David Barr's Sarasota and Venice Real Estate Blog

When you're working with me as your real estate agent in Sarasota, Venice, or Lakewood Ranch, the state of Florida treats our relationship with customers differently than you may be used to in your current state. In Florida, real estate agency (relationship or representation) with customers is by default termed as a "transaction brokerage relationship". A transaction broker provides a limited form of representation to a buyer or home seller, but does not represent either in a fiduciary capacity.  In other words, when you hire me to buy or sell, we do not act as a single legal entity, for which you can be sued for my actions, or I can be sued for your actions.  Transaction broker duties (which most customers expect anyway) are: Dealing honestly and fairly; Accounting for all funds (such as escrow deposits); Using skill, care, and diligence in a transaction; Disclosing all known facts that may affect the value of residential real property which may not be rea...

Sarasota's real estate market is facing low inventory and high demand.  There very well may be multiple buyers interested in the same property.  How your Realtor handles offers and negotiates on your behalf is key to your success. I advise my clients that I negotiate on their behalf from a position of confidentiality.  Information is power, and information in the hands of the other party can be used against you.  Things like the reason for selling, personal financial issues, deadline dates such as the sale of another property, and family issues such as divorce, can hurt you in a price negotiation. I also negotiate from a position of leverage.  Leverage is gained by being prepared and learning the motivations of the other party.  While I advise my customers not to divulge information to the other party, I have no trouble asking a lot of questions to get the other party or their agent to talk too much.  Buyers often have an emotional reaction t...

I recently had interviews with potential home buyers, and one of their questions was why hire a buyer's agent when they can work with a "local expert" agent who lists homes in a particular geographic area? My primary answer is that these "local experts" may not have the critical experience of working with buyers in other geographic areas.  A experienced buyer's agent will show buyers different areas they may not have considered that meet their criteria, and contrast the nuances of these neighborhoods to give a home buyer the best range of options. Listing agents who don't work with many buyers don't seem to understand buyer's needs.  For instance, today I'm scheduling 11 showing appointments for a buyer who needs to maximize their time.  Listing agents need to utilize the technology of the "Show Button" in our MLS.  If the property is a vacant REO, why do I need to call someone in Kansas City to schedule an appointment?  Put th...