Finance

Have finance questions? Ask a financial expert online.

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

Can a buyer represent herself in a real estate transaction…

Can a buyer represent...

Can a buyer represent herself in a real estate transaction in Florida? Not as an agent, just as a buyer?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

It's a simple question.

Accountant's Assistant: Is there anything else the Accountant should be aware of?

Can the question be answered or are you just going to keep asking me questions?

Show More
Show Less
Ask Your Own Finance Question
Answered in 22 minutes by:
10/21/2017
socrateaser
socrateaser, Attorney
Category: Finance
Satisfied Customers: 40,158
Experience: Retired
Verified

Hello,

The answer is, "yes," a buyer can represent themselves in a real estate transaction. However, a buyer cannot receive a sales commission as part of the real estate contract, because the commission can only be earned by a licensed real estate agent. As an alternative, a buyer can negotiate to have the sales price of the property reduced by the amount that the buyer's agent's commission would have been worth, had the buyer used an agent. But, the price reduction cannot be characterized in the purchase agreement as a sales commission.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

Thanks again for using Justanswer!

socrateaser
socrateaser, Attorney
Category: Finance
Satisfied Customers: 40,158
Experience: Retired
Verified
socrateaser and 87 other Finance Specialists are ready to help you
Ask your own question now
Customer reply replied 10 months ago
Thank you for your reply, it confirmed my education. But for some reason the listing agent refused to believe it and would not remove that he was a transaction agent, and put his Brokerage firm name in the blank that said 'Buyers Agent'.

The agent wants both sides of the sales commission, and that's how he/she can get it.

Thanks for using Justanswer!

Ask Your Own Finance Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a financial professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask socrateaser Your Own Question
socrateaser
socrateaser
socrateaser, Attorney
Category: Finance
Satisfied Customers: 40,158
40,158 Satisfied Customers
Experience: Retired

socrateaser is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,609 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,222 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,933 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Related Finance Questions
I need some advice. Our corporation owned a property that we
Hello! I need some advice. Our corporation owned a property that we sold, but the escrow company forgot to apply a credit to the buyer's closing cost of $600.00 to fix the roof. Now, we owe the buyer … read more
socrateaser
socrateaser
Attorney
40,158 satisfied customers
I am about to open my own Real Estate Firm in Florida, I
I am about to open my own Real Estate Firm in Florida, I formed a PA with its own EIN which I used as a Real Estate Agent, would it be wise for me to keep the PA corporation and register this as my bu… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Im house hunting and am considering purchasing a house thats
I'm house hunting and am considering purchasing a house that's being sold in estate. My buying agent relayed that the selling agent mentioned a recent offer had been rejected. it was lower than the as… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,609 satisfied customers
Hello, In selling property that Buyer wishes to hold the property
Hello, In selling property that Buyer wishes to hold the property for 365 days while they seek all approvals for what they want to do with the property. What would be a customary "holding fee" for the… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
This is my question not properly answered and i have requested
This is my question not properly answered and i have requested Shawn P. Ada not to work on it for me ................ I am planning to buy a home . Please guide me on the following : (1) How much mini… read more
R. Klein, EA
R. Klein, EA
Accountant
Master's Degree
480 satisfied customers
Im planning to buy some mortgages notes. Im a real estate
I'm planning to buy some mortgages notes. I'm a real estate agent and I got a lot of listing how can I buy those notes… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,609 satisfied customers
How common is it for people to pay flat fees to brokers (instead
How common is it for people to pay flat fees to brokers (instead of 2.5% or 3%) for residential real estate transactions?… read more
Northwest Andrew
Northwest Andrew
31 satisfied customers
Is being a real estate note finder in the state of WI and MN
Is being a real estate note finder in the state of WI and MN legal? This would be the act of finding a real estate note for sale and getting the information out there for a buyer to find. The note fin… read more
Eric
Eric
Financial Manager
Bachelor's Degree
559 satisfied customers
IM GOING INTO FORECLOSURE. i even have a date 4/6/2010. However
I'M GOING INTO FORECLOSURE. i even have a date 4/6/2010. However there is an active arrangement for a short sale of the property The mortgage company is aware. The bank is aware, but the court is not … read more
Eric
Eric
Financial Manager
Bachelor's Degree
559 satisfied customers
Do I need a licence to be a note finder just putting the seller
Do I need a licence to be a note finder just putting the seller and buyer together and If I do what Kind of licence do I need I am in Florida thanks Bruce… read more
Eric
Eric
Financial Manager
Bachelor's Degree
559 satisfied customers
I recently put a contract down on a townhouse condominium in
I recently put a contract down on a townhouse condominium in Maryland, which was accepted. Settlement was scheduled for April 9. I understood that I was purchasing from an estate represented by an att… read more
Eric
Eric
Financial Manager
Bachelor's Degree
559 satisfied customers
I brought a house, the realestate agent represented seller
I brought a house, the realestate agent represented seller and buyer-- would this be legal? I also did not receive all papers I signed, I was told her assistant accidently faxed them to financial inst… read more
Dave Z
Dave Z
Self-Employed
Bachelor
418 satisfied customers
My daugher purchased a town house and closed June 25th. The
My daugher purchased a town house and closed June 25th. The seller did not disclose that her two trees in front plugged her property line sewer with roots. By July 4th her sewer backed up and overflow… read more
The Geezer
The Geezer
Master's Degree
120 satisfied customers
Hello, how can i get the information I need to arrange seller
Hello, how can i get the information I need to arrange seller financing for the purchase of a home in Baltimore County, MD?… read more
James Heal
James Heal
Bachelor\u0027s Degree
495 satisfied customers
Hi, I posted a question earlier as well. Did not receive an
Hi, I posted a question earlier as well. Did not receive an answer. My boyfriend and I have a home (he is the owner) I am listed as a tenant. It went to foreclosure. We have attempted for 6 months to … read more
James Heal
James Heal
Bachelor\u0027s Degree
495 satisfied customers
I want to sell property I have owned free and clear in Myers
I want to sell property I have owned free and clear in Myers Flat California. The tenant in the house wants to buy it. A real estate agent wants 4% to do the paperwork but I don't want to pay him to d… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I signed an agreement to sell a real estate with a subject ...
I signed an agreement to sell a real estate with a subject to approval from an agency, but there was no closing date, now I could not close this transaction, and the property was foreclosed by a lende… read more
Dirk
Dirk
Bachelor's Degree
10 satisfied customers
I have a small apartment complex, 8 units, that I built. I ...
I have a small apartment complex, 8 units, that I built. I would like to sell them but my real estate agent says that it is not beneficial to a buyer at this time because of the depreciation. What doe… read more
The Geezer
The Geezer
Master's Degree
120 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x