Delray Beach, Apr 19, 2019 (Issuewire.com) - When a seller wants to sell a property in Florida, they negotiate a commission rate and sign a contract with a Florida real estate agency - agreeing to pay a commission fee when the property is sold. A property is considered "sold" at the final step in a real estate transaction, known as the closing, or settlement.
Once a buyer finds a property of interest on the Internet and calls the agent/agency listed for the property, the buyer is actually calling the seller's agent - ONLY interested in negotiating the highest price for the seller.
Seller's agents love to deal directly with a buyer, as buyers do not have the knowledge or gambits to negotiate the lowest price possible.
If the seller's agent can sell the property directly to the buyer, the seller's agent does not have to share the 100% commission fee with a buyer's agent. Therefore, it is unlikely that a seller's agent would inform a buyer that they represent the seller.
When a buyer unknowingly deals with a seller's agent, buyers incorrectly assume that they are represented by the person they initially contacted (the seller's agent) - and are unaware that they end up paying a premium for their property.
Buyers have an ADVANTAGE:
- When they first engage a buyer's agent to represent them and interact with the seller's agent. A buyer's agent costs the buyer nothing - since a buyer's agent earns their income from commission fees paid by the seller at closing.
- When their buyer's agent only represents the buyer's interests and serves as intermediary with the seller's agent to negotiate the lowest price for the buyer.
For more insights on how to buy Florida real estate in 2019, see INTERNATIONAL BUYERS GAIN ADVANTAGE OVER FLORIDA PROPERTY SELLERS
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