BUYER
BEWARE IN FLORIDA – IF THE SELLERS DON’T GET YOU YOUR AGENT MIGHT! SPECIFICALLY,
KEEP AWAY FROM KEYES REAL ESTATE
Charles Hanes
Feb. 11, 2009
Now here’s about the worst I’ve
seen! As a professional “Buyer’s Agent” my services are absolutely FREE
to my clients so when I started researching the Florida market for myself and a bunch of
my clients who are interested in Florida investing as well as some for winter homes I
thought I should verify that the same rules apply down there.
Guess what! They don’t! Not only are Realtor’s services NOT FREE
down there some agencies are far more egregious in their fees than others. All real estate
companies that I’ve researched in Florida
charge “administration fees”, as if the commissions charged aren’t enough!
These “Administrative Fees” (sometimes explained as file fees I’ve learned
– as if it costs so much to keep files) usually run around $300 per end (the buyer
pays $300 and the seller also pays $300, or there abouts).
Keyes Real Estate, proved hands down the most egregious. What floored me was not the fees
as I’ve already said all real estate companies appear to hit you for the same nickels
and dimes but the provisions that they hide in the late details of the agreement
documents.
A picture is worth a thousand words so click here
to see the paragraph that stunned me. I can’t for the life of me understand why this
clause would appear in an Agreement of Purchase and Sale and I certainly cannot imagine
anyone agreeing to have a Realtor represent them with a clause like this in the body of
the agreement.
Basically what Keyes is saying here is that “even if their ‘agent’, due to
NEGLECT OR INTENTIONAL CONDUCT OR OTHERWISE should become liable to the client
(“you”) that Keyes’ liability will be limited to $250!
Say again!!!! So you are buying a million dollar property and advancing a deposit of, say,
$100,000 (remember that’s $120,000 Canadian at present) Keyes feels it appropriate
that their liability be limited to $250!
I guess “agency” means something else in America. In Toronto we have
“Errors and Omissions Insurance” that is mandatory for all Realtors so if an
honest error (hey, stuff happens) then the client is fully protected. We also have a Code
of Ethics that does not allow Realtors to damage a client through INTENTIONAL CONDUCT. |
|
|
tell you, I discovered this hidden clause in “Paragraph 21” of their 8 page
offer over 2 weeks ago and still, every time my mind wonders back to it I become
exasperated! Can you imagine a company limiting the damage to you by it’s employee to
$250.
So, the reader’s digest version of this is to not just walk out and find an agent in
Florida to represent you (it is my feeling that with this clause in there they are saying
they don’t really represent your interests at all) you are putting your head into the
lions mouth and if the lion is hungry enough you can kiss your head good by and don’t
expect any recourse.
This seems to be unique to Keyes or at least they are the only ones that I can find hiding
behind such unprofessional verbiage.
When you become my client, you get full benefit of protection and my services don’t
cost you a dime. I’m putting together my team of Affiliate Realtors in each key
Florida market this spring and you can rest assured, based on this clause that none will
be working with Keyes Real Estate.
If you are considering a Florida
investment simply Register with me
and you can rest assured that your best interests will be fully protected. Oh, we
won’t be able to avoid the administration fees but I’m happy to pay them for you
out of the conventional referral fees I receive out of the conventional commissions.
Whether in Toronto or any one of the
markets that I refer you to in Florida
you can always rest assured that I (and my certified simplycondos.com
affiliates) am there to protect and look out for your best interests.
I look forward to working with you. Later. Charles Hanes |
