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
- 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:
|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
||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
|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
|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
|Negotiate the terms of the offer with the buyer's
best interest in mind.
|| Must represent best interests
|Keep situation, motivation, and thoughts confidential
unless authorized to disclose by the law
|| Must disclose all information
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.