Frequently Asked Questions

What is a buyer's agent and what do they do?

A buyer's agent is a licensed real estate professional who represents the buyer exclusively in a real estate transaction. Their fiduciary duties include loyalty (acting in your best interest), confidentiality (protecting your negotiating position), disclosure (sharing all material facts), obedience (following your lawful instructions), reasonable care, and accounting. A buyer's agent helps you identify properties, evaluate market value, negotiate offers, review contracts and HOA documents, coordinate inspections, and guide you through closing.

Do I have to sign a buyer agency agreement in Florida?

As of August 2024, Florida law requires buyers to sign a written buyer agency agreement before a licensed agent can show them properties. The agreement defines the scope of representation, the duration of the relationship, and how the agent will be compensated. It does not obligate you to purchase any specific property — it establishes the professional relationship. Kinsey Haddock P.A. reviews the agreement in detail with every buyer before signing.

How is a buyer's agent compensated in Florida?

Buyer agent compensation in Florida changed significantly following the 2024 NAR settlement. The buyer's agent commission is now negotiated separately and disclosed in the buyer agency agreement. In many transactions, the seller still offers to cover the buyer's agent compensation as a concession — but this is no longer guaranteed or assumed. As a buyer, you should discuss compensation with your agent upfront. In most Emerald Coast transactions, Kinsey Haddock P.A. is compensated by the seller, meaning buyers pay nothing out of pocket for representation.

What is the difference between a buyer's agent and a transaction broker in Florida?

A buyer's agent owes full fiduciary duties to the buyer — loyalty, confidentiality, and undivided advocacy. A transaction broker (the default relationship in Florida) facilitates the transaction for both parties but does not represent either side exclusively — they owe limited duties and cannot advocate for one party over the other. For buyers, especially out-of-state buyers unfamiliar with the market, full buyer representation provides significantly stronger protection than a transaction broker relationship.