Questions re: TV Sales Agents & MLS Realtors
 

Hi! We are hoping to buy a place in TV and would like some guidance. We already have a TV Sales Agent and she is super wonderful, however I do not think she is allowed to show us any homes that are listed by outside realtors and FSBO. Some of the MLS listings in TV look pretty nice. Is it recommended to secure an MLS Realtor in addition to our TV Agent so that we can look at both types of properties? On the one hand I would sort of feel bad if we ultimately bought one of the MLS listings because our TV agent has been great, but on the other hand I want to buy something we like and wouldn't want to just "settle" for a property just because it is a TV listing. We will be looking at properties next week and are hopeful that we will find something we like. We would appreciate any thoughts and advice anyone would have as we try to navigate our way to becoming new residents of TV!

you must use both

Realtors who can only show you anything listed on MLS , Realtor.com, Zillow and Trulia.

and Villages sales agents who can only show you you whats listed on TV's private listing service.

If you don't use both you will only see 1/2 of whats available.

Both want you to buy from them and both know they can only show you half.....don't feel bad.......

see everything....

Come see my house!!! A one year old Begonia in Village of Labelle (Sumpter County taxes). I am moving to a villa.
Landscaping, plantation shutters, very pretty! By owner....great price $289,000.
Realtors wanted to list at $315,000.
I have all paperwork needed....and Tiltle company ready to do closing. All the same as I'd paying the extra amount that goes to a realtor fee!
850-206-4624

You definitely have the right to see all properties available, and you need two agents to do that. I would also advise you that a lot of the newer homes are located in Lake County. The property taxes on a $500K house in Lake County will be about $4000 more per year than the same house in Sumter County. The sales agents may not tell you this, especially for a new house where the full tax rate has not been established. But, new houses tend to be a better bargain than preowned houses.

Definitely DO use both a Villages agent and a MLS agent.

They know this is a well used method of buying homes. You do not have to be sneaky about it. Let them know upfront you are working with both.

A resale, in my opinion, is how to go. First, you can negotiate the price. The bond may be paid down or even paid off. This alone can save you $30,000. You won't have extras like rain gutters or downspouts to buy. Landscaping will be mature. You will not have surprises pop up next to you like a neighbor's pool.

Established neighborhoods like Caroline, Mallory, or Hemingway are great places to live.

Would like to hear your reasoning!

I would let her know you also have an MLS agent. That's just me though. They know the MLS agents are out there. You are right this is about finding the house best suited for you and keeping all options open is the best way to do it.

If you are trying to negotiate a price for a pre-owned house, two good sources of information are the county real estate web site and Zillow.com. The county site will tell you when the house was built and how much all of the owners paid for it and what the nearby houses sold for. Zillow will tell you similar information, but will also tell you about prior listings of the house. For example, the agent may tell you that the house has only been on the market for 2 weeks, but Zillow may show that the house was listed several times within the past year and removed from the market because it didn't sell.

I have been looking for a house and many of the pre-owned houses are priced higher than comparable new houses. I always look to see how much appreciation the pre-owned homeowner expects to get when selling, and I often find that they are expecting too much. If the house is relatively new, it seems like the seller is trying price the sales commission into their asking price so that the buyer effectively pays it. The seller should expect to pay the commission. Also, the new homes come with an excellent warranty and you are certain that the price is going to be competitive. So, in my opinion, new houses offer a better deal, but not in all cases.

Most of the preowned houses have many add ons, enclosed lanai, designer window treatments(Hunter Douglas), good ceiling fans, wood floors

Yes you will find that many new homes are less expensive. A couple of things to think about are that many of the pre-owned homes have a more central location to everything. Another thing is to think about all of the upgrades the pre-owned homes have. Most things are done. With a new home you are starting from scratch. Then again it is a new home and it is nice to start fresh. We did buy new but back then the great locations were still available. We love our location, close to all three squares, doctors offices, pharmacies, shopping and Golf courses. Take the big Villages paper map and highlight where the home is and then highlight where all of the places you will be going by golf cart on a daily or weekly basis. That will help you determine where the best places to buy are.

I've seen a lot of pre-owned homes less than 3 years old that have no substantial upgrades, and they are priced at more than $100K above what the owner paid for the house, and more than comparable new houses. I looked at one house that was purchased new only 9 months prior and the owner was asking $90k more than the new sales price and they had done nothing to upgrade the house. I think you need to be especially careful about what you pay for a pre-owned house.

Here is an example for why a preowned home may cost more than a bare bones newer house. If you start with a designer home that cost 290,000 then add $4,000 for a stone or enhanced driveway, another 15,000 for landscaping, $13,000 for wood floors, $18,000 for enclosed glass lanai with a leveled tile floor, $4,000 for crown molding and wainscotting, $2,000 for central vacuuming, This reflects what some of us spend on our homes. Obviously you can't always expect to get back what you paid for improvements, but it may show why existing homes are listed higher.

Do your homework....

simple go on the internet....type in the address of the home....and many sites will tell you when the owners bought the home, what they paid for it and how many times it has been sold and listed, and when. you can also see improvements they made that were approved by the city.

Also, check out what they pay in taxes....easily can be done on the county site, just put in the address, thats all you need and you will find, how much they pay for tax, bond payment, neighborhood yearly fee. Bond and neighborhood fees will be the same for you, the other fees from the county and city will probably change.

you can also check so see what your estimated tax will be....it will not be the same as the present owner.....they may have discounts, homestead, 65+, ect. the county site will give you an estimate and then you just add the bond payments and the neighborhood fees.

Be SMART, don't always rely on your agent....they want you to buy, so they make a commission, it is unlawful for them not to answer your questions, and demand they find answers if they do not know the answers... BUT, if you don't ask.....they don't have to offer any information more than they want you to know.....

Its work, and its fun and frustrating.....but if you take your time and do your research, you will be happy when it's over and you paid the correct price and are aware of all the fees involved.

people buy and resell to make a buck. problem is buyers buy there overpriced homes because they are either desperate or just don't know any better...or simple don't care.. Buyer Beware...RESEARCH is the key

Use both
 

:agree:

Barbara and I used both, and let each know about the other. They are not surprised by this, and it's the only way that you get to see a wide option of houses. This purchase is about you, not the sales agent.

And.......... drive around in areas that you find interesting, looking for For Sale By Owner signs. After working with MLS and TV salespeople, we came upon a By Owner house which was an excellent buy at a good location.

Happy hunting.

Would you know what the "senior" additional exemption of $15 k is? I'd like to know what the criteria is to qualify for it. I assume it's some income limit but can't find info on it. I've seen is on Sumter County properties but it may be available in the other counties as well. Properties I've seen it on are not lower end ones.

Also, study the traffic around the home. For instance, when the only option to leave your neighborhood is to be dumped out on Morse Blvd. North of 466 can be difficult if you need to turn left.

When looking at resales, ask for an upgrades list. It's not only that the upgrades are included but with every upgrade the hassle of having contractors in with all their 'contractor issues' completed. We have spent two years upgrading and with the exception of one, each came with hassles.
We bought new but it would have been a lot more pleasant to have found a resale with these things done already. Look for top quality upgrades that you would possibly do anyway. E.g. Solar lights, enclosed lanai, upgraded flooring. Cornices, crown moulding, other finishing touches, granite, under counter lighting, insulation added, screened entry, insulated garage doors, attic stairs and fans, upgraded landscaping and patios, upgrading lighting and fans, rocker switches, Murphy beds, roll out shelving, extra light switches, hose bibs, upgraded appliances, window coverings, tinted windows, garage shelving, and so on. We have spent over $80k and that is not unheard of in our area. If you find a resale with upgrades you love, especially if only a few years new, it is often your Best Buy.

If you want a quick idea of what homes are currently listed with MLS and some of the FSBO, go to Zillow. Type in 'The Villages' and then every home will appear. At the top the buttons will allow you to filter out the price range, bedrooms and bathroom, type of home, garage, etc. You can also see what has recently sold and the price and foreclosures. If you see enough stuff that interests you, contact a Realtor. Here's a link, I've already typed in The Villages. Now you could narrow it down to a zip code, such as 32159, 32162 or 32163 by deleting the name and putting in the zip code. You can bring in the actual earth with the buttons on the right so you can see golf courses, lakes, trees, etc. You can also zoom in and out with the buttons on the right.

The Villages Real Estate - The Villages FL Homes For Sale | Zillow

And many of us do not like the add-ons we see in resale homes, especially the enclosed lanais. We bought a new home so we could get exactly the options we want.

Honestly I sold in Broward so I am not for sure, but.....if you don't read the explanation on the county site, give the county appraiser office a call. I am sure they will be more than happy to assist you. They would for sure have the answers.

IMO (From pass experience) would make sure permits was pulled on the upgrades and if they are close to the property boundary lines. IMO Realtors are working for the seller and IMO they will tell you about anything for sale and not necessarily what has been not IAW codes. also, I would check date on water heater and fire detectors, If there over 10 years old, demand they be replaced cause you will be replacing them in short time. Some home owner may not be aware of the permit problems cause the house has been sold several times with upgrades they're not aware of that wasn't done right. This what sellers pay realtor or title company for and you pay and inspector for. IMO don't go with the recommended realtor inspector.

With this one bitch complain system you can be in world of s*&%. good example was the lady that brought place and the driveway done by previous owner or owners wasn't done to correctly. IMO the realtor, title company, inspector, and the contractor in can be traced back should be held accountable. Not the lady that brought 20 plus year old house less than 8 months cause somebody complained. IMO there should be more than one complaint like 10 before they are acted on. this would illuminate the troublemaker.

We just went through the process. The MLS agent gets a percent of the sale, the TV agent is on salary. I think they have a quota, and likely will get bonuses. In the latter, your sale price is not as dominant.

In considering new vs preowned, you need to consider that Florida is hard on building materials and such. Figure the life on items like roofs, HVAC's etc to be 50 to 70 percent of what your used to.
That is particularly important when DIY is less of an option.

We ended up building. The lot choice was ours, the builder would and will do virtually all of the add one before closing at a competitive price. These are all in at closing, where doing it after, you have to have ownership paper work to start and then find and get on their(the new company) list.

The time was important to us.

I live in the Villages, Owned national RE franchise, in RE for 20 years, private me and hear the ugly details.

I heard that the Villages sales agents get no salary. they make 1.5% commission on there sales. The villages greaters get a salary but the sales agents work on commission. So, who can be sure? But this info came from a sales agent of the villages.

As I understand it Villages sales agents, as do most real estate agents, work on commission. I have heard Villages agents get higher percentage commissions selling new homes than they get selling resales. The Villages agent I used showed me only new homes even though I requested he show me resales as well. I was unable to persuade him to show me even one resale.

IMHO, if you're selling an existing house avoid TV realtors, this way you're avoiding a potential conflict between their obligation to push new properties & your's--In my observations , resales are their secondary income source

Use both. If you have seen the home just tell the other sales person that another sales person has shown you the home. No reason not to tell both what you are doing.

The Villages sales agents are the only ones who can sell new properties. They also list and sell appx. 60-70 percent of all pre-owned homes. (They give the stats every year.) Pre-owned home sales now exceed new sales.

You will need to use both a Villages sales agent and a MLS realtor to see near 100% of the homes available for sale. You can also do your own leg work on FSBO and MLS sales on-line.

There are Villages sales agents that specialize in pre-owned homes. They are the ones that are advertising the pre-owned homes open houses. They know the neighborhoods, the history, and have a very good sense of the values by model and upgrades, as well as lot potential.

We used a Villages sales agent to show us both new and pre-owned. When we bought in 2012, we couldn't custom build, like the option you may have today, saw a lot of pre-owned that would need a lot of updating, so we ended up buying new and adding and enhancing from there.

Good luck with your search. The journey to The Villages is so worth it!

If you want to get someone who is personally a good person and is a villager real estate sales person and lives in the villages also, private me, and I will have my mate send you the info.

New vs Preowned
 

Just some corrections on the above post!

All sales representatives working for the developer are independent contractors license in the state of Florida with a Florida sales person or Florida brokers license. As far as your commission comments the truth is the sales rep gets 1.50% commission when they sell a preowned home based on sales price. They get 1.75% commission based on sales price and normally a bonus to sell a new home. It's 1000 times easier to sell a new home then it is a preowned because it seems nobody thinks a Home Inspection is necessary on a new home, there are no negotiations on price and the developer sets the closing date with no contingencies allowed! The one thing that most people do not realize is all sales representatives and the developer always represents the seller in a single agency position. Which means a buyer has no representation and is on his own to figure out what reality might be sitting near the house. Have you ever wondered why people sell right after a year of being in a home? You may want to ask! By the way on the new home you do have a one year resell restriction to be able to make any profit on the home sale!

As far as a Realtor they also are licensed in the state of Florida and are independent contractors and also get paid a commission based on the sales price. Their commission split is determined by the broker that they work for and their experience level! 99% of them work as a transaction broker which means they have responsibilities both to the seller and the buyer. All material facts have to be disclosed by the seller to the buyer! Just ask and they will be glad to show you a form that shows what the responsibility is to you the buyer or seller! All realtors also can work as an exclusive buyers agency which means they can represent the buyer as a single agent. Just ask and they will show you how!

The comment about a preowned being more expensive can be true! But it is generally based on physical location, what is behind the house meaning privacy or another house, what upgrades have been installed in the home and the square footage! The most expensive homes are located within 5 to 10 minutes of Lake Sumter Landing since in a preowned home situation that is the most demanded area! Most new homebuyers find that they spend at minimum $50,000 to add all the upgrades that they want either at the time of build or after build. There are a lot of upgrades that the developer will not install and you will have to do after-the-fact like laminate flooring. A lot of folks figure out being near Lake Sumter Landing is a good thing based on where the majority of the major shopping/restaurants are currently located!

But you definitely need to work with both because at any given time it's about a 50-50 split on the preowned homes available between the two groups!

We just purchased a new home in Fenney. The prices are quite a bit lower than comparable re-sales. We took into consideration the added items on the used homes we looked at and they didn't come close to the cost savings on a similar new home. We also got a new home warranty and can decorate and landscape the way we want. We already had gutters and down spouts put on and the cost on our model, a designer Ivy, was under $700.00. At first we were a little leery of Fenney based on what had been posted here but it really is nice down there. The only deficit we could see was the temporary inability to get a golf cart to the villages north of 468 but that will soon change. It's less than 10 minutes to Brownwood square and 15 minutes to Lake Sumter, plenty of nearby shopping on 44 as well as 301, less than 15 minutes to the Leesburg hospital as well as Leesburg shopping. Take a look down here, quite a few homes to choose from that are priced right.

Keep in mind, the TV sales people answer to the developer, and do not abide to the "Realtor" code of ethics. Also the TV salespeople will not provide you with the deed restrictions on your specific property (is online) which can cause big problems down the road.

I don't see anyone posts that answer your question, so here is what I know. You would need to file form DR-501SC. I believe it has to be filed by March 1st and you would need to include a copy of your federal income tax return. This year the income limit is $28,841, it changes yearly by usually going higher. However the deadline has passed for this year. You can receive a discount up to $50,000 off your home's value. In Sumter County take the completed 501sc and a copy of your tax return to the 'Gold Dome' building, inside go to the right, and it's the last office on the left before the driver's license waiting area. It's a small office shared by the VA.

Here is the form:

http://floridarevenue.com/dor/proper...nt/dr501sc.pdf

Here is the income chart, it's the last group, fourth down:

FL Dept Rev - Florida Property Tax Valuation and Income Limitation Rates

the legal requirements:

An exemption not exceeding $50,000 to any person who has the legal or equitable title to real estate, maintains permanent residence on the property, is 65 or older, and whose household income does not exceed the household income limitation; 2017 - $28,841