Realtor Representation
Buying a Vacation Home In Orlando

In August 2024 sweeping new legislation to national real estate laws in the United States dramatically change how licensed real estate agents must interact with prospective buyers and sellers. As a consumer, these new laws are designed to provide clarity on costs and commissions related to your representation and require full disclosure of all payments your agent & agent’s brokerage receives as part of the real estate transaction from you or by any other party.

In another major change, licensed agents are no longer permitted to show directly, by video, website link or discuss individual property with a prospective buyer unless we enter into a representation agreement. Agents can discuss items regarding the buying, ownership, management, and potential locations such as resorts and communities.

To allow you the best advice and professional licensed representation, you should carefully select a brokerage that you feel best understands your personal and financial objectives and request they represent you in your search and purchase of a vacation home in Orlando.

The representation agreement will allow your agent to discuss specific property, allow them to show property directly or through media and also to discuss options with other agents, create contracts and make offers to purchase property.
The representation agreement will also disclose the financial commission and how that will be paid to your agent.

Every licensed agent must follow these rules or risk losing their real estate license.

At the Jerry Barker Group, we have always provided clarity in real estate costs, have always requested a representation agreement and do not take undocumented referral fees from third party vendors. We are delighted these new rules have been implemented and will be enforced.
We truly believe this will make a substantial improvement to representation overall and that our industry will be much the better for it.

Please request our representation agreement. We are ready to represent you and make sure you are given the services you deserve in this important investment.

What is representation in the USA.

Having representation when buying property in the USA can be very different from the UK, Canada or many other countries.

Import Items

USA – International Differences.
The single most important difference between the USA and many other countries is that in the USA we mainly use a two agent system – one who represents the seller (known as the listing or sellers agent) and one who represents the buyer (known as the buyer’s agent). Both parties have representation in the sale process. One agent can represent both the buyer and the seller (called a transaction broker) that we will address later.

Two Agent System.
The two agent system works because in the USA most properties are made available to all Realtors via the MLS.
The MLS is like a big property warehouse where every property for sale is listed and updated to give an immediate interactive vessel which a Realtor can search to help locate the most suitable property for you. Unlike the UK for example where buyers have to visit all the real estate agent offices in the location they are looking to buy in and work with each real estate agent individually – in the US you only need to find one Realtor you like and trust and he can find you any property, gain access and negotiate on your behalf to help you acquire a property.

What does all that mean to you as a buyer?
Your first priority is to find an agent that you like, trust and has your interests in finding you the most suitable property and is able to negotiate a contract that results in the vacation home of your dreams. You should also take into consideration how they will represent you after the sale.

If you are intending to utilize your property as a business within a short term rental program your Realtor should put together a plan to allow you to be successful. This may turn out to be far more important than the buying process as many short term rental homes falter because they are not set up properly through bad advice or mismanagement.
Find yourself a Realtor who understands the business side of owning a vacation home and who can educate you on all aspects.

Shop Around.
Talk to as many Realtors as you like, get to know them and make your decision based on trust, their knowledge and experience. This may be the most important investment decision you will make. You should feel confident the Realtor you choose knows and can handle the complexities of both the purchase and the business aspects.

This person (or business) who oversees and handles all this for you will ask for only one thing from you in return – your loyalty.
They may have to work for you for many months, giving much time, knowledge, expertise, their honestly and loyalty without any guarantee of as much as a penny in return.

If you want the best representation from an experienced and knowledgeable expert, then tell the Realtor you are working with – “I’d like you to represent me in this transaction”.

What does representation mean?
Representation means you work with only one Realtor. If you meet or discuss real estate with anyone else you tell them you are already working with a Realtor. Proudly tell them your Realtor’s name and let them know your Realtor will be in touch with them regarding additional information – they will respect you all the more.

So to summarize, take your time to find someone you like and trust and give them your undivided loyalty. A good Realtor should assist you in buying a property rather than trying to sell you one so be candid and explain exactly what you’re looking for so he or she has the tools to serve you best.
You will have to sign a representation agreement before looking at property.

Having completed hundreds of contracts and dealt with thousands of unique issues that in many cases a buyer need not to know about we’ve learned that all transactions are complex and there are ALWAYS items that need to be properly resolved.
Sometimes the best representation is those you hear least from!

If you lose the vacation home of your dreams, your deposit or end up in a legal battle after the purchase because of the inexperience or negligence of your representation it will be too late to reverse.

Ask
How many vacation homes have you sold?
How long have you been licensed?
Do you have testimonials?
Have you sold homes in the resorts I am looking to buy in?
What’s your policy for transfer of the business elements to me if the home I like is already in a rental program?
Ask them to give you a run down on their experience.

Don’t accept they know what they are doing.
Ask questions and MAKE SURE YOU HAVE GOOD REPRESENTATION!