How to buy property in Florida

Whether you plan to buy next week or next month, before starting the purchase quest ask yourself, "Who really represents me in the purchase?"

Who is a buyer's agent?
Just as home sellers hire listing agents to market their homes to the largest number of potential buyers, such as through the local multiple listing service and on the Internet, home buyers also need somebody looking out for their best interests. That person is known as a "buyer's agent."

A true buyer's agent represents only the home buyer in the purchase transaction. The job of a buyer's agent is to look out for the buyer's best interests, putting emphasis not only on the benefits but also the drawbacks of a prospective home purchase.

I am a buyer's agent, and am willing to work right here, right now, for FREE. So how do I get paid you ask?

Payday for buyer's agents
Whoever pays the sales commission (the person selling the home) usually offers a set percentage rate, then once the house is sold half of this commission goes to the buyer's agent, so it is actually the seller paying out of their proceeds from the sale.

There is a very practical reason for this legal result. When a home sale closes, the seller winds up with the cash and is in the best position to pay the sales commission to the listing agent. If a buyer's agent produced the successful buyer, the custom is for 50 percent of the sales commission to then be paid by the listing agent to the buyer's agent. The net result is that working with a buyer's agent costs a home buyer nothing extra, and gives them more control and knowledge about purchasing a property.

Finding a good buyer's agent
One way to find an agent is to seek recommendations. Friends and business associates who have recently bought homes will gladly recommend their buyer's agents if they were satisfied with the service. I can also act as your buyer's agent (read testimonials here from those who have purchased home with me acting as their buyer's agent).

(Be sure to disclose to any listing agent you meet that you are already represented by your own buyer's agent. )

To avoid agency confusion, most states now require realty agents to disclose in writing who they represent in the home sale. If you are not clear on this issue, be sure to ask before signing any paperwork.

Conclusion
Just as home sellers have their listing agents, home buyers need their buyer's agents to look out for their best interests. To avoid confusion over who represents whom, most agents will gladly present a written agency disclosure form to both buyers and sellers.

The bonus of using Lisa Warren as your buyer's agent - I am also a licensed Mortgage Broker, and can assist you with your financing needs, as well as your individual needs as a home buyer.