September 8, 2015

Introduction Message from Tom Wemett

Hi, this is Tom Wemett.  I recently started this blog as a way to discuss, explain, educate and vent about issues in the real estate industry that I’m still involved in and have been for over 43 years. I have lots on my mind and a lot of accumulated information about home buying.  I have […]

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April 9, 2017

Latest Revisions to Buyer Representation Agreement are Deceptive

In November, 2016 the Florida Association of Realtors came out with four different “exclusive buyer brokerage agreements” for use depending on whether the brokerage is starting out as a single agency, single agency with a transition to transaction brokerage, transaction brokerage or non-representative.  The deception continues. First, the real estate companies using this form are […]

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December 9, 2015

I Wonder if Rising Housing Prices Are Due to Lack of Actual Buyer Representation

 Florida’s housing market: Rising median prices in October   ORLANDO, Fla. – Nov. 23, 2015 –Florida’s housing market reported higher median prices, fewer days on market and a constrained inventory of homes for sale in October, according to the latest housing data released by Florida Realtors®. Statewide closed sales of existing single-family homes rose last […]

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December 7, 2015

Florida Home Buyers Don’t Know What They Don’t Know

    And the Florida real estate industry likes it that way.   When the disclosure laws, implemented in 2003, changed in 2008 to do away with the “transaction broker” disclosure, the real estate industry must have been celebrating.  It was hard for real estate licensees to tell buyers and sellers that they weren’t being […]

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November 22, 2015

Transaction Brokerage Has Consequences

Transaction Brokerage is Convenient for Traditional Real Estate Firms in Florida, but it Does Have Some Unintended Consequences!   A Little History:  On July 1, 2003, the real estate license law’s “presumption of transaction brokerage” went into effect in Florida.  The presumption, set forth in Section 475.278(1)(b), Florida Statutes, states: “It shall be presumed that […]

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November 14, 2015

The Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector. Its jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, other financial companies operating in the United States. The CFPB’s creation was authorized by the […]

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November 10, 2015

“Know Before You Owe” Regulations Causing Delays

A recent survey of Buyer Agents Shows Consumers Should Be Prepared for Delayed Real Estate Closings A recent survey conducted by the National Association of Exclusive Buyer Agents (NAEBA) shows that some real estate closings are already being affected by the new “Know Before You Owe/TRID” regulations that went into effect October 3. The survey […]

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October 16, 2015

Don’t Let REALTORS Steal Your Right to Choose Your Own Agent

Organized Real Estate’s Best Kept, Dirty Little Secret REALTOR Procuring Cause and Mandatory Arbitration   Excerpt from Jay Reifert’s Publication, “Don’t Let Organized Real Estate, (REALTORS), Steal Your Right to Choose Your Own Agent”. “There’s nothing quite like being robbed, especially when you don’t even know someone has their hand in your pocket.  Yet, every […]

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October 16, 2015

One Date and You Are Married – Don’t Give Up Your Right to Choose Your Own Agent

An Important Message for Home Buyers You may have given up your right to choose your own agent!   If you have signed-in and toured homes during open houses; called a real estate licensee for information about one or more listings; toured one or more homes with one or more real estate salesperson or broker; […]

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October 16, 2015

Customer vs. Client Services

Transaction Broker = Customer/Single Agent = Client There is a big difference between a buyer being a customer of a real estate licensee vs. being a client of a real estate licensee!  It is important that a Florida home or condo buyer understand this difference.  Below is a link to a chart showing what services […]

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October 14, 2015

Florida Realtors Misleading Consumers On Purpose!

Recently, Florida Realtors were provided access to a video explaining the Florida “Exclusive Buyer Brokerage” Agreement which is presented to home buyers when the real estate licensee desires to “bind” the buyer to the real estate company they work for. The problem is that the buyer doesn’t know that they aren’t being represented but believe […]

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