Worthy Witness

Thinking of purchasing a home this year?  If so, it’s one of the most important buys of your lifetime.

Are you a first-time home buyer or looking for a vacation home in Litchfield County?  If so, you should consider the services of a buyer broker, an agent whose fiduciary responsibility is given solely to you as a client, representing your interests only.

 You’re probably wondering if it costs more to have your own agent than using the seller’s agent, is that right?  Commissions for the sale of a home are always built into the purchase price of the home so it is reasonable to say that the buyer pays for the total commission that has been set by the seller.  Seller will receive that amount less in his closing proceeds.  So, to recap, the buyer pays the commission in his/her accepted offer, and the seller’s proceeds are less that amount, usually split between seller and buyer agents.

Is there upfront money that I pay to have a buyer broker represent me.  All agents with a Listing, whether it be from Seller or Buyer is entitled to commission as written in the Multiple Listing Service, and will be paid on the day of closing.  After explaining to you a disclosure on the types of agency in Connecticut, and having you sign a document that you are not presently under contract with an agent, you and your buyer agent will discuss services. Prior to showing you listings, an agent is required to have you sign an exclusive Buyer Agency Agreement for a specific property or types of properties in one or more areas for a specified period of time.  That time can be one day, 30 days, or a year; whatever you feel comfortable with.  I generally prefer a face-to-face meeting with potential clients to see if there is a fit.  If so, I recommend a 30 day trial when both my clients and I look through listings to find those to see.  My listing with clients say that I am entitled to commission paid through the multiple listing service, no more.

I just want to see the house.  Will you show it to me?  Because of all of the home sites: Zillow, Realtor.com, Trulia and others, you have found the house of your dreams and want to see it now.  Is that right?  I recently cancelled all of my lead-generating contracts. Why?  Because many of the people asking for information gave phone numbers that didn’t work, and those who did answer a call back didn’t have pre-approval from a lending institution, and even worst, did not know how much mortgage they could handle.   Yes, I can meet you at the house, but we have paperwork to do prior to seeing the house, so in your car or mine or the comfort of my office or the coffee shop.

So, where do you stand?  do you want an agent to represent you and your interests?  Would you like help in finding the house of your dreams; an agent who can give you a market analysis and show comparable sales so that you can make an informed offer; an agent who will negotiate on your behalf giving out only information that you have agreed to provide…An agent whose phone and e-mail and text is open 24/7.  An agent who has nearly 40 years experience as a broker and for a time was a property appraiser.  An agent who will work with your bank, your inspector and your attorney from day of offer until closing, renegotiating if necessary.   If so, you want a broker to represent you, the buyer.