Sunday, May 2, 2010

Know Who Your Real Estate Agent Really Represents

When buying a house one thing you can do to put yourself at a disadvantage is to call the real estate agent or office listed on the sign out front!  

I am not casting character aspersions on any real estate agent or office as I am both a buyer and sellers real estate agent.

Listing agents (and their office) represent  the seller - even if you call them up!  

I always caution the same thing whenever folks are considering new construction properties.  The sales representative in the builder's model home represent the builder first and foremost!

Florida real estate laws prohibit dual agency (i.e. representing both sides to a real estate transaction in a fiduciary capacity).  This is not to say a single agent can not be the transaction agent working "for the transaction."   

The main thing  is to know up front who the real estate agent is looking out for in a fiduciary capacity.

This is not to be considered as legal advice in any way as I am not an attorney.