Why Do You Want and Need a Buyer's Agent? In Florida, most real estate agents act as "transaction brokers" -- which means their highest loyalty is to the transaction and not to you their client. By having a "single agent" buyers agent you get my complete loyalty, confidentiality, freedom to give you honest advice, and fiduciary responsibility. You want an agent who works for you not for the "deal." You want an agent who is a full member of your team with undivided loyalty. You want a trusted advisor who believes in developing a long-term relationship --not someone just out to make a buck To have a loyal advisor who can be your trusted partner -- You need a Buyer's Agent. You need the Lissack team. Service and Integrity Matter.  See what past clients have to say about the Lissack Team. What Additional Services Do You Get By Having Your Own Buyer's Agent? Seller's Agent Buyer's Agent -- The Lissack team Can show you all the homes in the MLS (Multiple Listing Service). Will show you all the homes in the MLS, For Sale By Owner properties, foreclosures, even properties that are not on the market! Can tell you the price the seller's are asking for homes but cannot suggest an offering price. Will calculate the fair market value of the home for you, and assist you in developing an offering price by using comparable sales data. Can provide "raw" information on comparable homes that have sold in the area. Not allowed to interpret that data for you. Will provide and interpret information on comparable homes that have sold in the area and help you formulate an offering price and negotiating strategy. Can convey your offer to the seller or their agent and convey their response back to you. Will negotiate on your behalf through the entire home buying process offering advice and information every step of the way. Can provide you with a "list" of title companies, home inspectors, and other professionals for you to choose from but cannot recommend any particular company or professional. Will recommend title companies, inspectors, and other professional services you will need. May tell you some general information about the seller. Can tell you everything they can find out about the seller and their motivation for selling. Must tell the seller everything they know about you, your financial status, and your motivation for buying. Will keep any information about you confidential if it would weaken your negotiating position. "Thinks" in Seller's terms (i.e.: Get the highest price possible for the home) "Thinks" in Buyer's terms (i.e.: Get the lowest possible price and best terms for the Buyer, not the Seller). Fiduciary Duties Of A Real Estate Agent A real estate broker who becomes an agent of a seller or buyer is deemed to be a fiduciary. Other examples of fiduciaries are trustees, executors, and guardians. As a fiduciary, a real estate broker is held by law to owe specific duties to his/her principal (the person who they are representing), in addition to duties or obligations set forth in a listing agreement, buyer representation agreement, or other contract of employment. Subagents of the broker also owe the same fiduciary duties to the broker's principal. These specific fiduciary duties include: Loyalty Obedience Disclosure Confidentiality Reasonable Care and Diligence Accounting Loyalty One of the most fundamental fiduciary duties an agent owes to the principal. The duty obligates a real estate broker to act at all times, solely in the best interests of the principal, excluding all other interests, including that of the broker. An example of breach of loyalty is when a broker purchases a property listed with his/her firm, and immediately resells it at a profit. Such conduct is usually considered appropriate and lawful by persons who act at arms length, but a fiduciary would be considered to have stolen an opportunity for profit that rightfully belongs to the principal. Sellers Agent Buyer's Agent -- The Lissack team Must do everything possible to gain an advantage for the Seller. Must do everything possible to gain an advantage for the Buyer. Obedience An agent is obligated to promptly and efficiently obey all lawful instructions of his/her principal that conform to the purpose of the agency relationship. However, the duty does not include an obligation to obey unlawful instructions, such as instructions to not market a property to minorities or to misrepresent the condition of a property. Sellers Agent Buyer's Agent -- The Lissack team Must obey all lawful instruction of the Seller, is not obligated to obey instructions from the Buyer. Must obey all lawful instruction of the Buyer, is not obligated to obey instructions from the Seller. Disclosure An agent must disclose to the principal all known relevant and material information that pertains to the scope of the agency. The duty includes any facts affecting the value or desirability of the property, as well as any other relevant information pertaining to the transaction, such as the other party's bargaining position, the identity of all potential purchasers, information concerning the ability or willingness of the buyer to offer a higher price, any intent to subdivide or resell the property for a profit. An agent's duty of disclosure to his/her principal must not be confused with a real estate broker's duty to disclose any know material facts about the property value to non-principals. The duty to disclose known material facts is based on a real estate broker's duty to treat all persons honestly. The duty of honesty does not depend on the existence of an agency relationship. Sellers Agent Buyer's Agent -- The Lissack team Must reveal any known material defects in the property. Must NOT reveal information about traffic problems, poor school system, declining property values, etc. since these items might make the property less desirable to Buyers. Must tell Buyer everything they can find out about the Seller including the motivation for selling and any reasons the Seller may have for wanting a quick sale. Must tell Buyer everything they can find out about the property, including traffic problems, poor school system, high crime rates, etc. Confidentiality An agent is obligated to safeguard his/her principal's lawful confidences and secrets. Therefore, a real estate broker must keep confidential any information that may weaken a principal's bargaining position. The duty of confidentiality precludes a broker who represents a seller from disclosing to a buyer that the seller can, or must, sell a property below the listed price. Conversely, a broker who represents a buyer is prohibited from disclosing to a seller that the buyer can, or will, pay more than what has been offered for a property. The duty of confidentiality does not include an obligation by a broker who represents a seller to withhold know material facts about the condition of the seller's property from the buyer, or to misrepresent the property's condition. To do so constitutes misrepresentation and impose liability on both the broker and the seller. Sellers Agent Buyer's Agent -- The Lissack team Must tell the Seller everything they can find out about the Buyer, including all financial details they can obtain. Must conceal anything about the Seller that would help the Buyer gain an advantage, such as impending foreclosure, need to move in a hurry, need to sell to settle divorce, etc. Must keep all information about the Buyer confidential, including the Buyer's ability or willingness to pay more for the property than they are offering as well as the Buyers motivation for buying. Reasonable Care and Diligence An agent is obligated to use reasonable care and diligence when pursuing the principal's affairs. The standard of care expected of a buyer's or seller's real estate broker is that of a competent real estate professional. By reason of his/her license, a broker is considered to have skill and expertise in real estate matters superior to that of the average person. As an agent who represents others in their real estate dealings, a broker or salesperson is under a duty to use superior skill and knowledge while pursuing the principal's affairs. However, no broker is expected to perform tasks or know information outside the scope of his/her real estate license. Real estate licensees are not expected to perform services normally provided by engineers, lawyers, accountants, or other professionals. If concerns arise outside the scope of a broker's responsibility, the broker should acknowledge that and suggest that the principal seek assistance from a reliable outside source. Sellers Agent Buyer's Agent -- The Lissack team Must prepare themselves through education and study to competently represent the Seller in all matters. Must prepare themselves through education and study to competently represent the Buyer in all matters. Accounting An agent is obligated to account for all money or property that belongs to his/her principal entrusted to that agent. The duty compels a real estate broker to safeguard any money, deeds, or other documents entrusted to them relative to their client's transactions of affairs. Sellers Agent   Buyer's Agent -- The Lissack team Must account to Seller for any money or documents entrusted to them. Must account to Buyer for any money or documents entrusted to them.