Why Should Home Buyers Be Represented?

 Prior to legislation creating Buyer Representation, the adage ‘Buyer Beware’ was in full force. When a Buyer was shown a property by a real estate Agent, the Buyer may have assumed that the Agent was working for him; in fact, the Agent was looking out for the Seller’s interest. 

 

On June 1, 1997 Connecticut Real Estate Agency law changed to address this fundamental inadequacy of the existing law.

 

In order to protect Buyers, the law allows the Buyer to be represented by an Agent. The Agent’s responsibility to the Buyer is based on state law and the REALTOR Code of Ethics. The relationship between the Agent and Buyer is a fiduciary relationship – the Agent owes the Buyer confidentiality, loyalty, disclosure, diligence, obedience, accounting, and reasonable care.

 

The Agent can show a represented Buyer any Connecticut property, point out material problems that the Buyer may not notice, research recent comparable home sales, give advice on offers, and negotiate terms and conditions on the Buyer’s behalf.

 

While the advantages of being represented are significant, some Buyers just want to see a property without obligation to work with a single Agent. In that case, the Buyer may sign a one-day/one property agreement to limit their obligation while being adequately represented for that showing.

 

In the event that a Buyer opts to be unrepresented, they may sign an Unrepresented Person form with the Agent. That Agent may show the Buyer homes listed by that Agent’s Broker, however, the Agent will be representing the Seller.

 

Buyer Representation gives the Buyer the benefit of working with an Agent who will represent the Buyer’s interest.

Written by Donna Hansen Scymanski, REALTOR, Calcagni Associates

Join The Discussion

5 thoughts on “Why Should Home Buyers Be Represented?”

  • jserrano

    This is an interesting post. We bought our first home in Massachusetts in 1995. All through the process, I was under the assumption that our real estate agent was interested in our welfare. When we signed the paper about intending to buy the house, she told us that she represented the seller. When we needed to come up with an offer, she could not or would not help us. I felt very misled and resentful at the time.

  • Donna

    I hope in the future you have a better real estate experience. It can be a positive one. Having someone representing your interests helps. Thank you for your comment.

  • Donna

    Thank you for your response. The buying process can be a positive one and I hope your next transaction is based on trust and loyalty.

  • South Riding Homes

    Great post, buyers agents should be representing the client not the commission

  • tyler

    Having representation is almost always the best way to .

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