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You should not assume that
any real estate broker or salesperson represents you unless you agree to engage a
real estate licensee in an authorized brokerage relationship, either as a single agent or
as a transaction broker. You are advised not to disclose any information you want to be
held in confidence until you make a decision on representation.
Buyers Beware- When you
call on a yard sign and speak to the listing agent, remember, they are representing the
Seller and NOT YOU. Don't reveal personal or financial information to the listing agent or
the seller. Aways conceal your excitement when you fall in love with a home. This, and the
maximum price you can pay, is for you alone to know. Show some interest in each home
you're shown which has desirable features. Then, when the right one comes along you won't
blatantly telegraph your true degree of interest. It's suggested you use an
exclusive Buyers Broker...an agent whose exclusive loyalty and skills are
used on your behalf. As unfair as it seems, in most typical home purchases, the only one
NOT represented is YOU... the buyer.
The Buyer's Broker's fee is paid by
the seller and not You. The
Buyers Broker Agent is compensated by sharing the commission that the seller has agreed to
pay their listing agent. The buyer can receive representation at no additional cost to
themselves. In the case of New Homes, the Sales Agents in the Model Homes are highly
trained representatives for the Builder and not You. You can work with
those Agents and still have someone on your side! Your Buyers Broker Agent will look out
for your best interests. Even though the Broker is compensated by a seller or agent
working with a seller, such compensation does not compromise Brokers duties to the Buyer.
Buyer Broker- (Single Agent) A prospective buyer contracts
with a buyers broker under a single agency agreement. A Buyer's Broker is legally
bound to act in best interest of the client and their interests only. The Buyer's Broker's
fee is paid by the seller and not you. A Buyer's Broker is in a much stronger negotiating
position, which typically results in a lower purchase price. You and your agent work
together exclusively.
Florida Law on Representation:
Buyers Broker - 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,
(Brokerage Company) and it's associates owe to you the following duties:
1- Dealing honestly and fairly
2- Loyalty
3- Confidentiality
4- Obedience
5- Full Disclosure
6- Accounting of all funds
7- Skill, care and diligence in the transaction
8- Presenting all offers and counteroffers in a timely manner, unless a party has
previously directed the licensee otherwise in writing
9- Disclosing all known facts that materially affect the value of residential real
property and are not readily observable
Transaction Broker Notice-
Florida Law requires that Real Estate Licensees operating as Transaction Brokers disclose
to Buyers and Sellers their role and duties in providing a limited form of representation.
As a transaction Broker, (Brokerage Company) and it's associates, provides to you a
limited form of representation that includes the following duties:
1- Dealing honestly and fairly
2- Accounting for all funds
3- Using skill, care and diligence in the transaction
4- Disclosing all known facts that materially affect the value of residential real
property and are not readily observable to the buyer
5- Presenting all offers and counteroffers in a timely manner, unless a party has
previously directed the licensee otherwise in writing
6- Limited confidentiality, unless waived in writing by a party. This limited
confidentiality will prevent disclosure that the seller will accept a price less than the
asking or listed price, that the buyer will pay a price greater than the price submitted
in a written offer, of the motivation of any party for selling or buying the property,
that a seller or buyer will agree to financing terms other than those offered, or of any
other information requested by a party to remain confidential
7- Any additional duties that are entered into by this or by separate written agreement.
Limited representation means that a buyer or seller is not responsible
for the acts of the licensee. Additionally, parties are giving up their rights to the
undivided loyalty of the licensee. This aspect of limited representation allows a licensee
to facilitate a real estate transaction by assisting both the buyer and the seller, but a
licensee will not work to represent one party to the detriment of the other party when
acting as a transaction broker to both parties.
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The TopTeam as your Buyer Broker:
1- Buyer should be Pre-Qualified or agrees to make a mortgage application
with a lender. Broker will assist in searching for the best loan programs and will relay
the information to the Buyer. We can then focus our search to properties that are within
your actual financial parameters.
2- We will devote the time, effort and expense of helping you find the
right property. Buyers sole obligation is to make any Purchase Offer on any real estate
through Charles Rutenberg Realty, Inc. however, the Buyer is not obligated to buy any real
estate.
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