Totally Florida Real Estate Blog

Friday, January 19, 2007

Buying in Florida Workshop - Day 6: UK vs. Florida Buying Process

It is often said that the UK and Florida are divided by a common language. One of the ways this shows itself is the house buying process in the two countries. In the UK, in order to check out all the properties on the market, it is necessary to visit all the estate agents in your chosen area, and then sift through the newspapers and the web. In the UK, although real estate agents market properties, it is normal practice to be shown around a property by the sellers, who are usually the current owners.

In Florida all listed resale properties in an area are entered onto a computerized database (the multiple listing system or MLS), and the property details are available to all Realtors (Estate Agents), who subscribe to the MLS.

Under Florida law, anyone who advertises buys or sells real estate must be licensed (agent) by the Florida Real Estate Commission (FREC), although unfortunately there are still unlicensed persons operating. Many British English, Scottish, Welsh, and Irish buyers use agents in the UK - many of these are not licensed which means you will have no right of redress under Florida law. All licensed agents must conform to a code of practice established by FREC, as well as a code of ethics.

Quite a lot of the troubleshooting work we are commissioned to do is as a result of selection of an unlicensed or inexperienced Agent, indeed this area of work is second only to customers who have not used any agent but carried out the work themselves.


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