Why Use A Buyer's Broker?
When sellers enter into a listing agreement with a real estate broker to sell that property, the broker becomes their agent. The broker is legally bound to act in confidence, to follow their instructions, and to obtain the highest price for the property.
However, when you, the Buyer, sign an agreement with FREA, we become your agent. We represent your best interests in the real estate transaction. A Buyer's Broker is legally required to represent your best interests, to follow your instructions, and to obtain for you, the property you want to purchase at the lowest possible price.
Florida Real Estate Advisors is not a listing service. We assist buyers of commercial properties. We act objectively with our clients best interests in mind. General features such as location and property type are listed. Prices and investment returns are not based on contractual terms with the owners and will change over time. A relationship must be made with FREA to determine the buyer's goals, then detailed information will be provided on appropriate properties.
What a Buyer's Broker Does
- Represents only the buyer in every part of the purchase process;
- Researches the property, the seller and market conditions, to enable the buyer to purchase property at the best price;
- Provides an honest analysis of each property, including both good and bad points;
- Assists in preparing an offer to purchase the property with terms favorable to the buyer;
- Professionally presents the offer to purchase to the seller;
- Negotiates with the seller to obtain the property at the best price and terms for the buyer;
- Assists the buyer in contacting the professionals necessary to complete the purchase, including financing, title insurance, building insurance and pest inspections;
- Reviews all documents for accuracy; and
- Accompanies the buyer to the closing to verify that all terms and conditions of the purchase agreement are met.
How a Buyer's Broker Gets Paid
Our services are normally free to you. The buyer's broker is usually paid by the seller from the transaction commission. The same commission the seller agrees to pay his listing broker. Listing brokers usually offer a "cooperating" fee to any broker who obtains a buyer for the seller's property. It doesn't cost the buyer any more to be legally represented by a buyer's broker. Most times it will cost the buyer less, because the buyer's broker can negotiate a lower price and better seller concessions.
Brokerage Relationship Disclosure
FLORIDA ASSOCIATION OF REALTORS
SINGLE AGENT NOTICE
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES OPERATING AS SINGLE AGENTS DISCLOSE TO BUYERS AND SELLERS THEIR DUTIES.
As a single agent, Florida Real Estate Advisors and its associates owe you the following duties:
- Dealing honestly and fairly;
- Full disclosure;
- Accounting for all funds;
- Skill, care, and diligence in the transaction;
- Presenting all offers and counter offers in a timely manner, unless a party has previously directed the licensee otherwise in writing; and
- Disclosing all known facts that materially affect the value of the real property and are not readily observable.
This form is available for use by the entire real estate industry and is not intended to identify the user as a Realtor. Realtor is a registered collective membership mark which may be used only by real estate licensees who are members of the National Association of Realtors and who subscribe to its code of ethics.
Copyright © 1998 Florida Association of Realtors