[Boomer]

Question re. the presentation of offers:

Do VLS agents handle offers in the same way as MLS agents?

[meemawhoney]

Four different disclosure notices may be given to buyers or sellers of residential property:

1. Transaction Broker Relationship - Under the law, licensees are prsumed to be transaction brokers. A transaction broker provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity. The licensee must treat the parties fairly and not work with one party to the detriment of the other.

2. Single Agent Relationship - Who represents as a fiduciary, either the buyer or seller but not both in the same transaction.

3. Consent to Transaction to Transaction Broker-When a single agent for one party begins working with a party who is likely to be on the other side of the transaction, it is likely that the agent will change to a transaction broker to treat both parties fairly. The single agent who becomes a transaction broker may not disclose to another party any information gained while a single agent. Their must be a Consent to Transaction to Transaction Broker notice and it must be signed before or at the time of changing the brokerage relationship from single agent to transaction broker.

4. No Brokerage Relationship - Licensees working with a customer without a brokerage relationship owe the customer the following duties: Dealing honestly and fairly, Disclosing all known facts that materially affect the value of the residential real property that are not readily observable to the buyer, and accounting for all funds entrusted to the licensee.
A licensee must give a No Brokerage Relationship Notice to the party the licensee works with but does not represent. The disclosure must be given to all prospective buyers and sellers of residential properties before showing them.

To sum it up, the law requires that all brokers must disclose their brokerage relationships to all customers in residential real estate sales at time of contact.

Hope this helps to answer some questions regarding all brokers who sell residential real estate.

YOU NEED TO MAKE SURE THAT THE BROKER GIVES YOU ONE OF THESE DISCLOSURES WHEN YOU CONTACT THEM TO PURCHASE RISIDENTIAL REAL ESTATE. IT IS A FLORIDA LAW.

THIS IS A QUOTE FROM THE REAL ESTATE LAW OF FLORIDA.

[billethkid]

I suggest a subject name change.....Pre-owned Home Buyers, Beware

What is discussed here is not unique to The Villages.....it applies to all agents who first and foremost want to sell you a house they have listed or in a certain tract where they get a cut from the builders....I just changed my mind again...the new suggested subject name =

Home Buyers, Beware

The Villages just does what they all do....me first....customer second!!

If you do your home work YOU can manage the outcome......anywhere.

BTK

[SteveZ]

Regarding the presentation of offiers, agents are supposed to present ALL offers, regardless of the agent's opinion of the offer.

Another point of contention with me has always been the "agreement" between me (whether as buyer or seller) and the agent/broker. The "form" used is not sacrosanct. While many agents/brokers try to convince you otherwise, all terms between agent/broker and you are negotiable. In law school one of the first things discussed in contracts law classes is the "power of legitimacy" given to foms - which is why all businesses try to create forms which protect their interests first, and then excuse themselves during negotiations (large or small) that they are restricted on what they can do "because of the form." It's a great technique. so, when my money's at stake, the form means nothing except as a convenience which can be amended, sections stricken and sectionns rewritten, based on how I'm willing to do business. This is definitely one of the times the "golden rule" (s/he with the gold, rules!) applies.

The first thing that I always do when I am ready to buy, is interview real estate attorneys in the area. After I find an attorney that I am comfortable with, I will choose two realtors, one from The Villages and one MLS realtor. Then I will go house hunting. During this process of trying to find the right house for us, I will sign all required paper work from the realtor; binder, deposit, brokerage agreement etc. "subject to my attorneys approval" This way I can lesson the probability of mistakes and my attorney can protect me from signing something that is not in my best interest. I have found in the past that the cost of an attorney, when dealing with large amounts of money, like buying a house. Is well worth the cost.

[Frangyomory]

The Villages sales representatives will not automatically suggest pre-owned homes.
I would suggest that you check out al the for sale by owner in the paper and on this web site. I have a friend who is selling her three bedroom courtyard villa herself and won't place it with the Villages.

As for the folks who are now looking elsewhere because of a bad experience, I must tell you, you can buy a home anywhere and love it. One big point is you will not find any community with as much activity as the Villages so be sure to check things out there as well. Most retirement communities have one or two golf courses and a couple of pools and tennis courts and that is all. Here we have many, many pools, golf courses, tennis courts,etc. So much to do if you want and wonderful neighbors.

Don't let sales people put you off on the Villages. This is not just a home, it is a lifestyle.

Good luck.

[mneumann02]

I just joined this forum and this is exactly the kind of information I am looking for. My wife and I are going down in the end of March to look for a home in TV. We have been put off by the prices ($250-$400/sq. ft. seems pretty high for what you get). So we want a realtor who is going to look out for OUR best interests. We love what we have seen about TV and hope to find something at a reasonable price. We are a little confused. Are all TV Agents like agents for one real estate company that is selling all the homes listed with them, so they are representing the seller only? Then why get a TV agent? Why not only get an MLS agent? Can't the MLS agent show you any TV home that is listed?

I am so glad i joined this forum, because this is the kind of information we are looking for to determine if TV is for us and what to be cautious of.

[captain1202]

Mneumann....

In fact, TV listings are shown ONLY by TV Sales People. I'm not sure they are really agents. MLS agent/brokers will show you ONLY MLS listed properties. Homes shown on the TV website as "Properties of The Villages" are shown only by TV folks. There are lots of NICE MLS listings so be sure to check them out. I think you will find the MLS properties more realistically priced and often with many nice upgrades. Plus, you can haggle with MLS owners a lot more easily than with the TV agents who are programmed to avoid bargaining (read, presenting a lower offer).

Also, not sure where you are getting $250-$400/sf unless you are looking at very high end homes. If you haven't actually been here yet, don't assume you need a comparably priced home to replace what you are coming from $$ wise.

Think of what you REALLY need for space and adjust your search accordingly.