Stamford Connecticut Real Estate MLS Listings, Stamford Homes, Condos, Townhouses for Sale, Home Buying advice by local Stamford CT real estate agent Lena Getman.
Lena Getman - real estate agent servicing Stamford CT

How To Make Sure Your Stamford Real Estate Agent Represents YOUR Best Interests!

There is a HUGE difference for you (often thousand dollars and/or lots of stress) between working with a Real Estate Agent, being represented by the Real Estate Agent, and having your Stamford Real Estate Agent protecting YOUR best interests.

Some of the Biggest Mistakes the Connecticut and Stamford Homes, Condos, and Townhouses Buyers Make Are:

1. Buyers don't understand the roles and duties of real estate agents, especially who represents whom in your next Stamford real estate property purchase.
2. Buyers may innocently disclose confidential and material information about their needs and financial abilities to property sellers and their agents.

Here is why:

When you're calling on Stamford homes advertised on the Internet and newspapers, or going into an open house, you are dealing with agents that represent the sellers! All Stamford real estate agents and brokers and salespersons represent the property seller, not the buyer, in the marketing, negotiation, and sale of property, unless otherwise disclosed. They are called the listing agent, seller's agent, or dual agent! The home seller has employed this agent to sell a home, condo, or townhouse and represent his or her interest. They are paid by that seller and have strong legal and ethical obligations with that seller. They may work with you and must treat you honestly, but they are limited in helping you with the negotiations for that property!

Any Stamford real estate property seller will have professional representation... Will your best interests properly represented in your next Stamford real estate transaction?

The agency relationship is based on one person representing the interests of another person. Before the "Law of Agency" was changed in Connecticut in 1993 both the listing agent who was hired by the sellers and the selling agent who worked with a buyer represented the interests of the seller.

Today you may hire your "Buyer Agent" to represent you and it won't cost you a dime. Sellers still pay the commission but it is paid to the brokerage of the listing agent. That brokerage in turn pays half of the received commission to the brokerage of the Buyer's agent.

Please be advised that if you have not formalized the agency relationship with your agent by signing the Buyer Agency Agreement your agent still have a legal responsibility to represent the best interest of home sellers.

There are many benefits to the buyer to hire a Buyer's Agent. Here what should you expect from your Buyer's Agent:

  • Loyalty - act only in your best interest and to be totally committed to the Buyer and maximizes the effort on your behalf.
  • Obedience - carry out your all lawful instructions.
  • Disclose to client all material facts of which he or she has knowledge which might reasonably affect the client's rights and interests.
  • Confidentiality - keep all information provided by you as a client confident. This means that any information that you provide to the agent can not be communicated to the seller.
  • It guarantees the strongest possible protection of the Buyer's interests, privacy, confidentiality, and loyalty to the Buyer and saves their money during negotiations.

Here're a summary of the comparative services and benefits provided by Buyer and Selling Agents:

Services Provided Seller Agent Buyer Agent
Advising. Assist the buyers in acquiring and interpreting information about the property and its condition.
Arrange property showings
Assist with financing. Recommend a lender and attorney. Advise about financing options.
Provide property data and disclosure
Explain forms and agreements
Managing the transaction. Guide the buyers through the transaction and help ensure the closing stays on schedule.
Coordinate each step of the transaction to closing. Monitor escrow and closing
Negotiating. Keep your bargaining & financial position confidential. Help the buyers arrive at a realistic offer for the property and assist them in planning a negotiating strategy. Must inform seller of unfavorable conditions affecting your buying ability
Provide you with information and guidance to help you make an informed decision about the "right price. Prepare property CMA  
Work on your behalf to find the best home for your needs including MLS bank foreclosures, FSBOs, and new construction  
Promote & Protect your best interest at all times  
Advise and educate the buyer about different options, including pointing out the reasons NOT to buy. Seller's Agent has a duty to promote that particular house.
Arrange and coordinate all home inspections.  
Disclose all information about property history & liens  
Negotiate the lowest price possible and best possible terms. Negotiate the best deal for you. Structure the transaction to your advantage. Must negotiate the best deal for seller
Negotiate the terms of the offer with the buyer's best interest in mind. Must represent best interests of seller
Keep situation, motivation, and thoughts confidential unless authorized to disclose by the law Must disclose all information to seller

I prefer to work with my buyers as a buyer's agent. What does this mean? Simply, that I work for you, not the seller.

If you do not sign up for buyer agency in Connecticut, the real estate agent that you are working with actually is a sub-agent for the seller. This means that any information that you provide to the agent can be communicated to the seller.

At the same time client has a full exposure to the entire market of available homes because I constantly visit open houses for brokers and have full access to all properties that are listed on MLS

As a buyer's agent, I work for you exclusively, and we avoid the conflict of interests. I research the property finding out all the information to negotiate a better offer for you and answer all the important questions about the Stamford real estate property that you may have. It is a FREE service to you!

Home buying is something most people do infrequently and the Stamford real estate market situation and the laws are constantly changing. Buying a house is likely the largest investment that you'll ever make. Considering the size of the transaction let me ask you a question. Would you go to court without the help of your lawyer? Would you invest large amount that is comparable with the price a home without an advice from a professional financial planner?

Your next Stamford real estate transaction is not different - getting the guidance of a professional is critical. So when you become serious about buying a next home, condo, or townhouse I would suggest to consider hiring a buyer's agent to represent you. The brokerage fee is paid by the seller... they are paying for your peace of mind.

 

This site features Stamford Connecticut Real Estate, Stamford homes for sale, Stamford condos for sale, daily e-mail updates of all new MLS real estate listings in Stamford CT, Stamford Home values, Relocation to Stamford CT. Thinking about buying a home, condo, other real estate property or in Stamford, CT? Find here the real estate tips and information from a local Stamford CT real estate agent Lena Getman.

This site is not intended to solicit Stamford home buyers currently under contract with another Connecticut Real Estate Agent, Realtor, or Brokerage. The real estate listings, homes for sale in Stamford and other related information are deemed reliable, but are not guaranteed and should be independently verified