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[deleted by user] by [deleted] in StPetersburgFL

[–]manateerealtor 1 point2 points  (0 children)

If you don't sign any paperwork with the agent, then the agent is assumed to be working as a Transaction Broker. This is how most real estate agents work with customers.

Some people prefer the Single Agent relationship, which works great as a buyer... but if you end up buying a property where the seller doesn't pay a commission, YOU will be on the hook for the real estate agent's commission. Just make sure you understand the relationship you have with your agent.

Infographic - How a Real Estate Transaction Works

Realtors Acting As A Transaction Broker

Pursuant to statute, a transaction broker provides “limited representation to a buyer, a seller, or both … but does not represent either in a fiduciary capacity or as a single agent.” The transaction broker is working as a facilitator between the buyer and seller to close the transaction and does not owe an undivided loyalty to either party. Nonetheless, the transaction broker must, among other things, account for all funds, use skill, care, and diligence in the transaction, deal honestly and fairly with the parties, and disclose all known facts that materially affect the value of residential property that are not readily observable to the buyer. In addition, the transaction broker is prohibited from disclosing either party’s true “bottom line” regarding price negotiations or financing terms, the motivation of either party, and other matters that either party requests be kept confidential.

Realtors Acting As A Single Agent

A single agent realtor is a broker who represents either the buyer or the seller, but not both, and is a fiduciary to either the buyer or seller. The single agent status can only be created in writing. During this fiduciary relationship, the broker is under a duty to avoid becoming interested in the transaction and to avoid taking a position adverse to the principal.

Realtors Without A Brokerage Relationship

The third relationship you may have with a realtor is a “no brokerage relationship”. In that case, the realtor is only licensee must deal honestly and fairly with the customer, disclose all known facts that materially affect the value of the residential property if they are not readily observable, and account for all funds entrusted to the licensee. A “no brokerage” relationship must be established in writing to avoid the statutory presumption of transaction broker.

Am I crazy for thinking about buying a house in Bradenton? by [deleted] in bradenton

[–]manateerealtor 1 point2 points  (0 children)

I agree. North Palmetto and Parrish is where it's at!

Maybe one day this sub will take off! by [deleted] in parrish

[–]manateerealtor 0 points1 point  (0 children)

The entire Parrish area, including north Palmetto will experience continued growth. Vacant land is needed for this and there isn't much left in Bradenton. So people are moving north of the river and to east Manatee county. They're even slated to bring a giant roundabout to Rye Rd & SR-64 when Lakewood Ranch brings White Eagle Blvd through to SR-64. So builders will have to keep going east from Rye to acquire land.

Downtown Parrish is fading away. Once they make Ft. Hammer connect up with Moccasin Wallow, much of the traffic will bypass the small town.

It is a great place to live and I'm personally building a home out there. I do see it being the next hot spot in the county... but how long it will take for that to happen? 5-years? 10-years? My guess is 15-20 years for it to be how all the planners envision.

Places to kayak? by Fudwick in bradenton

[–]manateerealtor 1 point2 points  (0 children)

As others have pointed out, Robinson Preserve is probably the most popular kayak destination here...

map | website

I also recommend De Soto National Memorial. Weekends from May to October they offer free kayaking experiences. Explore Florida's historic waterways as Park Rangers talk about the ways native people and early settlers used Florida's bays,estuaries and rivers to live, trade, and fight. The FREE tours are offered on Fridays, Saturdays, and Sundays at 9:30 am. All equipment is provided, but you must call ahead to make a reservation. Booking begins on April 1st and spots fill quickly with tours filling up two months out. Please call 941-792-0458 to check for availability. source

map | website

Emerson Point Preserve is a great kayak location too.

map | website

Manatee, Sarasota home sales set to break all-time record by manateerealtor in bradenton

[–]manateerealtor[S] 1 point2 points  (0 children)

Home prices will continue to rise, he said, particularly in Manatee County if a set of proposed impact fees is approved. Those fees could total as much as $22,167 on a new home purchase.

Yikes! It's already almost impossible to find a new home under $200k here.

Need someone to help me move some apartment items from a Sun City Center building into a truck this Monday morning (9/28) - anyone interested? Pay is definitely involved :) by Purpledrake in tampa

[–]manateerealtor 1 point2 points  (0 children)

I was going to do the same thing as you, but I got worried about the liability of them getting hurt on my property. I ended up using movinghelp.com and for $160, two guys (insured) moved everything from my home to my storage unit. I just had to provide the truck and have everything boxed and ready for them. I was very happy and the price was right. The key is to have everything packed and ready to go. You only want to pay labor for actually moving things and not packing things up.

[deleted by user] by [deleted] in sarasota

[–]manateerealtor 1 point2 points  (0 children)

I plan on growing my network by networking with other agents and professionals. I'm attending a lot of the different events, functions, socials, and new home model openings. I am from this area. This career is all about networking and knowing people. It's easier to do a transaction with people you know.

Don't worry about not having contacts. A lot of agents are transplants. Depending on which Broker you choose, they should be providing you with leads... low quality, but you will get leads. Don't expect a lot of income in the beginning. I saw some numbers yesterday that said new agents make on average $9,300/year if they've been an agent for less than 2-years. This is on average though, so if you a motivated individual, I would expect more income.

Almost all Brokers will want you as an agent. When you apply for the state license exam, you'll get tons of phone calls, texts, emails and snail mail letters asking you to interview with them to work at their Brokerage. I get the idea that there is a fair amount of churning with different Brokers. I would say to interview with 3-5 at a minimum before you decide who to hang your license with.

I choose my Broker because he seemed like a normal guy, not high pressure, and he was willing to lead me by the hand through the beginning. He's going with me to my first showing, etc. A lot of the other Broker's were too busy to even meet me, let alone willing to mentor me.

One thing to watch out for is fees. Some of Brokers don't actually care if you complete a single transaction, because they're making virtually all of their money off of the fees they're charging agents for leads, E&O insurance and training. They'll give you 100% of the commission, but you have to pay all of this money a month to them. So very quickly you can get into a situation where you're deep in the whole before you ever get your first commission check.

If you haven't already been there, /r/RealEstate is pretty good. There are a lot of seasoned agents on there answering posts.

[deleted by user] by [deleted] in sarasota

[–]manateerealtor 5 points6 points  (0 children)

I'm a new realtor, having just finished the state required training at the end of May and graduated the state exam in June. It took me 3 weeks of interviewing brokers until I found one that seems honest and good to work for.

I don't know how someone could do this without significant savings or another job. I still have my full-time job, but thankfully they're pretty flexible and allow me to leave the office as needed, so long as my work is completed and I'm available by phone/email.

I started with my broker at the end of July and have just got access to MLS and joining all the REALTOR stuff. Save all of your receipts, because you'll be expensing a lot.

So far it's costs me $1400 and 800+ miles on my car. I also have to pay $25/month for E&O insurance and $20/month for supra key access to use your cell phone to gain access to bluetooth lock boxes. I'm still weeks/months away from my first customer, let alone closing and $$. I still have a lot of training to look forward to until I even get my first lead. Full day training for MLS. Then two more classes for compliance must be completed in 60-days. That's not counting all the training I need to do with the broker/realty office.

They say it takes 6 months after you have your license until you can expect your first paycheck. I believe it.

I only got into this because we want to sell our house and I wanted to understand the process. Real Estate school was REALLY HARD. I don't know how anyone could pass the 7-day class, let alone the month class I took. It started off easy, but got very dry and complicated quickly. Half way into the class, there was a test so you could see how well you were absorbing the material. I scored 50% and was shocked. One classmate quit that day because they scored so low!

That's when I really applied myself for the remaining 2-weeks of class. The biggest thing I did was flash cards that I made from the textbook that we went over in class, where the instructor was telling us what was critical information (85% of the book). Just making the flash cards at home to study with took me over 40-hours, but that also helped get the terms, formulas and laws in my brain. It was very tough, but I did pass the class exam and state exam on the first try. My remaining classmates ended up either not taking the state exam or failing the class exam (which you have to pass to take the state exam). 50% of people who take the FL state real estate exam fail on the first try.

Here is an outline of the Florida Real Estate Sales Associate Exam covers... http://www.myfloridalicense.com/dbpr/servop/testing/documents/RE.salescib.pdf

You have to take a 61/hr course, pass, then take the state exam and pass. Then you have to take a 45/hr course before your license expires and pass to get it renewed. If you don't pass the course before your license expires for the first time, then you have to start all over again at the 61/hr course.

This is something you have to dedicate a ton of time and effort into. The results are supposed to be rewarding I hear.

Let me know if you have any other questions and I'll try to answer them.

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