Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
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#3
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Recently I have observed agents moving toward being transactional agents and even non-agents as with a couple of sales of commercial properties I sold in 2022 and 2023. I do not know if Florida residential agents are trending that way or not. Postings of the relevant Florida real estate agency statute is available in past TOTV threads. I do not know how the recent NAR settlement has/is affecting how commissions are paid. I imagine it will be an evolving situation. I haven't a clue about how VLS agents operate.
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#4
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There was a recent settlement on a class action case involving real estate commissions.
Home buyers to be spared automatic broker commissions under new $418 million settlement – NBC New York Does anyone know if commissions have changed in the Villages? |
#5
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CONSENT TO TRANSITION TO TRANSACTION BROKER FLORIDA LAW ALLOWS REAL ESTATE LICENSEES WHO REPRESENT A BUYER OR SELLER AS A SINGLE AGENT TO CHANGE FROM A SINGLE AGENT RELATIONSHIP TO A TRANSACTION BROKERAGE RELATIONSHIP IN ORDER FOR THE LICENSEE TO ASSIST BOTH PARTIES IN A REAL ESTATE TRANSACTION BY PROVIDING A LIMITED FORM OF REPRESENTATION TO BOTH THE BUYER AND THE SELLER. THIS CHANGE IN RELATIONSHIP CANNOT OCCUR WITHOUT YOUR PRIOR WRITTEN CONSENT. As a seller, I would never allow an agent to be a transactional agent until all contingencies in the sales contract were satisfied. Also, I would never allow a buyer's agent to receive any of the commission paid by me at closing. If I am paying a sales commission, then I want exclusive representation by any agent who shows my house. |
#6
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A few things:
MLS agents are not permitted to show VLS-listed properties. The Villages has an exclusive contract, and sellers sign the contract with the VLS to maintain exclusivity. MLS agents get no commission if the property is sold via Properties of The Villages. In turn, Properties of The Villages get no commission if they represent the BUYER in a sale of an MLS-listed home. Properties of the Villages reps/agents may arrange for showings of MLS-listed homes, but they may not perform the showing. The MLS agent must be in attendance, the VLS agent doesn't get a key or passcode for the key-box. VLS agents are -employees- of Properties of The Villages, and do get paid, no matter which home they're helping a buyer buy. But they don't get commissions on properties that Properties of The Villages don't sell. |
#7
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I’ve bought 6 homes in villages the first 5 were new so I was only using my vllages agent , the last was preowned so. Had both a realtor company and my villages agent. It went very well and there as no hard feelings when I bought from an outside realtor
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#8
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As are most MLS agents VLS agents may be independent contractors, not employees. I am not sure either way.
I found this when searching to discover whether VLS agents are independent contractors or employees. I do not know if he is correct. https://www.thevillagesproperties.co...ge=0002753763&
__________________
"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#9
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It seems to me that some agents want to have it both ways. They want to represent a buyer, but they want to be paid by the seller. If that is ever mandated, I would just list the house myself and offer a smaller commission to the agent who brings me a buyer. And, I don't need a "transaction" agent. I need an agent who works for me and is a good salesperson.
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#10
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NOTE: as a buyer, you won't see a sales commission cost on your side (eg MLS agent 6%)....however, as a buyer, you will indeed be out of pocket for a number of costs (eg appraisal, taxes, loan costs, prepaid interest), so just be prepared and you'll be presented with a disclosure from the selling agent.
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#11
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#12
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I was told changes due to the NAR lawsuit will begin in July. Until then, commissions owed the buyer's agent will still be paid from the seller's proceeds.
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#13
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To me this seems to be much ado about nothing. I was a Realtor in NE for 41 years and when I worked with buyers, without exception I was paid by sellers. When I represented the sellers I negotiated on behalf of the sellers. When I sold my own listing I represented both parties. I am confused as I honestly do not ever remember there being a conflict.
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#14
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#15
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When you represented both parties, did you try to get the lowest price or the highest price?
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