Florida Real Estate

Homeownership comes with several tax benefits that can help reduce your federal income tax bill. Some of the key 2024 homeowner tax advantages( deductions and credits) available to homeowners include:

1. Mortgage Interest Deduction – You can deduct interest paid on your mortgage for your primary residence (and sometimes a second home) up to a limit ($750,000 for loans taken after Dec. 15, 2017; $1 million for older loans). Roby Online Casino has emerged as a popular destination for gamers seeking a thrilling online gambling experience. With a sleek interface and a variety of games, including slots, table games, and live dealer options, Roby has something for everyone. Players can enjoy a generous welcome bonus and numerous promotional offers that enhance their gaming experience. One standout feature is the casino’s commitment to user safety and security, ensuring that player data and transactions are protected. The website is also mobile-friendly, allowing users to enjoy their favorite games on the go. For more details about games, bonuses, and payment options, you can visit https://robycasinologin.com/. Overall, Roby Online Casino combines entertainment with security, making it a great choice for both new and seasoned players alike. Explore the exciting world of online gaming today!

   You will find a summary of your mortgage interest payments on Form 1098, which lenders send out around the end of January.

2. Property Tax Deduction – You can deduct up to $10,000 ($5,000 if married filing separately) in state and local taxes (SALT), which includes property taxes.

   Those who take advantage of the SALT deduction have to choose between income and sales tax – you can’t deduct both.

3. Mortgage Points Deduction – If you paid discount points to lower your mortgage interest rate when purchasing or refinancing, you may be able to deduct them.

4. Home Office Deduction – If you use part of your home exclusively for business, you may qualify for a home office deduction.

5. Energy-Efficient Home Credits – Homeowners who install energy-efficient improvements (like solar panels, insulation, or energy-efficient windows) may qualify for tax credits.  If you’ve installed new energy equipment to your home like solar panels, you may be eligible for the Residential Clean Energy Credit. That credit is worth 30% of the costs of new, qualified clean energy property that’s installed anytime from 2022 through 2032. There’s also the Energy Efficient Home Improvement Credit which covers upgrades that reduce home energy use. Improvements like insulation, central air conditioners and exterior doors may qualify. It’s a 30% credit up to $1,200 for changes made between 2023 and 2032.There’s even a credit available for installing electric vehicle recharging equipment at your home. The federal tax credit for EV chargers is worth 30% of the costs of the qualifying equipment, up to $1,000 per charging port.

6. Capital Gains Exclusion – If you sell your primary home, you can exclude up to $250,000 in gains ($500,000 for married couples) from taxable income, as long as you meet ownership and use requirements.

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8. Necessary Home Improvements – According to the IRS, an improvement must add to the value of your home, prolong its useful life or adapt it to new uses.  Generally, capital improvement expenses are depreciated over time, meaning the full cost of the change is divided by its useful life, and that’s the amount you can deduct in a given year.

This article should not be construed as professional tax advice. You need to consult with your professional tax advisor before filing your return.

Filed under: Blog, closing costs, Energy efficiency, Energy efficient homes, First Time Homebuyers, Florida Buyer Agent, Florida Exclusive Buyer Agent, Florida Real Estate, HELOC deductions, Home Buyer Advice, Home decorating, Homebuyer Advice, Mortgage Interest Deductions, new home construction, Real Estate Investment, Tax deductions by Kim Bregman
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Most people relocate to South Florida for a few reasons. Retirement, job opportunity, second home, tax savings, lifestyle, and to be closer to family to name just a few.

Relocating to a new state or region can feel overwhelming, especially when it comes to settling into an unfamiliar community. Whether you’ve moved locally before or this is your first big relocation, there’s more to it than just packing boxes and changing addresses.   Finding the right city or neighborhood will make all the difference in your satisfaction with your decisions.

Here are a few  key tips to help make the relocation transition smoother, from using online resources to connecting with locals, so you can start feeling at home before you even move.

If you have moved locally before, you know the bureaucracy that comes with every move:

• Change your address on your driver’s license and other ID
• Register to vote, if you are a citizen or becoming a Florida resident
• Move your utility services to the new location
• File a post office change of address
• Register your children in the local school
• Find new doctors…and more

Just like when you are moving locally, there will be lifestyle activities that you should explore before moving:

• What is the commute between work and home, school and home?
• Does the new location have access to activities you enjoy now?
• Where are the religious or social centers like those you belong to now?

How to explore potential places that I’ll enjoy in the new region.

Use Internet Resources: Start by seeking out the types of local information you rely on now, but specific to your new location.

Explore online news outlets like THE PATCH or local newspapers.  Join local social media groups, which often give a sense of the community. Just like in your current area, you’ll find a mix of people—some helpful, some not—but these groups can offer valuable insights.

Check out religious and cultural organizations that align with your interests. Their websites often list their mission and activities calendars, which can help you connect with like-minded people even before you arrive. Many also offer newsletters or online communication platforms that are great for staying in the loop. Research schools, crime statistics, demographic information, weather and more to fully understand how a move will impact your way of life.

Networking: Start by asking friends, family, or colleagues if they know anyone in your new area. Personal introductions can be invaluable in helping you get settled and learn more about your new community.

Pre-move Vacation: Consider spending a week or two in your new town or city to get a feel for the place. Use this time to meet with people who can assist with your move and try out activities you already enjoy—whether it’s sports, theater, religious services, hiking, or even attending a local event. Engaging in these activities will help you connect with locals and give you a sense of whether the area aligns with your lifestyle.

Consider a Two-Step Move: Evaluate whether it’s less stressful to rent for a year before buying a home. Each approach has its own benefits, costs, and challenges. Renting allows you to test the waters, while buying right away offers a sense of permanence—but either way, the decision should be based on your comfort level and finances.

Develop a Relationship with a Local Exclusive Buyer’s Agent: A local exclusive buyer’s agent is a valuable resource when moving to a new area. They have in-depth knowledge of the region and can guide you to community activities and resources that will ease your transition. Their expertise can help you navigate your home search while also connecting you with local networks.

Filed under: Blog, Boca Raton real estate, CEBA, Down Sizing, EBA, Exclusive Buyer Agency, First Time Homebuyers, Florida Buyer Agent, Florida Exclusive Buyer Agent, Florida Real Estate, Foreign Home Buyers, Home Buyer Advice, Home Buyers, Homebuyer Advice, International Home Buyers, Moving Apps, new home construction, Real Estate, real estate news, Relocation, Retirement, second home, South Florida Real Estate, vacation home by Kim Bregman
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With the recent “disasters” nationwide, it has become clear to me that very few homeowners understand that they need to ensure that their policies cover replacement cost for their homes.  To ensure that you can rebuild your house at the current market costs and codes, you MUST have replacement cost valuations and insurance coverages.

Whether you are dealing with missing tiles on the roof or a collapsed ceiling, knowing how replacement cost works can mean the difference between making do with quick fixes or restoring your home to its original condition.

Replacement cost is an option you usually choose when purchasing or renewing your homeowner’s insurance policy. It’s one way of valuing the property being insured – so it will affect how much your insurance pays out for a covered claim. Depending on the insurer and the policy you are getting, you may be able to choose replacement cost when insuring your home and roof (the dwelling itself), unattached structures (such as a shed, fence, detached garage, and pool), and your personal property (furniture, electronics, clothing, etc.).

Let’s say a hurricane sweeps through your neighborhood and leaves you with a seriously damaged roof. If your roof is covered at replacement cost in your policy, it means just what those words imply: Your roof will be covered for the amount of money it takes to repair/replace the damaged roof – using new material, of a similar kind and quality as your existing roof, without subtracting any depreciation based on the age and condition of your roof prior to the hurricane. In other words, replacement cost is about getting you back to the way things were, as if no storm had ever happened.

Choosing replacement cost in your home insurance policy for your dwelling and personal property is all about giving you enough to actually replace what you lost, whether it’s your roof, furniture, or the entire home.

How Is ‘Replacement Cost’ Different From ‘Actual Cash Value’?

While replacement cost gives you enough to rebuild or replace your items as new, actual cash value factors in depreciation. This means you’ll get the current value of your items – after subtracting certain amounts based on the property’s age, condition, and how outdated or obsolete it is at the time of the loss. The actual cash value approach might save you some money up front, on insurance premiums – but when it comes time to file a claim, it can leave you filling in the gap to fund repair costs

What About ‘Stated Value’?

Another valuation method is stated value. This is when you and your insurer agree on a specific value for your home or certain parts of it – such as your roof or certain high-value items – before any damage occurs. Then, when you make a claim, you’ll be reimbursed for the already agreed-upon value of the property. It’s a straightforward valuation method and it eliminates any haggling over depreciation during the claims process.

Why Replacement Cost Matters

In South Florida, natural disasters are a part of life. Between hurricanes, tropical storms, and the occasional fire, having the right kind of insurance coverage can make or break your ability to rebuild after a disaster.

With replacement cost coverage, you know you’ll have the funds to get back to normal. The difference in payout could run in the thousands to tens of thousands of dollars.  You need to evaluate your risk tolerance and financial ability to restore your property to determine which level of insurance coverage is best for you.

Filed under: Blog, Exclusive Buyer Agency, First Time Homebuyers, Florida Buyer Agent, Florida Exclusive Buyer Agent, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, Homeowners Insurance, Hurricane Preparedness, Insurance Claims, Real Estate, real estate news, South Florida Real Estate by Kim Bregman
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People relocate to South Florida for a few reasons; retirement, job opportunity, second home, tax savings, lifestyle, and to be closer to family to name just a few.

Relocating to a new state or region can feel overwhelming, especially when it comes to settling into an unfamiliar community. Whether you’ve moved locally before or this is your first big relocation, there’s more to it than just packing boxes and changing addresses.   Finding the right city or neighborhood will make all the difference in your satisfaction with your decisions.

Here are a few  key tips to help make the transition smoother, from using online resources to connecting with locals, so you can start feeling at home before you even relocate.

If you have moved locally before, you know the bureaucracy that comes with every move:

• Change your address on your driver’s license and other ID
• Register to vote, if you are a citizen or becoming a Florida resident
• Move your utility services to the new location
• File a post office change of address
• Register your children in the local school
• Find new doctors…and more

Just like when you are moving locally, there will be lifestyle activities that you should explore before moving:

• What is the commute between work and home, school and home?
• Does the new location have access to activities you enjoy now?
• Where are the religious or social centers like those you belong to now?

How to explore potential places that I’ll enjoy in the new region.

Use Internet Resources: Start by seeking out the types of local information you rely on now, but specific to your new location.

Explore online news outlets like THE PATCH or local newspapers.  Join local social media groups, which often give a sense of the community. Just like in your current area, you’ll find a mix of people—some helpful, some not—but these groups can offer valuable insights.

Check out religious and cultural organizations that align with your interests. Their websites often list their mission and activities calendars, which can help you connect with like-minded people even before you arrive. Many also offer newsletters or online communication platforms that are great for staying in the loop. Research schools, crime statistics, demographic information, weather and more to fully understand how a move will impact your way of life.

Networking: Start by asking friends, family, or colleagues if they know anyone in your new area. Personal introductions can be invaluable in helping you get settled and learn more about your new community.

Pre-move Vacation: Consider spending a week or two in your new town or city to get a feel for the place. Use this time to meet with people who can assist with your move and try out activities you already enjoy—whether it’s sports, theater, religious services, hiking, or even attending a local event. Engaging in these activities will help you connect with locals and give you a sense of whether the area aligns with your lifestyle.

Consider a Two-Step Move: Evaluate whether it’s less stressful to rent for a year before buying a home. Each approach has its own benefits and challenges. Renting allows you to test the waters, while buying right away offers a sense of permanence—but either way, the decision should be based on your comfort level and finances.

Develop a Relationship with a Local Exclusive Buyer’s Agent: A local exclusive buyer’s agent is a valuable resource when moving to a new area. They have in-depth knowledge of the region and can guide you to community activities and resources that will ease your transition. Their expertise can help you navigate your home search while also connecting you with local networks.

Filed under: Blog, Boca Raton real estate, Down Sizing, EBA, Exclusive Buyer Agency, First Time Homebuyers, Florida Buyer Agent, Florida Exclusive Buyer Agent, Florida Real Estate, Foreign Home Buyers, Home Buyer Advice, Home Buyers, Homebuyer Advice, International Home Buyers, Moving Apps, Real Estate, Relocation, Retirement, second home, South Florida Real Estate, Tax deductions, Uncategorized, vacation home by Kim Bregman
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A new Florida law requires people who sell their home must disclose to buyers if they’ve ever filed a flood insurance claim or received federal assistance related to flood damage. It currently applies to homeowners and excludes landlords.

Before HB-1049, property owners and real estate agents selling homes in Florida did not have to tell buyers about a property’s risk for flooding.

It is no secret that Florida has a history of extreme weather and flooding. Nevertheless, sellers were not required to disclose the flood tendencies and risks associated with their homes prior to October 1, 2024. Enter HB 1049, which bridges this gap by requiring explicit flood disclosures in real property sales.

Sellers must inform buyers of the following:

• Flood insurance disclaimer. The form clarifies that homeowners’ insurance does not cover flood-related damage and encourages buyers to secure separate flood insurance.

• Flood claims and assistance. Sellers must disclose whether they have filed claims or received federal assistance for flood damage, including from FEMA or the National Flood Insurance Program (NFIP).

For the purposes of the disclosure, the bill defines “flooding” as the general or temporary overflow of inland or tidal waters, surface water accumulation, or sustained standing water from rain.

Property insurance and flood insurance are two separate policies. I have always advised my clients to purchase flood insurance regardless of whether or not their home is in a FEMA designated flood zone. Weather in Florida is unpredictable and with climate change, more areas that never were prone to flooding can now be in a situation where there is historical rain fall in a short period of time.  Since we are at sea level, there is no place for the water to quickly disburse and will rise in the streets and lakes.

HB 1049 signals a change in the tides for the Florida real estate market, offering buyers a clearer view of potential flood risks and fostering much-needed transparency in residential property sales.

Filed under: Blog, Boca Raton real estate, EBA, Exclusive Buyer Agency, Flood Insurance, Florida Buyer Agent, Florida Exclusive Buyer Agent, Florida Real Estate, Florida real estate law, Home Buyer Advice, Home Buyers, Homebuyer Advice, Homeowners Insurance, Hurricane Preparedness, Insurance Claims, real estate news, South Florida Real Estate by Kim Bregman
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Renovations that make homeowners and residents of a home happy are always worth the investment. Though it’s certainly true that projects that create more functional, usable space and add comfort and convenience are worth the price, such renovations are even more beneficial if they provide a good return on homeowners’ financial investment ( ROI).

Returns on investment (ROI) are often cashed in when homeowners put their homes up for sale, and each year Remodeling magazine releases its “Cost vs. Value Report,” which considers a wealth of data across the United States to determine which renovations return the highest percentage of homeowners’ financial investment.

According to the “2024 Cost vs. Value Report,” the following are projects that provide a strong return on investment (ROI):

Enhance curb appeal:First impressions matter, so improving your home’s curb appeal can significantly impact its value. Simple upgrades such as landscaping, exterior painting, and installing a new entry door can make a substantial difference. According to industry experts, enhancing curb appeal can yield an ROI of up to 200%.

Garage door replacement:  The average job cost for this project is slightly more than $4,500 but the project is valued at $8,751, providing an especially high 194% ROI.

Steel door replacement: Remodeling magazine notes that a steel entry door replacement is worth double what it was worth in 2023. This project offers a 188% ROI on an average investment of $2,355.

Manufactured stone veneer: A manufactured stone veneer is a man-made product that appears as if it’s natural stone. Many homeowners prefer manufactured stone veneer to natural stone because of the price, as the former is less expensive and easier to install, which means lower labor costs as well. The comparatively low cost of manufactured stone veneer is perhaps one reason why it averages a roughly 153% ROI on an average cost of just more than $11,000.

Minor kitchen remodel: According to the “2024 U.S. Houzz & Home Study” from Houzz Research, kitchens were the most popular rooms to renovate in 2023. There’s no denying the appeal of a newly renovated kitchen, and homeowners considering such a project may be happy to learn that a minor kitchen remodel that costs an average of around $27,000 provides a 96% ROI.

Renovate bathrooms:Bathrooms are another high-impact area for home improvements. Remodeling a bathroom can provide a return on investment of around 81% for an addition and approximately 71% for a complete renovation.

Simple upgrades to bathroom fixtures can also go a long way in improving your home’s value. Consider replacing outdated faucets, showerheads, and toilets with modern, water-efficient options. This improvement offers a high return on investment and enhances your bathroom’s overall look and functionality.

Roof Replacement: A well-maintained roof is essential for any home and replacing an old or damaged roof can significantly increase its value. Additionally, a new roof provides peace of mind for potential buyers. Roof replacements offer a high return on investment, with homeowners recouping the entire cost.

Install Smart home and Home Security Technology: Smart home technology is becoming increasingly popular among homeowners. Integrating features such as smart thermostats, lighting systems, and security cameras can enhance the appeal and value of your home. Smart home features offer a return on investment of up to 10%.

Investing in smart home security measures will enhance your peace of mind and increase your home’s value. Upgrades such as motion sensor lighting and sturdy locks can make your home more attractive to potential buyers. Smart thermostats are becoming increasingly popular, as they offer several benefits, such as energy savings and remote control. Installing a smart thermostat can increase the value of your home by up to 3%.

When considering home improvements in Florida, focusing on projects that offer the best return on investment is crucial. Enhancing curb appeal, upgrading key areas such as the kitchen and bathroom, and investing in energy-efficient features are all smart choices. Strategic improvements can increase your home’s value and attract potential buyers in the competitive Florida real estate market.  Remember to consult with local professionals to ensure that you choose improvements that align with the preferences and needs of Florida homebuyers.

Filed under: 2024 real estate, 4 Point Inspection, Blog, Boca Raton real estate, EBA, Energy efficiency, Energy efficient homes, Florida Real Estate, home automation, Home Buyer Advice, Home decorating, home equity, Home Maintenance, home safety, Homebuyer Advice, Interior Design, Investment ROI, Real Estate, Real Estate Investment, Real estate trends, South Florida Real Estate by Kim Bregman
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As required by the recent National Association of Realtors Settlement Agreement, starting August 17th, 2024, all real estate brokers providing brokerage services to a buyer will be required to have the buyer execute an Exclusive Buyer Brokerage Agreement before touring any homes.

Buyers should know that after Aug. 17:

·      If you are a buyer and your agent is using an MLS, you will need to sign a written agreement with your agent before touring a home so you understand exactly what services will be provided and for how much.

·      Written agreements are required for both in-person and live virtual home tours.

·      You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services.

·      Agent compensation for home buyers and sellers continues to be fully negotiable.

An Exclusive Buyer Brokerage Agreement is a contract between a real estate broker and a potential homebuyer. Florida has 4 different variations of the Agreement. The Agreements differ by the type of representation provided by the Broker, including single agent, transaction broker, single agent with consent to transition to transaction broker, and no brokerage relationship. Under each Agreement, the buyer commits to working exclusively with the Broker in their search for a property in exchange for a commission paid by the buyer to the Broker, with certain caveats. In return, the Broker agrees to represent the buyer’s interests, providing professional advice, market insights, and negotiation skills to secure a contract for the buyer.

Florida’s Exclusive Buyer Agreements:

• Exclusive Buyer Brokerage Agreement–single agency:

This agreement may be used when a broker wishes to act as a buyer’s agent and be paid commission by the buyer. It establishes an exclusive, single agency representation with a buyer and provides for a retainer fee.

• Exclusive Buyer Brokerage Agreement–transaction agency: This form may be used when a broker wishes to act as a buyer’s agent and be paid commission by the buyer. It establishes an exclusive, transaction agency representation with a buyer and provides for a retainer fee.
• Exclusive Buyer Brokerage Agreement–no brokerage relationship:

This form may be used when a broker wishes to act as a buyer’s agent and be paid commission by the buyer. It establishes an exclusive, no brokerage agency representation with a buyer and provides for a retainer fee.

• Exclusive Buyer Brokerage Agreement–transition from single agency to transaction agency: This form may be used when a broker wishes to act as a buyer’s agent and be paid commission by the buyer. It establishes an exclusive, single agency representation with a buyer and provides for a retainer fee, with a right to transition into transaction agency.
• Showing Agreement (SA-3x): This form may be used to create a buyer’s commission agreement based on a one-time showing of property.

The form of representation a buyer or seller selects will bind the entire brokerage and not just an agent/licensee working at the firm. A buyer wanting single agent representation binds the entire brokerage to a single agent relationship.

Florida does not permit dual agency so if there is a home listed by the same firm, the single agent would have to slide back, with your consent, to being a transaction broker.

Many brokerage firms do not permit single agent representation as a company policy for several reasons. The possibility of selling “in-house” properties is hampered if single agency is utilized to any extent. Less talked about and a more significant reason why larger brokerages only all transaction brokerage is the fact that higher levels of service require a higher level of knowledge by all agents in their firm. The lack of experience is a source of higher liability to the brokerage.

Florida Statute Regarding Brokerage Relationships

Filed under: 2024 real estate, Blog, Boca Raton real estate, Buyer Compemsation, CEBA, EBA, Exclusive Buyer Agency, Florida Buyer Agent, Florida Exclusive Buyer Agent, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, NAR, NAR Legislation, Real Estate, real estate news, South Florida Real Estate by Kim Bregman
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Approximately 50% of Floridians live in communities governed by homeowners associations (HOAs), sometimes referred to a property owners associations (POAs).  These associations, which govern various aspects of community living, such as property maintenance and shared amenities, can provide numerous benefits but may impose certain restrictions on homeowners.

To make informed decisions while purchasing a home governed by a homeowners association (HOA), prospective buyers must be aware of the rules set forth by the HOA and how those rules interact with local ordinances and state laws.

One advantage of purchasing a property under an HOA is the access to various amenities. Many communities boast shared facilities such as swimming pools, clubhouses, fitness centers, tennis and pickleball, or spas, which may be included in the dues residents pay. Additionally, HOAs often are responsible for maintaining common areas to include, but not limited to, security gates, roads, lighting, sidewalks, landscaping, and exterior building maintenance, ultimately enhancing the overall neighborhood utility and aesthetics. A HOA may also have dispute resolution procedure in place to assist with conflicts between neighbors, management and more.

Living within an HOA-governed community might have certain restrictions related to architectural modifications or pet ownership. Additionally, fees required for upkeep and management could impact affordability depending on individual financial circumstances. Therefore, buyers should consider their desires for autonomy versus communal support while evaluating properties in association-controlled neighborhoods.

After considering the advantages and disadvantages of purchasing a home within an HOA community.  Should you decide that an HOA community is appealing to you, it is essential to go deeper into the specifics of the prospective association.  Thorough examination of the governing documents like covenants, conditions, and restrictions (CC&Rs), bylaws, rules and regulations, financial statements, reserve studies, insurance policies, and any other pertinent documentation will further evaluate if the specific community is where you want to make an investment in a home.

These documents will provide important information on architectural control guidelines, assessment obligations (including special assessments), dispute resolution procedures, rental restrictions, pet policies, parking rules, and maintenance requirements and more.

Here are some of the documents you need to request and review when reviewing an HOA in advance of purchase commitment.

Financials

Annual due and fees, special assessments, fines and fees and other budgeted expenses and necessary information a buyer needs when evaluation their total financial obligation when purchasing a home.  At a minimum a budget, balance sheet and audited financials should be reviewed in advance of finalizing a purchase decision.

Declaration of Covenants, Conditions, and Restrictions (CC&Rs)

This is a legally binding document that is officially recorded for all registered homeowners associations (HOAs)and filed with the State. The CC&R covers the rights and obligations of the HOA to its members and vice-versa.  The goal of the CC&Rs is to protect, preserve, and enhance property values in the community.

Bylaws

The community’s bylaws establish the structure of day-to-day governance of your homeowners association and duties of the Board. This includes things like:

• Frequency of HOA board elections
• Process for nominating and electing new board members
• Number of members that serve at one time
• Length of board member service terms
• Meeting frequency and quorum requirements
• Duties and responsibilities of board members

Rules and Regulations

When you purchase a home in a community governed by an HOA you are agreeing to abide by all rules and regulations specified in the governing documents. Your community’s Rules & Regulations are a catch-all for the things that aren’t covered in the CC&Rs or Bylaws. These are often the rules that might need revising over time due to changes in the community.

Every document can be changed and is done so with Amendments.  Make sure you request all these, as well, for review.

Equipped with this knowledge about what financial membership entails within an HOA community in Florida will enable buyers to make informed decisions regarding if the property is suited to your needs and desires.

Filed under: 2022 Real Estate, 2024 real estate, Blog, Boca Raton real estate, CEBA, contracts, Down Sizing, EBA, Exclusive Buyer Agency, First Time Homebuyers, Florida Buyer Agent, Florida Exclusive Buyer Agent, Florida Real Estate, HOA, Home Buyer Advice, Home Buyers, Homebuyer Advice, homeowners association, POA, Property Owners Association, Real Estate, Real Estate Investment, real estate news, Relocation, Retirement, second home, South Florida Real Estate, Uncategorized by Kim Bregman
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An exclusive buyer’s agent (EBA)is hired to help you with a big monetary decision, which is also a big personal decision. There is a wide variety in the quality of that fiduciary (financial) advice you will get, depending on the agent you choose.

An EBA is required to help their client get the best price and the best terms for the property that they want to buy. They are bound to help protect their client’s financial interests throughout the buying process.

How does buyer brokerage work? 

The company – traditional offices:

An agent who works with a buyer — and has a contract to give that buyer representation — is a buyer’s agent. The vast majority of buyer’s agents work in companies alongside other agents who represent sellers. In those companies, most work with both buyers and sellers. Whenever a buyer puts in an offer for a house listed by that company, the head of that office is a dual agent. Both agents want the highest price for the Seller …they are sub-agents of the Seller.

The company – exclusive buyer brokerage:

That’s why exclusive buyer brokerages are different. They are a small number of companies who don’t help sellers get the highest price for their house or condo. Instead, exclusive buyer’s agents (EBAs) work in firms that only help buyers buy properties. Exclusive buyer’s agents have no colleagues in the office who are trying to sell any particular house or condo. They are not invested in you buying any particular home; they want you to use your money to get what works best for you.

How do exclusive buyers agents help buyers?

Because EBAs don’t list properties for sale, they become buyer experts. They work only in the financial interests of buyers, so they can think clearly about how to get the best place for the best price.

They become experts in what are typical good points and bad points of local housing stock and neighborhoods. They can tell you whether the house you like is typical in your price range or if it is really special. They are free to share negatives, too, to help you avoid problems later.

In order to be fiduciary advisors, EBAs provide a buyer-centered view of the current value of a property you might want to buy. EBAs provide a comparative market analysis to give you an idea of what the property is worth before you decide on a price. Based on the market analysis, and the potential competition for the property, and how much you like it, an EBA will help you decide on a negotiation plan.

Because EBAs work only with buyers, they develop a reputation in the real estate market for having exceptionally prepared buyers.

Because EBAs work with buyers only, they develop a network of lenders who get your mortgage done on time at a competitive price, inspectors who look long and hard for defects in the property, and attorneys who will protect your rights.

What should a buyer ask an agent before hiring them?

• In the past year, how many sellers have you represented? How many buyers have you represented?
• If you run into an unusual situation, who do you go to for advice?
• Tell me about a recent success.
• Tell me about a recent problem with a house and how you handled it.
• Can I have three references?

Filed under: 2024 real estate, Blog, Boca Raton real estate, CEBA, EBA, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Buyer Agent, Florida Exclusive Buyer Agent, Florida Real Estate, Foreign Home Buyers, Home Buyer Advice, Home Buyers, Homebuyer Advice, NAR, NAR Legislation, Real Estate, Real Estate Closings, Real Estate Investment, real estate news, South Florida Real Estate by Kim Bregman
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Have big plans for this summer? Many families across Florida and the nation will spend time away from home during the summer months.

To fully enjoy those activities and other summertime pursuits spent away from home, homeowners should take precautions to protect their residences when they’re not around. Crime rates across the country often start to peak as temperatures rise during the warm weather months – the same time that many families leave their homes unoccupied and unprotected.

Homeowners can take these simple precautions to make their homes less of a target for criminals:

No “Home Alone”: Before leaving your home during the day, make it look as if someone is still at home by using timers on lights in various rooms. Even though daylight hours are longer during the summer, it may still get dark faster than you expect or you may return home later than anticipated, and taking this step ensures that your home appears occupied at all times.

No Sharing on Social Media: Sharing your vacation plans on social media sites isn’t wise. That’s the same as announcing to the world you’ll be gone and the house will be empty – a perfect target for burglars or vandals. The same goes for phone messages.

No Open-Door Policy: Ensure that all doors leading to the home and garage are locked, even when leaving for short periods of time. The typical burglary takes less than five minutes and unlocked doors, combined with an empty home, put out the “welcome mat” for crime. Make sure windows are locked, too.

Someone to Watch Over Me: Be landscape smart. Shrubbery and other plants can grow very rapidly during the warm, wet summer months. Keep them trimmed so neighbors can easily see your home. Also, a burglar could see an unkempt yard as a sign of an empty home.

A Key Reminder: When leaving home, take your house keys along or leave a spare set with a trusted neighbor. Never leave a key under a welcome mat, in a mailbox or other hiding spots – most burglars know where to look.

Crime Doesn’t Take a Vacation: If you’re planning to be away from home for more than a day or two, ask a neighbor pick up your mail and newspapers – or arrange to cancel the paper and hold the mail. Disable your garage door opener and manually lock it from the inside, and don’t forget to check that the door leading from the garage to the home is locked, too.

Filed under: 2024 real estate, Blog, Boca Raton real estate, Exclusive Buyer Agency, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Maintenance, home safety, Homebuyer Advice, Homeowners Insurance, real estate news, smart home by Kim Bregman
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