CT real estate agent info

September 17, 2017

Useful thoughts….

http://stephaniegosselin.com/understanding-connecticut-agency-law/

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The Buyer Representation Agreement is with a firm
A Buyer’s Agent…
Assists in making an offer with the buyer’s interests in mind by showing what other buyers are paying for similar properties in the area.

Dual agency occurs when a Buyer’s Agent shows a property to a buyer that is also represented by that Realtor’s firm, or when the Listing Agent shows real estate to a buyer who is also represented by the same firm.
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http://www.ct.gov/dcp/cwp/view.asp?q=423310

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When you hire an agent to help you buy a home, the agent must be working for you — and only for you.
Every real estate agent’s commission is negotiable. There is no set percentage or commission to which an agent is entitled. Before signing the contract, you can ask the agent to take a smaller commission than what he or she proposed. …
The duration of your agreement with the agent is also negotiable. ….
he contract must have a beginning date, an ending date, and be signed by all parties to the contract.
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http://www.nytimes.com/1997/05/11/realestate/new-law-to-change-broker-client-relationships.html

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”If the seller refuses to pay the commission, even though he agreed to it when the listing was taken,” Mr. Halsell said, ”the buyer is liable for it and he can bring down the price of the house by that amount. It’s not a good situation.”
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http://www.ctrealtors.com/mt_consumers/selectingARealtor.shtml

https://www.thebalance.com/should-buyers-sign-exclusive-agreements-with-an-agent-1798310

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Should You Sign an Exclusive Agreement?
Little turns off buyers faster than an agent they’ve looked up online who emails a buyer’s broker agreement before they meet in person. …
Interviewing a real estate agent can help to ease a buyer’s
uncertainty. But many buyers are leery of signing agreements because they are concerned that the relationship might not work out. They don’t want to be stuck with a crummy agent, and that’s understandable. …

Ask for Short-Term
The term of a buyer’s broker agreement is negotiable. Although many agents might request a 90-day commitment at a minimum, you are free to ask for a 24-hour, seven-day or 30-day term; it’s whatever you can negotiate.

Request a Nonexclusive Agreement
These agreements provide compensation to the agent if you switch agents midstream but end up buying a home introduced to you by the first agent. …
Compromise
You can tell the agent that you prefer to spend a little time getting to know her before signing an exclusive buyer’s broker agreement. It’s reasonable to say, “Let’s spend an afternoon looking at homes, and if I think we can work together, I’ll sign an agreement with you before we go out again.”
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