FLORIDA BUYER BROKER FEES
Sellers brokers pay buyers agent fees from the fees they receive from the sellers.
March 29, 2024: Contrary to some NEWS articles and YouTube videos regarding multiple lawsuits against the National Association of REALTORS® and the Florida Association of REALTOR® buyer brokers are not going away.
Buyers agents are here to stay!
Both organizations are offering professional training webinars without cost to ALL their real estate agent members. More REALTOR® members will have the opportunity to learn how to professionally represent buyers.
What is different is the listing agent can not longer advertise the amount of the shared commission in the REALTOR® MLS. The MLS is a database program used by agents to enter listings and search for properties.
As of July, 15, 2014 the National Association of REALTORS® NEW RULES will require the buyer to enter into a BUYER BROKER AGREEMENT before viewing a property with a buyers agent.
Most buyers do not have additional funds to pay their buyers agent fees.
Most mortgage companies do not allow the buyer broker commission to be included with the buyers financing cost at closing. Therefore, most sellers agents share a part of their commission to pay the buyers agent fees.
The NEW RULE makes it necessary for every buyer who works with a buyers agent (or transaction associate) who is also a REALTOR®, to negotiate the buyers agent fees BEFORE VIEWING A PROPERTY.
TO BE CLEAR, in Florida a Buyer Broker Agreement is a contract with the buyer to determine how much and how the buyers agent fees will be paid.
In Florida a Buyer Broker Agreement does NOT mean the buyer will receive the undivided loyalty and confidentiality of the agent unless the Buyer Broker Agreement is accompanied by the Single Agent Notice. The Notice is a disclosure which provides the buyer with the 9 Fiduciary Duties which buyer brokers must provide to their buyers.
Prior to scheduling any showings, Florida Buyer Broker will call the sellers listing agent and ask what the commission amount is which they are paying to the buyers agent. Florida Buyer Broker will let the buyer know what the amount is for each property they want to view.
Can the buyers agent fees be negotiated?
Yes, with Florida Buyer Broker the buyer can decide whether they need to renegotiate their Buyer Broker Agreement prior to viewing a property and or prior to making an offer to purchase a property.
Florida Buyer Broker may also negotiate the buyers agent fees with the seller broker.
The NEW RULE does not allow the buyer broker, who is also a REALTOR®, to accept any additional money, above and beyond what is agreed to in the terms of the Buyer Broker Agreement.
When you are going to make one of the most significant financial investments in your life … Ask Beverly Howe first!
Beverly Howe, Owner – Buyer Broker
Florida Buyer Broker™ 
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