Ocala Real Estate Buyers Center
You have decided to become better informed and educated before you buy your next home. We hope you have read How to Simplify the Buying Process and now you are one step closer to understanding the steps to buying your next home. The topics covered in "Simplifying the Buying Process" are vital to your home buying success. We won't tell you that our site provides everything you need to know about purchasing a home, but we try to cover the most important issues.
Read the required info below for your own protection against unethical licensee activity. Other state issues will be discussed when you meet with us at your first consultation in our office or on the phone, and you will be asked to sign the Brokerage Relationship Act disclosure form. We make every effort to provide the information to you directly from the Florida State Statutes, so please continue reading the info below to become more familiar with the disclosures required by the state.
You are almost ready to start your home search, it's easy when you use the Find a Home page, but please don't stop reading here.
Exclusive Buyers Agent and the Buyer
Why do you need a Buyers Agent?
The listing agent represents the seller and owes fiduciary duties to the seller. His or her duties are to get the highest price for the seller. As the buyer you want the best and lowest price. A buyers agent knows the market and if a home is overpriced. A buyers agent knows the best approach when dealing with other professionals in the real estate market. A buyers agent knows the history on most properties and has access to information you need when deciding if the property is right for you. A buyers agent will have all the contracts, forms and documents necessary to make your offer. A buyers agent will diligently work with all parties to make sure you stay within the terms of the contract and keep you notified if you risk a possible default of your escrow funds.
Will you see all the homes that meet your housing needs if you go directly to a listing agent?
No, a listing agent for any home is going to try and sell you that home. To see other homes you need a buyers agent who will show you every home that meets your housing needs.
Are Buyers Agent Specialist licensed Real Estate agents and qualified to help me buy a home?
Yes! As a Buyers Agent we are fully qualified to represent all buyers. We are highly accredited and experienced in the Ocala housing market. In fact, the Florida Legislature thought it was so important they created a statute to protect all buyers.
Can a listing agent represent me as a buyers agent?
Absolutely not! Here's the law again. "Licensees must operate as either single agents or transaction brokers. Transaction brokers and agents do not represent the seller or the buyer"
Are there any extra fees, commissions or charges?
No! Our services do not cost you anything. You have nothing to lose! Yet you have a professional licensed real estate agent working on your behalf full-time.
What can I expect from a listing real estate agent if I choose to enter into a purchase contract on a home without a buyers agent?
You will have to do all your own research. You will not receive any instruction or advice on what you should do to protect your best interest or your escrow money. You will not receive a comparable market analysis on what the best price and offer should be so you risk offering too much. You may not receive honest and objective answers to your questions about the home, neighborhood or condition of the property. You can expect to be pressured into making a decision on a home. But with a buyers agent you should never feel pressured into making any decisions. You basically give up all your purchasing power and some of your legal rights when you decide to buy a home without a buyers agent.
Important Florida State Disclosure Info
The Brokerage Relationship Disclosure Act was created to protect the consumer and that is it's only function. The disclosure serves as a written statement to all parties involved in any real estate activity that the buyer understands his rights to Real Estate representation when buying a residential home. If he doesn't understand those rights or who the Real Estate Agent is representing at their first meeting the buyer should not sign the disclosure, or agree to view any properties with that agent until the disclosure is received and understood by all parties. The purchase of real estate may be the largest investment you ever make, so as a homebuyer if the real estate agent follows the statutes put in place by the State, and you decide to proceed without an agent working for you, you are not acting as a smart buyer. Make sure you have a real estate agent working for you and not the seller. Now you should understand why a Buyer's Agent Specialist is so important to you in the home buying process.
Just when you thought buying a home was simple you discover there are things you must know. All Florida real estate licensees are required by Florida Statutes to make sure you know your rights and your representation status as a buyer. The State of Florida thought this information was important enough to mandate all licensees make home buyers aware of the following disclosure. We are sure you will have questions so feel free to seek a professional explanation or visit the Florida State website.
Here is how the Florida legislature explains the Brokerage Disclosure Act
Specifics of the New Law
The Florida Legislature assigned the title, "Brokerage Relationship Disclosure Act" to the main part of this new law, and identified six points which apply broadly. The new statute also describes, in considerable detail, the types of disclosure licensees must give when engaged in residential transactions.
The six points of the new law which apply broadly seem to capture the overall concept of this legislation by specifying:
- (1) Licensees must operate as either single agents or
transaction brokers;
- (2) A single agent may not serve both parties in a
transaction,
- (3) Disclosed dual agency is expressly revoked;
- (4) Transaction
brokers engage in ". . . a limited form of non-fiduciary representation to a
buyer, a seller, or both . . .";
- (5) in residential transactions, a
notice of non-representation must be given to customers "upon first
contact"; and
- (6) Statutory forms are provided for giving the notice of
non-representation and brokerage relationship disclosures in residential
transactions. [Florida Stat., sect. 475.272]