It shouldn’t come as a surprise that the home buying process is very different in the USA than it is in Europe. European buyers of Florida property are well advised to familiarize themselves with the differences before they embark on the journey to buy their dream house in the sun. In the US, Realtors usually take a more collaborative approach than in Europe. In most metropolitan areas, Realtors enter the properties for sale ("listings") into a common database (the Multiple Listing System or "MLS"). Each Realtor has access to all properties available for sale or rent and could offer them to their customers. Realtors work hand in hand and split commissions after a successful sale. The effect is that a wider pool of buyers is reached more rapidly and a sale is achieved more quickly as well as buyers have a wide variety of property to choose from. The time consuming European way of going from Realtor to Realtor is not necessary.
We have access
to all properties available. A major difference is also that Realtors
negotiate legally binding contracts for their customers. For consumer
protection, the Florida real estate market is controlled and regulated by the Department
of Professional Regulations (DBPR) and the Florida Real Estate Commission
(FREC). Realtors have to attend intensive schooling and state testing with
continuous education before they could work in Florida.
Chapter 475.17 of the Florida Statutes contains much of the rules and regulations for licensed salespersons. The FREC administers and enforces the real estate license law, Chapter 475, Part I, Florida Statutes. The Commission is also empowered to pass rules that enable it to implement its statutorily authorized duties and responsibilities. Buyers and sellers can contact both commissions if any controversy should occur.
At Engel & Völkers Miami we are committed to success in the real estate market and adhere to the strict rules handed down by the Florida Real Estate Commission and Statute 475. Engel & Völkers Miami maintains memberships with the REALTOR Association of Greater Miami and the Beaches and The German American Business Chamber of Florida. Membership in these organizations dictates that the organization adheres to the even stricter codes of ethics of these boards. Engel & Völkers Miami's high level of commitment enables the company to attract top professionals as sales associates and clients looking to buy and sell residential real estate. Our greatest strength is our ability to operate as a team and have a worldwide network of the best in high quality estate properties.