Florida’s warm climate, vibrant culture and community, plus abundance of beautiful properties make it a top destination for those looking for their dream home. However, buying a home – especially for first timers – is rarely a simple matter.
Unless you have extensive experience in the real estate industry, you risk making expensive and time-consuming mistakes during the purchasing process.
First-Time Homebuyer Tip: Know these 4 Common Agent Relationships
To protect your interests and get the most value for your investment, getting an agent to represent you is a wise decision. But first, you need to know the four most common agent relationships you’ll encounter in Florida:
- Transaction Brokers
These are independent agents whose sole goal is to close a sale between a buyer and a seller/real estate agent. They have no vested interest in either party. While a neutral agent does have its benefits, you want someone who’s focused on your own interests, not in theirs.
- Seller’s Agents
It’s in the name – these agents are all about protecting the sellers. Their goal is to get a fast sale and negotiate the highest price and most favorable terms for the seller.
- Buyer’s Agents Who Work in a Listing Office
While these agents take the buyer’s welfare into consideration, they are ultimately loyal to the listing office they work for. This conflict of interest is not something you want in such a massive, long-term investment like purchasing a home.
- Buyer’s Agents
Now, these agents are all about you, the buyer. Every step they take is on your behalf – from negotiating a fair price, uncovering potential issue such as closing costs passed on to your and undeclared repairs – they always have your best interests in mind.
Having a buyer’s agent working for you is an excellent way to protect yourself as a first-time homebuyer, but there are more measures you can take. Stay tuned for more expert tips in this webinar!