (and perhaps you have done this) a house in TV, listed by The Villages (VLS) listing service, would you be totally comfortable as a buyer, just dealing with VLS agent(s), and feel your interests were well looked after, or would you have someone with professional knowledge, either a non VLS real estate professional, or your own lawyer (all paid for by you) reviewing the process and legal documents?

And if you are a real estate professional yourself, would your recommend someone who is not a real estate professional to trust the process without a RE professional of their own reviewing everything?
I purchased a new house from The Villages. But, if I were looking to buy either a new or resale house, I would select an experienced VLS agent who I could trust, and I would ask them to recommend an MLS agent who could show me MLS houses. Experienced agents should realize and accept that buyers need two agents to have access to all available houses on the market. I would not feel the need to pay anyone for advice, and would not feel obligated to buy a house from either of the two agents.