Buyer Representation

On August 17, 2024 nationwide changes to real estate industry practices governing residential real estate buyers and their representation by licensed real estate agents were mandated. Below are “must-know” facts for any potential buyer of Naples area real estate.

  • All buyers must now sign a legally binding Buyer Representation Agreement before touring homes with their chosen agent, though some agents or brokerages may require it prior to the initial consultation.
  • The agreement is negotiable, covering the form of legal representation, services provided, compensation, duration, and more. If it expires without a purchase, it can be renewed, or buyers and agents can part ways amicably.
  • Legal representation types include Single Agency (representing you with full fiduciary duties), Transaction Brokerage (neutral facilitator), and No Brokerage Relationship (limited services, no representation). Transaction Brokerage is the standard in the State of Florida.
  • Agent compensation must be clearly defined and cannot be open-ended or tied to seller offers.
  • In most cases, sellers offer to compensate the buyer’s agent, which may fully cover agent or brokerage services. Seller concessions, such as contributions toward closing costs, can also be negotiated.
  • The agreement can be modified or terminated mutually, per its terms. Early termination may involve covering agreed-upon costs, such as consultation fees, depending on the agreement’s terms.
  • Exclusive agreements tie you to one agent for any/all purchases, while limited agreements, applying to specific listings only, may suit certain buyers.
  • Agents are prohibited from steering buyers based on commission amounts, ensuring unbiased property recommendations. If a conflict of interest arises, agents must disclose it promptly, follow ethical guidelines, and obtain your consent if dual representation is proposed.
  • Realtors® are ethically obligated to work in your best interest, guided by the National Association of Realtors® Code of Ethics and regardless of legal representation type.

Next Steps and Why Choose Me

  • Let’s talk! I will discuss your goals, address any questions you have, and review the representation agreement with you, to ensure your comfort.
  • Once we agree to move forward, we can begin exploring the best available locations, communities, and properties that match your interests, needs, and budget.
  • Why Choose Me as Your Buyer’s Agent? Working with me ensures you will have expert guidance, key market insights, negotiation expertise, and advocacy to protect your interests throughout the home-buying process. My specialty is helping buyers.
  • Considering hiring me? Please be certain to see my testimonials.

– Jeff

For much more concerning buyer representation please be certain to read the chapter dedicated to it in our Naples Buyer Guide.

Recommended Reading

2026 Naples Buyer Guide

Well-informed buyers make the best purchase decisions. Our 2026 Naples Buyer Guide is a comprehensive resource for any party interested in purchasing Naples, FL real estate.

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Do you have any questions? Would you like some assistance?

Contact us at any time. Helping buyers is what we do.

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