[Mark1130]

If we are to buy a pre-owned home listed through The Villages, does the sales rep have the interests of the seller only or do they have an equal share in the buyer's interest?

Should I consider getting my own representation in the transaction?

[rjm1cc]

Who is paying the sales rep? The seller is and the loyalty of the sales rep should be to the seller, no you.

[l2ridehd]

By real estate law, the agent has to have a fiduciary relationship with the seller. UNLESS you specifically hire them as a buyers agent.

Example. You see a home with an agent who you did not hire as a buyers agent. The asking price is 300K. You make an offer for 285K, but tell the agent if they don't accept you will move to 295K. That agent is bound by law to tell that to the seller. If they don't, they could lose their license.

[Jim 9922]

The only way you can maybe, possibly get them a bit interested in helping you is to work with the listing agent. Then the agent has double the commission to lose if the deal doesn't go through. (no big deal if they lose $4500, but you might get their attention if $9000 is at stake)
One way to beat The Villages' system is to determine who the listing agent is for the house you want to see and make a specific appointment or do open houses and don't give out your name so the "host" agent can't "claim" you. The specific agent deal works especially well with all the non-Villages companies. At least those people are much better to work with on pre-owned because they aren't being pressured to sell new housing by their Masters.
In general, not only is the agent working for the seller but is also working for his/her own best interest. A lower price is a lower commission. Their incentive is to get the higest price possible. That's not the buyer's goal. The system is stacked against you.

[mrfixit]

Originally Posted by Jim 9922

The only way you can maybe, possibly get them a bit interested in helping you is to work with the listing agent. Then the agent has double the commission to lose if the deal doesn't go through. (no big deal if they lose $4500, but you might get their attention if $9000 is at stake)
One way to beat The Villages' system is to determine who the listing agent is for the house you want to see and make a specific appointment or do open houses and don't give out your name so the "host" agent can't "claim" you. The specific agent deal works especially well with all the non-Villages companies. At least those people are much better to work with on pre-owned because they aren't being pressured to sell new housing by their Masters.
In general, not only is the agent working for the seller but is also working for his/her own best interest. A lower price is a lower commission. Their incentive is to get the higest price possible. That's not the buyer's goal. The system is stacked against you.

I do not understand the advantage of dealing with the listing agent......Let me see.....IF I was to deal direct with the listing agent.....to buy a house..... the incentive for them is to sell me the home they had also listed.( double dollars for them--so far so good- I get that part). HOWEVER they have NO incentive, whatsoever, to show me homes that they did not list which could be MUCH BETTER DEALS for me. I always thought it would be better to NOT deal with the listing agent..... IF you want to get the most bang for your buck......

[downeaster]

Originally Posted by Mark1130

If we are to buy a pre-owned home listed through The Villages, does the sales rep have the interests of the seller only or do they have an equal share in the buyer's interest?

Should I consider getting my own representation in the transaction?

There are seller's agents, buyer's agents, and transaction agents. If you are dealing with the listing broker the agent is probably a seller's agent. You may find if the listing broker is The Villages the agent will not be a buyer's agent.

If it were me I would ask the agent who they represent. I would not hesitate to deal with any of them as long as I knew their status.

A seller's agent's duty is to get the best deal for the seller. You would not want to tell a seller's agent you are offering let's say $200,000 for a property but are willing to go as high as $210,000. That agent is obligated to tell the seller of your willingness to pay more than the offer. On the other hand a buyer's agent should not reveal that type of info to the seller.

Discuss your relationship with the agent so you know where you stand.

The law of agency as it applies to real estate transactions is a little murky. Keep in mind no one can be totally loyal to both sides at the same time.

[hedoman]

Our TV Sales Rep, Lorainne Anderson, helped us so much including representing us at closing. She couldn't have done more for us and our interests. FL law really is specific as to disclosures that nothing can be "hidden". Lorainne still watches over us even months after the sale. She went far and beyond our expectations....