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Tampa is a United States city in Hillsborough County, on the west coast of the state of Florida. It serves as the county seat for Hillsborough County. The population of Tampa in 2000 was 303,447. According to the 2007 estimates, the city has a population of 382,060, making it the 54th largest city in the nation. This makes the immediate area one of the most attractive residential and commercial real estate listings location in the country. Tampa is a part of the metropolitan area most commonly referred to as the "Tampa Bay Area". Tampa is recognized as a part of the Tampa-St. Petersburg-Clearwater, Florida MSA. When considering the MSA, this area becomes a hotspot for retirees and business searching for prime locations for both commercial and residential buildings and acreage. The four-county area is composed of roughly 3 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C., and Atlanta. The "Greater Tampa Bay" area has just over 4 million residents and generally includes the Tampa and Sarasota metro areas. The Tampa Bay Partnership and U.S. Census data showed an average annual growth of 2.47 percent, or a gain of approximately 97,000 residents per year. Between 2000 and 2006, the Greater Tampa Bay Market has experienced a combined growth rate of 14.8 percent, growing from 3.4 million to 3.9 million and hitting the 4 million people mark on April 1, 2007. The Tampa Bay Designated Market Area (DMA) is the largest media market in the state of Florida and the thirteenth largest DMA Market in the United States. The Tampa Real Estate Listings Prospectus (RELP) has shown that the values of both residential and commercial properties within the Hillsborough county area consistently rank among the most sought after properties available in the United States.

The topography of the region is directly related to the popularity of the properties available and the vibrancy of the real estate market in the region. According to the United States Census Bureau, the city has a total area of 170.6 square miles. The data concludes that 112.1 square miles is land and 58.5 square miles is water. The highest point in the city is only at 48 feet. Tampa is bordered by two bodies of water, Old Tampa Bay and Hillsborough Bay, both of which flow to form Tampa Bay, which in turn flows into the Gulf of Mexico. The Hillsborough River flows out into Hillsborough Bay, passing directly in front of Downtown Tampa and supplying Tampa with its main source of fresh water. Palm River is a smaller river flowing from just east of the city into McKay Bay. The convergence of the bays and the associated bodies of water create spectacular view properties that command top prices in the region's real estate market. The inclusion of ocean views also creates an environment that is well suited for the development of luxury homes, hotels, and townhomes. The beachfront and waterfront properties create high demand among real estate agents and brokers in the Tampa area.

The climate in the area is a humid subtropical climate with hot summer days and a threat of a light winter freeze from November 15th through March 5th. Agriculturally, Tampa is listed as USDA zone 10, which is about the northern limit of where coconut palms and royal palms can be grown. Highs usually range between 65 and 95°F (18 and 35 °C) year round. Surprisingly to some, Tampa's official recorded high has never hit 100°F (38°C) - the all-time record high temperature is 99°F (37°C), recorded on June 5, 1985. The subtropical climate is responsible for the relatively high number of senior citizens and retirees who migrate to the area in search of prime residential properties. The retiree base in the Tampa area is greater than average for the US and creates a solid transaction base for independent real estate agents and real estate brokerage firms alike. Many agents agree that the temperate climate is conducive to a vibrant mortgage base in the Tampa area. Because of the frequent summer thunderstorms, Tampa has a pronounced wet season, receiving an average of about 28 inches of rain from June and September but only about 18 inches during the remaining eight months of the year. The historical averages during the late summer, especially September, are augmented by passing tropical systems, which can easily dump many inches of rain in one day. Outside of the summer rainy season, most of the area's precipitation is delivered by the occasional passage of a weather front. Because of the threat of tropical systems and hurricanes, property insurances rates in the Tampa region can be somewhat higher than other retirement communities in the country. The weather does have an active impact on structural values and property insurance (residential and commercial property insurance rates).

The architectural styles in Tampa are attractive to many residents and companies seeking to purchase properties in the Tampa and Hillsborough county area. Tampa displays a wide variety of architectural designs and styles. Most, if not all of Tampa's high rises demonstrate Post-modern architecture. The design for the renovated Tampa Museum of Art, displays Post-modern architecture, while the city hall and the Tampa Theater belong to Art Deco architecture. The Tampa mayor as of 2008, Pam Iorio, has made the redevelopment of Tampa's downtown, especially bringing in residents to the decidedly non-residential area, a priority. Several residential and mixed-development high-rises are in various stages of planning or construction, and a few have already opened. Another of Mayor Iorio's initiatives is the Tampa Riverwalk, a plan which intends to make better use of the land along the Hillsborough River in downtown where Tampa began. Several museums are part of the plan, including new homes for the Tampa Bay History Center, the Tampa Children's Museum, and the Tampa Museum of Art. The planning commission and commercial developers groups in Tampa encourage smart growth which supports the construction and real estate markets as a whole. This cooperative spirit between the real estate markets, architects, and the zoning and governing bodies in the region create an atmosphere which is very conducive to smart growth and profitable real estate development for both the buyers and sellers or residential and commercial properties. Tampa is the site of several skyscrapers. Overall, there are at least 18 completed buildings that rise over 250 feet in height. The city also has at least 69 high-rises, more than any other city in Florida after Miami. The tallest building in the city is 100 North Tampa, formerly the AmSouth Building, which rises 42 floors (579 feet) in Downtown Tampa. The structure was completed in 1992, and is the tallest building in Florida outside of Miami and Jacksonville.

The Tampa area is also home to many neighborhoods and surrounding municipalities which include prime residential and commercial property listings. The city is divided into many neighborhoods, several of which were towns and unincorporated communities that were annexed by the growing city. Generally, the city is divided into the following areas: Downtown Tampa, New Tampa, West Tampa, East Tampa, North Tampa, and South Tampa. Within these areas the consumer can find some of the nations top real estate agents and brokerage firms in the country.

Some well-known communities of Tampa which offer prime real estate listings include Ybor City, Forest Hills, Sulphur Springs, Seminole Heights, Tampa Heights, Palma Ceia, Hyde Park, Tampa Palms, College Hill and non-residential areas of Gary and the Westshore Business District. Among these areas are some of the most sought after properties in the country.. particularly in the southeast. As the region grows and new properties are added to the market, many real estate investors and brokers place emphasis on the existing properties and landmarks which are part of the current infrastructure and development. These existing properties and landmarks include the Sulphur Springs Water Tower (a landmark in Sulphur Springs section of the city which dates back to the late 1920's). Ybor City is home to several buildings on the National Register of Historic Places and a National Historic District. Most notable among these structures are the social clubs built in the early 1900's. The land marks and public properties also include Babe Zaharias Golf Course in the Forest Hills area of Tampa. The golf course has been designated a Historical Landmark by the National Register of Historic Places. It was bought in 1949 by the famous 'Babe', who had a residence nearby, and closed upon her death. In 1974, the City of Tampa opened the golf course to the public. The Story of Tampa, a public painting by Lynn Ash, is a 4' x 8' oil on masonite mural that weaves together many of the notable aspects of Tampa's unique character and identity. It was commissioned in 2003 by the City of Tampa's Public Art Program and can be found in the lobby of the Tampa Municipal Office Building. Park Tower (originally the First Financial Bank of Florida), the first substantial skyscraper in Downtown Tampa. Completed in 1973, it was the tallest skyscraper in Tampa until the completion of One Tampa City Center in 1981. A notable feature of the Tampa skyline is the Rivergate building, a cylindrical building across from the University of Tampa. The building is affectionately known as the "Beer Can building" and was featured in the movie "The Punisher". Other landmarks under development may include The Tampa Riverwalk, a proposed continuous pedestrian walkway along the eastern end of the Hillsborough River. The sidewalk will extend from the Channelside district to Tampa Heights. The landmarks which include public and private properties have an impact on the real estate market as a whole in the region due to the attraction factor for seniors seeking to buy retirement homes as well as commercial developers looking for an attractive development environment.

The overall real estate environment in the Tampa area is attractive to both private buyers and real estate investors. The business sector of the real estate market is directly related to the real estate market as a whole. The fundamental principals that guide the market and produce sustainable growth can be assessed and measured by the direct relation of growth to population ratios. With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry in Tampa has evolved into several distinct fields. This is fundamental and applies not only to Tampa and Hillsborough county, but also to the real estate market as a whole. Specialists are called on to valuate real estate and facilitate transactions in the Tampa area. Among the transactions among real estate businesses in the Tampa area are the following:

Within each field, a business may specialize in a particular type of real estate, such as residential, commercial, or industrial property. In addition, almost all construction business effectively has a connection to real estate. There are top real estate agents and brokers standing by in the Tampa market to assist all buyers with the acquisition of properties both commercial and residential. It is important for the consumer to understand some basic information about real estate in general in order to make an educated transaction in the Tampa and Hillsborough county real estate markets. It is important to understand fundamentals regarding residential real estate, market sector values, and mortgages.

General residential real estate fundamentals (these apply to the market in general and particularly the Tampa market):

The legal arrangement for the right to occupy a dwelling is known as the housing tenure. Types of housing tenure include owner occupancy, Tenancy, housing cooperative, condominiums (individually parceled properties in a single building), public housing, squatting, and co-housing. Residences can be classified by if and how they are connected to neighboring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residents might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.

Major physical categories in the Tampa market include:

The size of an apartment or house can be described in square feet. In the Tampa market this includes the area of "living space", excluding the garage and other non-living spaces. It can also be described more roughly by the number of rooms. A studio apartment has a single bedroom with no living room (possibly a separate kitchen). A one-bedroom apartment has a living or dining room, separate from the bedroom. Two bedroom, three bedroom, and larger units are also common. (A bedroom is defined as a room with a closet for clothes storage.)

Tampa real estate market sector values:

That makes real estate assets 54% and financial assets 46% of total stocks, bonds, and real estate assets. Assets not counted here are bank deposits, insurance "reserve" assets, and human assets; also it is not clear if all debt and equity investments are counted in the categories equities and bonds.

Mortgages in the Tampa real estate market:

Currently the mortgage and lending markets in the Tampa and Hillsborough county areas are strong and vibrant. The banking industry as well as government lending institutions are making capital available for the purchase of residential and commercial properties. As a progressive city, Tampa encourages smart growth and supports the development of environmentally friendly expansion. As a result of the smart approach, lending institutions are viable and strong and mortgages are available to qualifying consumers and developers who need capital to keep pace with the demand for mortgages and credit.

In order to make an educated decision in the acquisition of funding (in the form of a mortgage) it is important to understand fundamentals associated with mortgages in general. The following guidelines apply to mortgages in the Tampa area as well as mortgages in general. The following information is posted in order to familiarize the consumer with the process and fundamentals of what a mortgage really is:

A mortgage is the transfer of an interest in property to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or a property of real estate) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than on other property (such as a vehicle or airplane) and in some jurisdictions only land may be mortgaged. A mortgage is the standard method by which individuals and businesses can purchase real estate without the need to pay the full value immediately from their own resources.
The cost to the borrower is measured by the annual percentage rate (APR), which is an effective annual rate of interest and fees paid by the borrower.

The Mortgage Lender:

The mortgage is a party to whom property is mortgaged, usually a lender. Mortgage provides security to the lender. Given the large sum of money involved in financing a property, a mortgage lender will usually want security for the loan that will provide a claim upon that security and will take precedence over other creditors. A mortgage accomplishes this security. The lender loans the money and registers the mortgage with the title to the property. The borrower gives the lender the mortgage as security for the loan, receives the funds, makes the required payments and maintains possession of the property. The borrower has the right to have the mortgage discharged from the title once the debt is paid. If the mortgagor fails to repay the loan according to the conditions set forth by the lender, then the mortgage reserves the right to foreclose on the property.

The Borrower:

Mortgagor is a party who mortgages property. A mortgagor owes the obligation secured by the mortgage. Generally, the debtor must meet the conditions of the underlying loan or other obligation and the conditions of the mortgage. Otherwise, the debtor usually runs the risk of foreclosure of the mortgage by the creditor to recover the debt. Typically the debtors will be the individual home-owners, landlords or businesses who are purchasing their property by way of a loan. Most buyers of real property would have difficulty saving enough money to make an outright purchase of real estate. The use of debt increases a buyer's ability to buy through a combination of down payment and debt. As a result a real estate transaction seldom occurs without buyers relying on borrowed funds.

In most jurisdictions, a lender may foreclose on the mortgaged property if certain conditions - principally, non-payment of the mortgage loan - apply. Subject to local legal requirements, the property may then be sold. Any amounts received from the sale (net of costs) are applied to the original debt.

In some jurisdictions, mortgage loans are non-recourse loans: if the funds recouped from sale of the mortgaged property are insufficient to cover the outstanding debt, the lender may not have recourse to the borrower after foreclosure. In other jurisdictions, the borrower remains responsible for any remaining debt, through a deficiency judgment. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.

Specific procedures for foreclosure and sale of the mortgaged property almost always apply, and may be tightly regulated by the relevant governing bodies. In some jurisdictions, foreclosure and sale can occur quite rapidly, while in others, foreclosure may take many months or even years. It is important to secure a qualified professional real estate agent or broker in the Tampa area in order to get the specifics related to real estate purchases in Tampa and Hillsborough county Florida. Your local Tampa real estate agent can help you with the process of finding a qualified lender in the Tampa or Hillsborough county area.

Real Estate Agents and Brokers:

Tampa, Florida is home to top professional real estate agents and brokers who are ready to assist you with your commercial or residential property purchase in the Tampa area. In order to locate the top real estate agent and broker in the area, it is important that you understand the function of the office of real estate agent and broker. The following information is a general overview of the duties of real estate brokers and agents:

The Real Estate Broker:

A real estate broker is a term which describes a party who acts as an intermediary or liaison between sellers and buyers of real estate and attempts to find sellers who wish to sell and buyers who wish to buy. In the US, real estate brokers and their salespersons (commonly called "real estate agents" or, in some states, "brokers") assist sellers in marketing their property and selling it for the highest possible price under the best terms. When acting as a Buyer's agent with a signed agreement, they assist buyers by helping them purchase property for the lowest possible price under the best terms. Without a signed agreement, brokers may assist buyers in the acquisition of property but still represent the seller and the seller's interests. In most jurisdictions in the United States, a person is required to have a license in order to receive remuneration for services rendered as a real estate broker. Unlicensed activity is illegal, but buyers and sellers acting as principals in the sale or purchase of real estate are not required to be licensed. In some states, lawyers are allowed to handle real estate sales for compensation without being licensed as brokers or agents.

In the past, when brokers (and their agents) only represented sellers, the term "real estate salesperson" may have been more appropriate than it is today, given the different ways that brokers and their agents can help a buyer through the process rather than simply “sell’’ him or her a property. Legally however, the term 'salesperson' is still used in many states to describe a real estate agent. In Tampa, as in every other area of the country, real estate brokers are regulated and highly trained. Tampa area brokers and real estate professionals are involved in ongoing training that keeps them abreast of the changes in the Tampa real estate markets.

The Real Estate Agent:

While some people may refer to any licensed real estate agent as a real estate broker, a licensed real estate agent is a professional who has obtained either a real estate salesperson's license or a real estate broker's license. In the United States, there are commonly two levels of real estate professionals licensed by the individual states, but not by the federal government:

The Real Estate Salesperson:

When a person first becomes licensed to become a real estate agent, he/she obtains a real estate salesperson's license (or some states use the alternative term, "broker") from the state in which he/she will practice. If you want to obtain a real estate license, the candidate must take specific coursework (of between 40 and 90 hours) and then pass a state exam on real estate law and practice. In order to work, salespersons must then be associated with (and act under the authority of) a real estate broker. Many states also have reciprocal agreements with other states, allowing a licensed individual from a qualified state to take the second state's exam without completing the course requirements, or, in some cases, take only a state law exam.

The Realtor:

After gaining some years of experience in real estate sales, a salesperson may decide to become licensed as a real estate broker (or Principal/qualifying broker) in order to own, manage or operate his/her own brokerage. In addition, some states allow college graduates to apply for a broker license without years of experience. College graduates fall into this category once they have completed the state required courses as well. Commonly more course work and a broker's state exam on real estate law must be passed. Upon obtaining a broker's license, a real estate agent may continue to work for another broker in a similar capacity as before (often referred to as a broker associate or associate broker) or take charge of his/her own brokerage and hire other salespersons (or broker) licensees. Becoming a branch office manager may or may not require a broker's license.

A Realtor is a real estate professional, usually a broker or salesperson, who is a member of the National Association of Realtors (NAR). There are 1.3 million Realtors, mostly in the US, and an additional 1 million licensed real estate agents who are not members of NAR and cannot use the term "realtor". However, note that the US Bureau of Labor Statistics claims only about 600,000 working brokers/salespersons.

Agency Relationships With Clients Versus Non-Agency Relationships With Customers:

Agency relationships in residential real estate transactions involve the legal representation by a real estate broker (on behalf of a real estate company) of the principal, whether that person or persons is a buyer or a seller. The broker (and his/her licensed real estate agents) then becomes the agent of the principal.

Transaction Brokers:

Some state Real Estate Commissions, notably Florida's after 1992 (and extended in 2003) and Colorado's after 1994 (with changes in 2003), created the option of having no agency nor fiduciary relationship between brokers and sellers or buyers. Having no more than a facilitator relationship, transaction brokers assists buyers, sellers, or both during the transaction without representing the interests of either party who may then be regarded as customers.

As noted by the South Broward Board of Realtors, Inc. in a letter to State of Florida legislative committees:

"The Transaction Broker crafts a transaction by bringing a willing buyer and a willing seller together and assists with the closing of details. The Transaction Broker is not a fiduciary of any party, but must abide by law as well as professional and ethical standards." (such as NAR Code of Ethics) The result was that in 2003, Florida created a system where the default brokerage relationship had "all licensees …operating as transaction brokers, unless a single agent or no brokerage relationship is established, in writing, with the customer" and the statute required written disclosure of the transaction brokerage relationship to the buyer or seller customer only through July 1, 2008.

In the Florida case, dual agency and sub-agency (where both listing and selling agents represented the seller) no longer exist.

Dual Or Limited Agency:

Dual agency occurs when the same brokerage represents both the seller and the buyer under written agreements. Individual state laws vary and interpret dual agency rather differently.

Many states no longer allow dual agency. Instead, "transaction brokerage" provides the buyer and seller with a limited form of representation, but without any fiduciary obligations (see Florida law). Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency, and many states require written Disclosures to be signed by all parties outlining the duties and obligations.

Types Of Services That A Broker Can Provide:

Since each state's laws may differ from others, it is generally advised that prospective sellers or buyers consult a licensed real estate professional.

Some Examples:

These services are also changing as a variety of real estate trends re-engineer the industry.

General Information:

The sellers and buyers themselves are the principals in the sale, and real estate brokers (and the broker's agents) are their agents as defined in the law. However, although a real estate agent commonly fills out the real estate contract form, agents are typically not given power of attorney to sign the real estate contract or the deed; the principals sign these documents. The respective real estate agents may include their brokerages on the contract as the agents for each principal.

The use of a real estate broker is not a requirement for the sale or conveyance of real estate or for obtaining a mortgage loan from a lender. However, once a broker is used, the settlement attorney (or party handling closing) will ensure that all parties involved be paid. Lenders typically have other requirements, though, for a loan.

Services Provided To Both Buyers And Sellers:

In addition to the services to sellers and buyers described below, most real estate agents coordinate various aspects of the closing.

Real estate brokers (and their agents) typically do not provide title service such as title search or title insurance, do not conduct surveys or formal appraisals of the property such as those required by lenders, and do not act as lawyers for the parties, although they may "coordinate" these activities with the appropriate specialists. Some real estate brokers may be associated with loan officers who may help to finance buyers to make their purchase.

Regardless of whether a real estate agent assists sellers or buyers of real estate, negotiating skills and knowledge of financing options are important.

Real Estate Brokers and Sellers: Services provided to seller as client.

Upon signing a listing contract with the seller wishing to sell the real estate, the brokerage attempts to earn a commission by finding a buyer for the sellers' property for highest possible price on the best terms for the seller. To help accomplish this goal of finding buyers, a real estate agency commonly does the following:

The "Listing" Contract:

Several types of listing contracts exist between broker and seller. These may be defined as:

In this type of Agreement", the broker is given the exclusive right to market the property and represents the seller exclusively. This is referred to as seller agency. However, the brokerage also offers to co-operate with other brokers and agrees to allow them to show the property to prospective buyers and offers a share of the total real estate commission.

An alternative form, "Exclusive Agency", allows only the broker the right to sell the property, and no offer of compensation is ever made to another broker. In that case, the property will never be entered into an MLS. Naturally, that limits the exposure of the property to only one agency.

This is an Agreement whereby the property is available for sale by any real estate professional who can advertise, show, or negotiate the sale. Whoever first brings an acceptable offer would receive compensation. Real estate companies will typically require that a written agreement for an open listing be signed by the seller to ensure the payment of a commission if a sale should take place. Although there can be other ways of doing business, a real estate brokerage usually earns its commission after the real estate broker and a seller enter into a listing contract and fulfill agreed-upon terms specified within that contract. The seller's real estate is then listed for sale, frequently with property data entered into a Multiple Listing Service (MLS) in addition to any other ways of advertising or promoting the sale of the property.

In most of North America, where brokers are members of a national association (such as NAR in the United States or the Canadian Real Estate Association), a listing agreement or contract between broker and seller must include the following: starting and ending dates of the agreement; the price at which the property will be offered for sale; the amount of compensation due to the broker and how much, if any, will be offered to a cooperating broker who may bring a buyer. Without an offer of compensation to a cooperating broker (co-op percentage or flat fee), the property may not be advertised in the MLS system.

Net Listings: Property listings at an agreed-upon net price that the seller wishes to receive with any excess going to the broker as commission are not legal in most, if not all, states.

Brokerage Commissions:

In consideration of the brokerage successfully finding a satisfactory buyer for the property, a broker anticipates receiving a commission for the services the brokerage has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a satisfactory buyer for the real estate for sale, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.

RESPA:

Real estate brokers who work with lenders may not receive any compensation from the lender for referring a client to a specific lender. To do so would be a violation of a (US) federal law known as the Real Estate Settlement Procedures Act (RESPA). All lender compensation to a broker must be disclosed to all parties.

Lockbox:

With the sellers’ permission, a lockbox is placed on homes that are occupied and, after arranging an appointment with the home owner, agents can show the home. When a property is vacant or where a seller may be living elsewhere, a lockbox will generally be placed on the front door. The listing broker helps arrange showings of the property by various real estate agents from all companies associated with the MLS. The lockbox contains the key to the door of the property and the box can only be opened by licensed real estate agents (often only with authorization from the listing brokerage), by using some sort of secret combination or code provided by the brokerage or the issuer of the lockbox.

Shared Commissions With Co-op Brokers:

If any buyer's broker (or any of his/her agents) brings the buyer for the property, the buyer's broker would typically be compensated with a co-op commission coming from the total offered to the listing broker, often about half of the full commission from the seller. If an agent or salesperson working for the buyer's broker brings the buyer for the property, then the buyer's broker would commonly compensate his agent with a fraction of the co-op commission, again as determined in a separate agreement. A discount brokerage may offer a reduced commission in the event no other brokerage firm is involved and no co-op commission is paid out. If there is no co-commission to pay to another brokerage, the listing brokerage receives the full amount of the commission minus any other types of expenses.

Real Estate Brokers and Buyers - Services Provided To Buyers:

With the increase in the practice of buyer brokerage in the US, especially since the late 1990's in most states, agents (acting under their brokers) have been able to represent buyers in the transaction with a written "Buyer Agency Agreement" not unlike the "Listing Agreement" for sellers referred to above. In this case, buyers are clients of the brokerage.

Some brokerages represent buyers only and are known as Exclusive Buyer Agents (EBA's). Consumer Reports states "You can find a true buyer's agent only at a firm that does not accept listings" The advantages of using an Exclusive Buyer Agent is that they avoid conflicts of interest by working in the best interests of the buyer and not the seller, avoid homes and neighborhoods likely to fare poorly in the marketplace, ensure the buyer does not unknowingly overpay for a property, fully informs the buyer of adverse conditions, encourages the buyer to make offers based on true value instead of list price which can sometimes be overstated, and works to save the buyer money. A buyer agency firm which commissioned a study found EBA purchased homes were seventeen times less likely to go into foreclosure.

A real estate brokerage attempts to do the following for the buyers of real estate only when they represent the buyers with some form of written buyer-brokerage agreement:

Due to the importance of the role of representing buyers' interests, many brokers who seek to play the role of client advocate are now seeking out the services of Certified Mortgage Planners, industry experts that work in concert with Certified Financial Planners to align consumers' home finance positions with their larger financial portfolio(s).

In most states, until the 1990's, buyers who worked with an agent of a real estate broker in finding a house were customers of the brokerage, since the broker represented only sellers.

Today, state laws differ. Buyers and/or sellers may be represented. Typically, a written "Buyer Brokerage" agreement is required for the buyer to have representation (regardless of which party is paying the commission), although by his/her actions, an agent can create representation.

The Impact Of Globalization On Real Estate Brokers' Activities:

Globalization has had an immediate and powerful impact on real estate markets, making them an international working place. The rapid growth of the Internet has made the international market accessible to millions of consumers. A look at recent changes in home ownership rates illustrates this. Minority home ownership jumped by 4.4 million during the 1990's, reaching 12.5 million in 2000, according to the Fannie Mae Foundation. Foreign direct investment in U.S. real estate has increased sharply from $38 billion in 1997 more than $50 billion in 2002 according to Census data.

Most local real estate agents view the foreign market as a significant revenue potential and may have already worked with international clients in their local market, new immigrants or more sophisticated investors from different cultures and from other countries. For example, they are providing value-added services to an overseas relocation employee figure out which inoculations his or her children will need as well as the steps needed to register a car in the United States. Real estate brokers want to keep central to the transaction, protect the best interests of their members and address the unique needs of each multicultural global client by acquiring specialized training and designations.

In 2007 the Mexican Association of Real Estate Professionals in Mexico, AMPI, and the NAR, National Association of Realtors in the US, signed a bilateral contract for international real estate business cooperation. Also at the local level, many other state and local associations are helping other countries achieve the same result. For instance, in New Mexico, a historically multicultural state, under the RANM, Realtor Association of New Mexico and the President’s Advisory Council, is looking into forming an ambassador association to help a foreign country into signing a bilateral agreement with the NAR. In New Mexico, there are 4500 licensed real estate professionals and only 14 or 15 CIPS designees, out of whom, only 6 speak a language other than English.

Education:

A person may attend a pre-license course (often 60 actual hours) and be tested by the state for a real estate agent's license. Chapters of Alison Rogers' book Diary of a Real Estate Rookie describes the author's experience taking a 75- hour pre-license course in New Jersey and a 75-hour pre-license course in New York. Upon passing, the new licensee must place their license with an established real estate firm, managed by a broker. Requirements vary by state but after some period of time working as an agent, one may return to the classroom and test to become a broker. Brokers may manage or own firms. Each branch office of a larger real estate firm must be managed by a broker.

States issue licenses for a multi year period and require real estate agents and brokers to complete continuing education prior to renewing their licenses. Many states recognize licenses from other states and issue licenses upon request to existing agents and firms upon request without additional education or testing however the license must be granted before real estate service is provided in the state.

The Top Real Estate Agents, Brokers, and Listings in the Tampa Market:

The real estate market in the Tampa and Hillsborough county region is attractive to the buyer and seller alike. This fact is due in large part to the professional services offered by top professionals who make up the licensed agents and brokers in the region. These state certified agents and brokers are well versed in Florida requirements as they pertain to the real estate industry. Buyers can select from the top real estate agents and brokers in the region and be assured that their interests will be well represented in the purchase of land or properties. It is not considered a wise move to engage in a real estate transaction without retaining a professionally licensed agent or broker to represent your interests. This website contains a listing of the top 10 real estate agents in the Tampa, Hillsborough county area. If you are looking for the best Tampa Real Estate Agents and Brokers, be sure to bookmark this page. The agents and brokers listed in this area are certified industry professionals who are rated among the best in the real estate markets in Tampa and throughout the state of Florida.

The real estate listings on this page are considered to be among the best listings available in the Tampa and Hillsborough county area. These listings are considered to be prime residential and commercial offerings. Be sure to bookmark this page and return frequently for the finest commercial and residential listings in one of the hottest makets.. Tampa, Florida.