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The choice of the real estate broker in Florida is the first and most important step in the process of buying a property. The broker will be your right arm and mentor in all phases in this important decision that is to make a solid investment abroad. After all, the purchase of a property abroad requires accounting, legal advice, among other activities indirectly related to the purchase of the property.
In this article we list 7 fundamental tips so that you can find the ideal real estate broker in Florida.
1 – Don’t work with several brokers. Choose only one trusted broker
In other countries it is common to choose several brokers and real estate agencies to advise us on the purchase of a property, so we increase our chances of success by visiting several properties. In Florida this is not necessary and is now regulated by law! Just choose a single broker that serves you well, because everyone has access to the same system.
In Florida there is a single platform where all the properties available for sale are registered. This is the MLS system. Each realtor has an access password and that’s it! All reports, value tables, statistics, sales history and other property information are available there for anyone who works as a broker.
So all you need to do is find a single broker with experience in Miami, with credibility and who is affordable.
Working with more than one broker in Florida may still bring you problems. In addition to being a poorly seen practice, you may be forced to compensate the broker who feels wronged. The simple fact of receiving the description of a property by email can already check the rights to the commission to the broker who sent it. Therefore, if more than one broker sends you information about the same property, you will already run this risk.
In addition, with the new commissioning law in Florida, it is now mandatory to sign a Term of Commitment (Buyer Agreement) before visiting the various properties.
2 – Search for brokers on the internet
Do a search on the internet and select some broker sites you liked the most. Try to limit your research to a maximum of 3 or 4 brokers. Having too many options will only hinder the choice.
Find out if your broker has long experience in the region they work for (how many years of experience). Does he or she have a strong online presence? Are social media profiles always up to date and with relevant content? Through the website and social networks it will be possible to find testimonies, comments and references from the brokers.
Once the selection is made, contact each of them and evaluate the response time. It is ideal to talk on the phone and, at first, not ask specific questions about the property you are looking for. Receiving real estate options can characterize the beginning of the consultancy and the broker can claim the commission on the property shown in the future, even if by email (we will address this subject better later in this article).
Talk about broader topics such as details of the purchase process, the fiscal and tax part, Florida regions, financing, transfer of resources, etc. In this chat it will be possible to “feel” a little of the experience and profile of the broker.
3 – Make sure the real estate broker in Florida is licensed to work
Watch out! Many poeple in Florida can claim to be real estate brokers, but they do not have the proper license for the activity. Make sure that the chosen broker has the credentials for the performance of the profession.
Find out more about the real estate or Broker to which the broker in Florida is affiliated with. In Florida, brokers are called “Realtors” and everyone must join a “Broker”. The Broker is a more comprehensive type of registration that allows the opening of a real estate agency. They are the partner (owner) responsible for the real estate, having several realtors underneath.
4 – What is the broker’s specialty in Florida?
Each broker in Florida specializes in a property profile: 1 – Properties to live in, 2 – Commercial properties, 3 – Vacation Homes, etc. It is likely that the selected broker has experience in more than one type of property.
It is also important to understand if the broker has experience in both used properties (resale) and in launches and new constructions. Buying a property on pre construction, for example, has a series of particularities that only an experienced broker in this sub-niche will have the necessary knowledge to guide the buyer. Learn about the benefits that a broker can get from construction companies when buying at the plant
The great demand, both in Miami and Orlando, are investment properties that allow short-term rentals. In this way, the owner can enjoy the property on vacation (or any other period he wants) and rent it for the rest of the year, obtaining income in dollars.
Not all properties allow seasonal rentals. The legislation changes depending on the region in Florida. In Miami these ventures are more concentrated in the central region (Downtown and Brickell). However, other neighborhoods in Miami also began to offer enterprises within this format.
If your interest is a residential or second home (there is no interest in renting by season), there are regions and condominiums more suitable for this profile.
Make sure your Florida real estate agent knows the differences and legislation in each region.
5 – Brokers in Florida with experience in the foreign public
It is essential that the broker in Miami or Orlando has experience with a foreign audience. The ideal is to hire a broker who is familair with the foreign public or has extensive experience with the foreign public. It is very common for foreigners to think that the laws and the process of buying houses in Miami or Orlando are similar to the process in their country. In fact, they have many similarities. However, there are several different aspects that deserve attention. A broker in Florida with experience in the foreign public will be able to provide better guidance, including in tax and legal issues.
6 – Factors to be analyzed before purchase (Pre Purchase)
Buying a property in Florida is not just the intermediation of a property. The process also involves pre- and post-purchase.
In the pre-purchase it is important that the investor is very well guided and directed in tax and legal issues. Is it better to buy by Individual or through an LLC (company)? Is the purpose of the purchase also to obtain income with seasonal rentals? Is the customer pre-qualified to make a loan?
All these aspects of the purchase need to be very well addressed by specific and experienced professionals. For this reason, it is essential that the broker or real estate chosen has the proper partnerships with accounting and legal offices.
In situations where the purchase of the property will be for foreign housing, it is important to develop a Pre-Immigratory Tax Planning. There are several, therefore, the factors to be considered before the purchase.
7 – Factors to be analyzed after purchase (Post Purchase)
After the purchase, the investor will also need several advisories and services such as: 1 – Property administration, 2 – Advertising and rental management, 3 – Property renovation and decoration, 4 – Legal and Accounting Advice, among other services.
Especially for those who buy a property in order to obtain income with rent, it is important to hire rental administration and management services. In this way, the owner does not need to worry about anything. The administrator takes care of everything, from customer acquisition, check-in / check-out bureaucracy, maintenance, inspection, preparation of the property for the next tenant, collection of values and sending reports to the owner, among others. Learn more about the Total Rental Management service.
After a few years after the purchase, you may want to sell your property, either to buy another one or to raise resources, or any other reason. Does your broker have experience in sales?
Although the state of Florida offers an extremely efficient real estate market and sales usually occur quickly, there are strategies that can make your property worth considerably more, with very little effort or investment. It is essential that your broker knows these “secrets”. The practice of Home Staging is one of these strategies.
About AMG International Realty
AMG International Realty partners have been operating for more than 20 years in the Florida market, focusing on the foreign public.
AMG Realty has a complete team of professionals and a network of partners to offer or indicate all the advice from property search to after-sales: property administration, accountants, lawyers, concierge services, Title Company (notary office), mortgage brokers (real estate financing), among others.
If you want to know more about the process of buying a property in Florida, contact me right now and chat with me on WhatsApp: +1 305 318 6968 (Heloisa Arazi).
