[Velvet]

Originally Posted by MikeVillages

1. If it is a buyer market, your agent can put in the offer that the owner pay closing cost. Most likely it will include the money spent for his commission but is not called a commision. This is a legal way to get around MLS regulation that the buyer pays the buyers agent.

2. You may want a buyer agent because if not, the sales agent writes the agreement. The agreement most likey will not protect you should something goes wrong.

3. You can look at open houses without having a buyer agent. You can also ask a buyer agent to put a clause that you are allow to terminate the agreement. He may require that if he shows you a house and you terminate the agreement, he is still the agent for X number of months. Sounds fair to me.

Talk to a buyer agent. Ask the agent what s/he can do for you.

Number 2 point; that is what my real estate lawyer does, except they are cheaper and give legally correct advice. And I am not locked into paying a buyer agent whether he/she shows me the house I buy or not for 6 months or so.

Also, because what stands up in court is the WRITTEN agreement, I make sure I understand every bit of it and write into the contract in my own words what I understand if it is ambiguous, and also write in anything I expect precisely - I write into my offer - because that is what it is - my offer - to be crystal clear to both myself and the seller.

[CoachKandSportsguy]

our renters rented for a little over two months,
found a house and closed about 6 weeks into the 10 week rental. .

its possible if you can make a decision quickly, and are reasonable about location and house design. Although a pain in the azz, you can always move within TV, after about 2 years, when your house will gain enough to pay off the selling commission and buy the same $ house which checks all the boxes. .

If you have very specific boxes to check, there may not be a complete box checked house available at the time of your arrival. In that case, just rent and take the 4-6 months to make a decision. .

*note, we bought a designer lot on Wednesday during a week's lifestyle visit to a place we had never heard about before. . . . .

all depends upon your ability to make a decision and to be somewhat lucky with what's available when you visit.

[rjm1cc]

I agree this can be a problem. I would add to the agreement "exclusivity applies only to the properties your company accompanied me on a tour". I would sign and then return to the broker. He can accept or reject. I would not negoated the wording with him before modifying the agreement. I would listen to suggestions and maybe a compromise on the wording. The idea is he loses you as a customer or meets you halfway.

[BrianL99]

Originally Posted by MightyDog

No doubt that many buyers should not be operating on their own. They just aren't experienced enough, aware enough or have the needed confidence...any of which could be costly.

Questions, please:
1 - Define what you mean by "huge mistakes" and "particularly in Florida" -- what's unique about FL in this regard?
2 - Why does FL try to keep lawyers out? Also, why is a lawyer necessarily needed? (Inspectors and title companies are only what's used in many other states.)

There are pitfalls to buying property, as most people know. Unfortunately, they don't always know what they may be. In a situation as complicated at TV, there are deed restrictions, use covenants, easements up the gazoo and a lot of things that novices take for granted or don't pay attention to. To say nothing of the terms and conditions of a contract.

What I don't like about Florida, is they use a "1 step process" for buying/selling. In most states I've done business and in all commercial transactions, it's a 2 step process. It starts with an "offer" or "letter of intent", both of which are essentially "agreements to agree". After those are signed, which include the basic parameters of the deal, attorneys (generally on both sides), will prepare an agreed to Purchase and Sale agreement. Both trying to protect their clients.

Real Estate brokers almost always use a "standard form" which is prepared by their Association and would have one believe, they are non-negotiable. That's always been untrue, but it's sometimes a struggle to revise them.

Florida, as well as many other states, strive to keep lawyers out of the mix, because they don't want the aggravation and brokers want to control the sale, using standard paperwork and hoping nothing goes wrong.

It boggles my mind, that someone will take $400,000 of their money and hand it to some admin person at a Title Company and just assume everything will go fine. The people doing most of the work at title companies are clerks ... no more, no less.

Who's at risk, if the house burns down during the closing? Or before? What if it was damaged by fire, 3 days before closing? Can you get out of the deal?

Who's at risk if the home isn't in the same condition as it was when you signed the agreement? Can you get out of the agreement?

What happens if a CDD issued a serious fine and put a lien on the property, between signing the agreement and closing? Can you get out of the deal?

What if you move into your new home and find out, someone's been using part of your back yard as a "pass through" to somewhere and has been doing it for 20 years ... can you now stop them?

What happens if one of the owners dies, prior to closing? What happens if the seller just changes their mind?

There are 100's of thing that can complicate a sale. 95% of the time, they don't occur. If you end up in the 5% with problems, you'll be glad you had a lawyer on your side.

Just my opinion, your mileage may vary.

[CoachKandSportsguy]

Originally Posted by BrianL99

There are pitfalls to buying property, as most people know. Unfortunately, they don't always know what they may be. In a situation as complicated at TV, there are deed restrictions, use covenants, easements up the gazoo and a lot of things that novices take for granted or don't pay attention to. To say nothing of the terms and conditions of a contract.

What I don't like about Florida, is they use a "1 step process" for buying/selling. In most states I've done business and in all commercial transactions, it's a 2 step process. It starts with an "offer" or "letter of intent", both of which are essentially "agreements to agree". After those are signed, which include the basic parameters of the deal, attorneys (generally on both sides), will prepare an agreed to Purchase and Sale agreement. Both trying to protect their clients.

Real Estate brokers almost always use a "standard form" which is prepared by their Association and would have one believe, they are non-negotiable. That's always been untrue, but it's sometimes a struggle to revise them.

Florida, as well as many other states, strive to keep lawyers out of the mix, because they don't want the aggravation and brokers want to control the sale, using standard paperwork and hoping nothing goes wrong.

It boggles my mind, that someone will take $400,000 of their money and hand it to some admin person at a Title Company and just assume everything will go fine. The people doing most of the work at title companies are clerks ... no more, no less.

Who's at risk, if the house burns down during the closing? Or before? What if it was damaged by fire, 3 days before closing? Can you get out of the deal?

Who's at risk if the home isn't in the same condition as it was when you signed the agreement? Can you get out of the agreement?

What happens if a CDD issued a serious fine and put a lien on the property, between signing the agreement and closing? Can you get out of the deal?

What if you move into your new home and find out, someone's been using part of your back yard as a "pass through" to somewhere and has been doing it for 20 years ... can you now stop them?

What happens if one of the owners dies, prior to closing? What happens if the seller just changes their mind?

There are 100's of thing that can complicate a sale. 95% of the time, they don't occur. If you end up in the 5% with problems, you'll be glad you had a lawyer on your side.

Just my opinion, your mileage may vary.

Well typed and another reason why FL is a third world state. .

[CoachKandSportsguy]

Originally Posted by rjm1cc

I agree this can be a problem. I would add to the agreement "exclusivity applies only to the properties your company accompanied me on a tour". I would sign and then return to the broker. He can accept or reject. I would not negoated the wording with him before modifying the agreement. I would listen to suggestions and maybe a compromise on the wording. The idea is he loses you as a customer or meets you halfway.

I would also consider adding a short time limit as well. . to limit the company or representatives opportunity to accompany you . . .

Striking out a line and inserting new requirements without the agent's prior signature is perfectly acceptable in this case, and if its in a docusign pdf, time to create your own word document / pdf for your conditions, and have that printed and available electronically for any open house mandated buyer's agent. .

The other potential route is that passing the realtor's license exam is not that hard. Pass it and then represent yourself as a licensed broker.

YMMV

[BrianL99]

Originally Posted by CoachKandSportsguy

The other potential route is that passing the realtor's license exam is not that hard. Pass it and then represent yourself as a licensed broker.

YMMV

The 2 year "apprenticeship" is the problem with that.

[JMintzer]

This thread...

[Topspinmo]

Originally Posted by vintageogauge

It doesn't matter how you do it in the end you're still paying for it, sellers are stupid and won't be giving up a dime.

Are or aren’t? Are don’t make sense?

[jmac1031]

Originally Posted by Craig Vernon

I am not up against any deadline to buy my forever home in TV, but my retirement date is approaching. With the new real estate law most realtors are requiring a buyer's agent agreement to show properties listed on the MLS. I saw one of these forms from a large realtor in TV that stated that I was exclusive with them for sixty days on any purchase. I am wary of the possibility that these agreements can limit my buying experience in a ton of ways. Few Examples: For Sale By Owner, VLS, Promptness of showings may be limited, delays in paperwork or offers. I believe in the motivation of commissions but with exclusivity to an individual agent the dynamic changes. I will be watching and waiting to hear of any experiences coming after new law takes effect on August 17 and moving forward. See you all as a neighbor in TV early 2025!

You stipulate the dates - the properties you identifyto the agent area, price, county, etc.(&whether FSBO etc) and area, a county, whether the seller is paying the compensation and not you, and the amount of the compensation! Be wary of boiler plate contract already filled in for you They wishful thinking on the part of the broker who create the forms. The point of the settlement everything is negoiatable. A form is required to see any properties in MLS. All agents will require it. No exceptions! Do some looking at open houses and feel out different agents for their requirements. A form is not required to attend an open house unless you start to negoiate on the home. Remember Realtors will not and should not have to work for free.

[margaretmattson]

Originally Posted by jmac1031

You stipulate the dates - the properties you identifyto the agent area, price, county, etc.(&whether FSBO etc) and area, a county, whether the seller is paying the compensation and not you, and the amount of the compensation! Be wary of boiler plate contract already filled in for you They wishful thinking on the part of the broker who create the forms. The point of the settlement everything is negoiatable. A form is required to see any properties in MLS. All agents will require it. No exceptions! Do some looking at open houses and feel out different agents for their requirements. A form is not required to attend an open house unless you start to negoiate on the home. Remember Realtors will not and should not have to work for free.

A listing agent is not working for free. The contract between the listing agent and the seller stipulates how much the agent will receive. Buyers agents must negotiate with their client or the listing agent /seller for compensation. If all are unwilling to pay, you cannot force them. Walk away and find someone who is willing to compensate you for your professional expertise. Selling real estate has changed. Those who are unwilling to accept the new way to do business should seek other employment

The OP is wary of signing the paperwork needed to simply view homes. If he is coerced to do so, (by agents refusing to show him homes he has interest in) his signature on the documents mean nothing. He can walk away from the deal at any time. Forcing anyone to sign something against their will is illegal. The seller, agent, or broker can try to sue but they will most likely lose.

IMO, there are many things in the new "required" buyer documents that seem sketchy. I expect someone to take the brokerage firms to court faster than you can say Jiminy Cricket.

[Craig Vernon]

Wow, Thanks for all the excellent advice as there are too many to respond to individually, please accept that I have read them all. Again, this is a wonderful forum to find some deeply thought-out responses. My wife and I look forward to being your neighbor coming into the new year.

[retiredguy123]

Originally Posted by margaretmattson

A listing agent is not working for free. The contract between the listing agent and the seller stipulates how much the agent will receive. Buyers agents must negotiate with their client or the listing agent /seller for compensation. If all are unwilling to pay, you cannot force them. Walk away and find someone who is willing to compensate you for your professional expertise. Selling real estate has changed. Those who are unwilling to accept the new way to do business should seek other employment

The OP is wary of signing the paperwork needed to simply view homes. If he is coerced to do so, (by agents refusing to show him homes he has interest in) his signature on the documents mean nothing. He can walk away from the deal at any time. Forcing anyone to sign something against their will is illegal. The seller, agent, or broker can try to sue but they will most likely lose.

IMO, there are many things in the new "required" buyer documents that seem sketchy. I expect someone to take the brokerage firms to court faster than you can say Jiminy Cricket.

I agree. I am not going to sign a contract just to see a house that is for sale. What's next? Car dealers asking customers to sign a sales contract before they even see the car?

[DebMil]

Originally Posted by MightyDog

I will have moved to TV by Sept 8...in less than a month. My packed POD will be in storage in Ocala until I call for delivery of it.

After recovering for a couple days, I will be full-court press in home touring and buying mode. I will do it on my own, as I have several times in the past elsewhere, which works to both my favor and the sellers (one less agent to pay). I have my eye on 2 or 3 pre-owned currently on the market and have no intention of hiring a buy-side agent.

That's it. That's how I will do it.

That's how I planned it. But, when I looked at a home and favored it, Zillow sent me a buyer's agent, who called me.
Now, everytime I favor a home, a message pops up " view this home with your buyer's agent Rita? B.S.
Make sure you call the listing agent directly and not the 866 # or the contact by text box. It goes to Zillow who assigns you an agent.