villages sales agent for the buyer
 

I know that while working with my regular multiple listing realtor, they will negotiate for me if I am interested in a house. But how does this work with a Villages sales agent? That is, do they only represent the sellers? How does a potential buyer negotiate if they all work for the sellers? Thank you

They don’t work with buyers agents and don’t offer commission to buyers agents. For new construction they don’t negotiate at all. The price is the price and they don’t allow contingencies. They have it down to a science to protect their interests. That being said I have seen the timelines stretched a bit even though they act as if it’s so set in stone they won’t budge.

If it’s a resale through VLS then you could try for a better price. They should present all offers to the seller and the seller decides what to accept.

If you're looking at a home listed by The Villages, then the only way you can have an agent working for you is if you pay that agent yourself, out of your pocket. The Villages Real Estate people do not share commissions. Period.

MLS agents and Villages agents typically work for the seller, not the buyer. I would never expect any agent to negotiate for me as a buyer unless I was paying the agent.

If the MLS agent is showing you homes not listed by them, or by their agency, you can sign a contract that identifies them as your fiduciary agent. In that role they have obligations to you, the buyer, they would not have if they were the listing agent or closely associated with the listing agent. It's very clear in the contract.
They are paid by a cut of the commission, not as a separate financial transaction from buyer.

If you find a pre-owned home that you like listed by The Villages you can make whatever offer you feel comfortable with just as you would on a MLS home. The sales agents are paid a commission and want to sell the home and will present your offer to the sellers.

Under Florida law, all licensed real estate agents must have a fiduciary relationship with both buyers and sellers, but that is not the same as being a sales agent. As a seller, if an MLS agent is acting as an agent for a buyer, I would not allow them to show my house, and I would not pay them a commission. I'm not sure what you are calling a "contract", but a contract requires consideration to be paid by both parties, the agent and the buyer. It sounds like the agent is representing the buyer, but wants to be paid by the seller? No way. The purpose of the commission is to represent the seller in selling the house. If the agent is representing the buyer, that is a conflict of interest. Why should I pay a commission to someone who is not representing me?

Although most real estate agents prefer to act as transactional agents some MLS agents will agree to act as buyers' agents, moreso now than in the past. A buyer can sign a buyer's agency contract with an agent or that provision can be written into the purchase and sale agreement. The buyer's agency agreement can be exclusive or nonexclusive. Normally the commission due a buyer's agent is paid out of the proceeds of sale just like that of the seller's agent.

Buyer Agency Agreement: Definition | Rocket Mortgage

Now, given that buyer's agency may be available from some MLS agents I do not know if any VLS agents are allowed to perform as buyers' agents or whether VLS agents can only act as sellers' agents. A phone call to a VLS office may provide you with an answer.

We can go through this for 20 pages again. But you are misunderstanding how most MLS listings currently work regarding paying the buyer agent.

The seller signs a listing contract with the seller agent with an agreement for commission. Let's say it's 5%. In the contract the seller agent may specify that they will split the commission with a buyer's agent. So the MLS listing says 2.5% to Buyer's agent.

The seller does not have to accept this, and as you have stated, you would not accept that. No problem. Now you have to have a seller agent willing to take less commission (or they keep the whole 5%). The listing will state no commission to a buyer's agent. So folks that look on MLS may see the listing and go see the home, and purchase it, unrepresented. Or they can be represented and pay their agent out of pocket.

The downside here is more money out of pocket to the buyer. Is your house worth the extra? Can the buyer pay the commission out of pocket? Did you lower the price of your home because you aren't paying a buyer's agent? If the buyer needs to pay their agent at closing, do they need a bigger mortgage and will the house appraise? Who knows, but because of the recent lawsuit, this may become more common.

You said you wouldn't show the house to a buyer if they had an agent. That's really going to cut your opportunities. I don't know why a buyer would see a home if they couldn't be represented in the transaction.

VLS agents won't work with buyer's agents at all. They don't act as buyer's agents either. Retiredguy's post pretty much describes how he wants transactions, and that's the way VLS does it.

That is no surprise. VLS does it their way or the highway. There may be potential liabilities connected with acting as a buyer's agent, the VLS recognizes that, and so it does not allow its agents to act as buyers' agents.

Yup, for a VLS new construction $2500 deposit to hold and then 10% within 7 days of signing the contract. That's for a new home already built. No contingencies. You drop out, they keep your money.

I agree with what you said. But, as a seller, I would not allow licensed agents to represent buyers and expect me to pay their commission. I would only pay the full commission to agents who only represent me, the seller. The Florida laws are very complicated, but I don't think the law allows licensed agents to represent both the buyer and the seller before a sales contract has been signed. After there is a sales contract, an agent can act as a transactional agent to facilitate the closing.

Thank you all for the responses. I was referring to pre-owned homes not new builds.

Noted your comments. Is this true when sales slow down(demand lessens)?

Finding a great agent is the key. We found one that assisted us even though we had someone else and he didn't get any benefit from us buying in the Villages. A few months later we had our in-laws use him and they loved him.

Call Genie Muldoon Realty
Not part of the Villages Realtors. The best. she Got us the perfect home. No bond. On 1/3 acre. 352 816 8765

This is not true.
Ask your realtor who they are working for. If the did not list the house they will always be working for the buyer. This is the same for a MLS agent or VLS agent.
If it’s a new Village home, the home price is set by the developer.

Wrong again.
Just call a VLS agent and ask them. I’ve bought 2 homes in the last year and the VLS agent worked hard for me to close the deals. I also looked at homes with a MLS agent and he worked hard for me but in the end the homes I bought happen to be from the VLS.
VLS does not split commission with MLS.

On a side note. The MLS agent was very nice and worked hard but he didn’t really know how the Villages worked. He only sold a couple homes here didn’t have the info on how to get id,s or what the fee’s cover. Again very nice guy but but just not his market.
The VLS sales went like clockwork, no surprises.

I believe it is you who are mistaken. If the home is a VLS listed home, ALL of the VLS agents are working for the seller.

Your particular agent may be relaying your offers to the buyer, obviously doing what he or she can to facilitate the sale to you so he or she can make a commission, but, for example, if your agent happens to know that the seller would take 10K less than your offer, your agent is not required to let you in on that. Your agent will still be working to get the maximum for the seller, not the minimum for you. Similarly, if there is language in the contract that benefits the seller, "your" VLS agent is not required to explain this to you. If you want eyes on the contractual language looking out for your interests, you need to pay those eyes separately if you are buying via VLS.

If you have an MLS agent acting as a "buyer's" agent for you, on an MLS listing, then your "buyer's" agent will be looking at that contract and explaining issues to you, and giving you a chance to understand why that language is not in your favor, and thereby representing YOU.

Real Estate Agents and their loyalty
 

I know different states are different, but here in Florida at closing a typical buyer's agent's Broker gets paid by the seller's Broker and then funds are distributed to the actual Real Estate Agents themselves. The smoke and mirror part of it is for you to think they are working on your behalf, They are not and with the Villages salesforce, they really are not. Agent's want a fast smooth closing with no wrench in the gears, By that, I mean they want to pick or arrange your home inspector, They have their own list of guys that won't "kill the deal" so they say. They have closing agents and insurance agents Etc. that they prefer to arrange for you. It all seems nice, but more often than not, it is not in your best interest. If you are a home buyer here in Florida, just know it is exactly the same as buying a car, New or used, it does not matter, when the deal is done you are not going to feel like you just got a great deal.

#12 ... new construction? Doesn't sound quite right. Unless T V changed something it's 20% down and they can keep your $$ not $2500. First come first serve unless they still are doing sales as a lottery system, which I believe ended.

Did something change on new construction?

T V has their own WAY. You don't like it? Move on.

For new builds there is no negotiation. The price is the price and the terms are the term.

Dynamic is Changing
 

True, but the world here is changing and if they don’t it all comes to an end for them. You can’t completely cut the impact of pre existing sales from new. It will be interesting to see how they develop through the new market world of realtor change, internet information , lower price point and the construction tactic maze. I’m willing to bet you will see something new shortly.

Paradigms were made to be broken as Deming and his wheel have shown.

Buyers agent
 

[QUOTE=heartofthecountry;2304397]I know that while working with my regular multiple listing realtor, they will negotiate for me if I am interested in a house. But how does this work with a Villages sales agent? That is, do they only represent the sellers? How does a potential buyer negotiate if they all work for the sellers? Thank you[/QUOTE
Has been my experience, the sellers agent wants you to sign their contract ,have a photographer take pictures of your house and list your house on the
MLS . The sellers agent then can sit back and have you the seller do the all work getting the house ready for a showing and wait for a realtor to bring buyers to look at your house . If their client buys your house the buyers realtor and the listing agent split the commission from the sales proceeds .
Beware of lazy listing agents , sell it by owner . There is a housing shortage so demand is great and supply is not .
My realtor never brought in a potential buyer for me .
Buyers should not pay commission only sellers.

Correct! VLS salespeople work as an agent for the seller. There is buyers agent in a VLS transaction.

The realtor has a fiduciary responsibility to the seller not the buyer. They can put in whatever offer you make but unless you hire them as a buyers agent they are under contract to work for the seller.

Correct. But under Florida law, all licensed real estate agents have a fiduciary duty to treat both the buyer and the seller fairly. However, this is not the same as representing them as an agent. In most cases, the agent represents the seller.

The whole statute is too long to post here. It is comprehensive but written in clear and concise English, not "legalese", so easy to understand.

(1) BROKERAGE RELATIONSHIPS.—
(a) Authorized brokerage relationships.—A real estate licensee in this state may enter into a brokerage relationship as either a transaction broker or as a single agent with potential buyers and sellers. 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. This part does not prevent a licensee from changing from one brokerage relationship to the other as long as the buyer or the seller, or both, gives consent as required by subparagraph (3)(c)2. before the change and the appropriate disclosure of duties as provided in this part is made to the buyer or seller. This part does not require a customer to enter into a brokerage relationship with any real estate licensee.
(b) Presumption of transaction brokerage.—It shall be presumed that all licensees are operating as transaction brokers unless a single agent or no brokerage relationship is established, in writing, with a customer.

From: Statutes & Constitution
:View Statutes
:

Online Sunshine

go with mls stay away from the villages

Better yet
 

Better yet, go with for sale by owner and Zillow.

Some good faith summaries in all these previous postings of FL real estate law (not direct excerpts, however, of the actual statutes) so to learn it all — go to the source documents (FL law) and read them. The poster above clearly summarized what most people need to know. Learn the above and you will avoid a lot of misunderstandings.

I'm offering $2500 cash if you find a buyer that works directly with my realtor.
 

Hello,
I have a home for sale. No bond. Village of Hemmingway - central Villages location. Close to everything, including easy traffic on 466A to Leesburg or Wildwood.
The house has been completely renovated, updated, customized. Premium kitchen, master bath, flooring, super efficient windows, instant hot water (dish washer / laundry). Paver front courtyard/patio, paver driveway.

2577 Dunbar Avenue, The Villages, FL 32162 (MLS #G5078895) :: Realty Executives

Please contact Charmaine directly - she will assign you a buyers agent from her team to represent you. The realtors want to make sure that buyer and seller are happy; they do this to try to lead to a transaction, or nobody gets paid.

If anyone finds me a buyer that will work directly with Charmaine or her team, I will pay the finder $2500 upon closing due to reduced commission owed by me.

Take Care.

They may lower prices but still don’t negotiate.

MLS buyers agents that screw their buyers with corrupt inspectors or by misleading their buyers don’t last long. I know on the surface it may seem they just want the sale and so may not really protect their buyers interest. But that simply not true. Word of mouth makes or breaks real estate agents.

I think you were replying to my post. I was referring to new complete homes. Not buying the lot and building. The $2500 is only for a 3 day hold while you sign the contract. This takes the home off VLS for 3 days. Then the 10% is needed a week after signing the purchase agreement.

Preowned
 

I prefer to remove the agent all together and deal directly with the owner. Let the agent write up the offer. The owner can tell you things (if they're willing) about the house that the agent just doesn't know.
Buying new, they have the upper hand and you pay the price or move on.

I agree, no matter where you are, all the agents are working for the seller to some degree. If the house sells they make money, if it doesn't they are working for nothing until it does sell.

Correct. Our Villages agent did just that...