Why Buy Your Home Through Us?

How would you describe a real estate broker, buyer's agent, or associate? Is it a person that hauls you around in their vehicle for uncontrollably long periods of time and shows you properties that do not even resemble what you had initially described? Someone who, in any other circumstance, you would normally avoid, who talks incessantly about subjects in which you have no interest, and even drives terribly? Or is it a person who is pleasant, knowledgeable about the vacation home market, and saves you time by providing valuable information? When you understand that the services of a buyer's agent actually cost you nothing (except grief and time if you get the wrong one), then you can see that it is certainly to your advantage to have a good agent working for you. Are their services really free? Yes, but only to the buyer. The seller is the one who pays the real estate commission. That commission can only be paid to a licensed real estate broker. If you do not use a broker, then the listing agent or developer will realize more profit by not having to pay out the commission amount reserved for the buyer's agent. The seller's broker would actually then be acting as both the listing and selling broker, and thus collect both halves of the commission. Wouldn't it make sense to have a knowledgeable real estate consultant in your corner with only your interest in mind? Consider these reasons to let us help you find your home:

1. Our services are free to you as we are compensated by the seller you choose.
   
   
2. We will reimburse you for travel expenses at closing ($1000 for a new property, $500 for a resale), or split developer bonus commissions which you can use for furniture, etc.
   
   
3. We have over twenty years of experience exclusively specializing in the Orlando vacation home market, which means we have well established relationships with companies to provide financing, management, furniture packages, and many other services.
   
   
4. We provide a valuable base of knowledge to our clients in the form of a free booklet: Your "How To" Guide for Buying an Income Producing Vacation Home in Orlando, Florida.
   
   
5. Clients who buy through us have exclusive access to select management and reservations services for their home.
   
   
6. All of our associates are licensed by the state of Florida and are members of the Orlando Regional Realtors Association. They all subscribe to the Multiple Listing Service and will provide every client the opportunity to purchase any property listed for sale in Orlando, whether it is new or a re-sale.

In the case of a new home purchase, even the developer's sales person will usually make more money if they have no buyer's broker to pay. So the critical issue here isn't whether or not to use a broker, it's how to find a good broker. A friend may have already recommended a broker that they enjoyed working with, or you may want to do some research to find one yourself. You may want to start your search by referencing the yellow pages for companies that specialize in vacation homes. But, once you have contacted a broker, do not just set an appointment to see homes! I said this is where you start your search, not finish it. Speak to the individual that you will actually be working with to determine if they are experienced, knowledgeable, and most importantly, a personality that meshes with your own. If you are not reasonably sure that you have the right person, keep looking. There are plenty of agents to choose from and the wrong choice can cost you time and money.

Here are the most important, the "big 5", questions to ask a prospective agent:

1. How long have you been in the real estate business?
   
   
2. Do you specialize in income producing vacation homes?
   
   
3. Are you or your company affiliated with any particular management company, mortgage company, or development?
   
   
4. Are you a Realtor (a member of the National Association of Realtors)?
   
   
5. Can you supply client references?

Here are the reasons why you don't want to miss the big 5:

1. How long have you been in the real estate business? Even if a new sales person (less than a year in the business) has the best training in the world from his experienced broker, he most likely has not yet developed the ability to read between the lines when dealing with individual sellers or developer's agents. It takes years of experience (the more the better) to be able to anticipate how a particular seller will react to an offer. An experienced associate can be the difference between getting an acceptable deal and getting a truly great deal.
   
   
2. Do you specialize in income producing vacation homes? If an associate does not specialize in income producing vacation homes, then they are going to have gaps in their knowledge due to spending time on other real estate pursuits. That can be costly to you. They want your business and will try to convince you that they are competent. But how could they stay on top of changes in this specialized market if they are not in constant communication with developers and other vacation home sellers? If I told you Dr. Barton was a noted surgeon at a world famous medical facility, would you be opposed to having him perform heart surgery on your loved one? I certainly hope that your next thought is, "what is Dr. Barton's specialty?" He could be the best foot specialist in the world! I think you get the point.
   
   
3. Are you or your company affiliated with any particular management company, mortgage company, or development? You must trust a broker to find the most advantageous situation in regards to your home search, financing choice, and management company selection. You need them to be totally objective. If they are going to be more heavily compensated to recommend a particular management company, mortgage company, or developer, you need to know that up front. If you feel that advice from this broker may not be totally objective, then by all means, keep looking.
   
   
4. Are you a Realtor? The National Association of Realtors is an organization that proudly promotes the standardization of ethics and competence within the industry. A Code of Ethics that is enforced by the Board of Realtors binds members. "Realtor" is a title that signifies current membership in the organization. Regional member organizations provide valuable training and resources. They also provide members with access to a complete inventory of homes listed for resale, called the Multiple Listing Service (MLS). If a broker or associate is not a "Realtor" they will not be able to search the MLS, list a property on the MLS, or refer to themselves as Realtors. Be forewarned that non-members will often refer to themselves, incorrectly, as Realtors. Be specific, and ask if their brokerage has access to the MLS directory. If they do not, there is a valuable link already missing from their service.
   
   
5. Can you supply client references? If your broker or associate is unwilling to give you references, keep looking. Although it is true that a broker would prefer to avoid hassling his satisfied clients, he should at least be willing to provide contacts for you. Keep in mind however - it is unlikely a broker will refer you to someone who is dissatisfied, so actually calling them may be a waste of time. The initial reaction to the request is the main thing you are looking for.

The following are less critical questions, but will give you some idea about how the broker/associate will be to work with:

1. How long should it take to preview homes?
   
   
2. Describe your typical home preview tour.
   
   
3. How will you determine which homes to show me?
   
   
4. What do you expect of me on this tour?

If your prospective broker/associate stumbles on these questions, he may be an inexperienced rookie…keep looking. A good broker/associate who has a lot of experience may be surprised at the insightfulness of your inquiry, but will nonetheless answer honestly, and the answers should be something like this:

1. How long should it take to preview homes? They should have a plan and know roughly, within an hour or two, the amount of time that it will take to see the properties they have in mind.
   
   
2. Describe your typical home preview tour. Again, they should easily be able to tell you the general plan for the tour. Most Realtors have a preferred tour route. For example, I like to show my clients the most affordable homes (per square foot) first, so that they can establish a value base of comparison to more expensive homes. If your Realtor is just going to drive and stop here and there, hoping that he can stumble on something that you like, you stand a good chance of being totally confused by the end of the day. You can see that their answer to this one question gives you some insight into their competence.
   
   
3. How will you determine which homes to show me? Your Realtor should initially be planning to show you properties that match your preferences. A good Realtor may continue to explain that after showing you a home, they will ask you what you liked about the house and what you did not like (or something to that effect). If they fail to ask your opinion of the home that you just previewed, they may be lacking sales skills. When a Realtor lacks sales skills, potential clients may be driven indiscriminately to as many developments as possible. This aptly named "shotgun approach" can waste a lot of valuable time. Possibly, the Realtor is not asking those questions because he or she is not familiar enough with the market to know what competitive properties offer.
   
   
4. What do you expect of me on this tour? If you are talking to a less than qualified Realtor, they may expose their pushiness on this question, which will save you from suffering through a miserable experience. A good Realtor will expect you to help them determine what you really want, so that they can guide you in narrowing down the prospects. They will also communicate that in the end the choice of what to buy, or if to buy, is totally up to you.