Buyer brokerage is not only the law in Connecticut; a buyer's agent will also represent the interests of the buyer in a real estate transaction. 

If you're looking to spend a few hundred thousand dollars or more on a place you call home, why wouldn't you want a dedicated agent? The buyer's agent's responsibilties to the buyer are: undivided loyalty, obedience, diligence, disclosure, confidentiality, accounting, and reasonable skill and care. All duties are fiduciary: they are owed　exclusively　to the buyer, NOT to the seller. The buyer's agent works for the buyer-client and has the buyer's best interests in mind.

The number of real estate professionals practicing buyer representation is swelling in response to consumer demand for representation in today's home buying marketplace, according to the Real Estate Buyer's Agent Council (REBAC) of the National Association of REALTORS®.

Just as a seller's agent is hired to obtain the price and sale terms sought by the seller, a buyer's representative is hired to get the best possible price and terms for the buyer. When choosing a buyer's agent, ask for recommendations, visit real estate offices, discuss expectations for both agent and yourself, and choose an agent you're comfortable with.

In buyer representation, a real estate professional is paid to represent the buyer in a real estate transaction. The buyer's representative and the buyer negotiate the fee for service. The buyer representation agreement sets forth how the buyer's representative will be compensated. Compensation for the buyer's broker is paid by the listing broker, the seller, or by the buyer directly. The fee is negotiable.

NAR recommends that consumers entering into a buyer representation agreement consent to the terms of compensation and sign a written agreement based on these terms before they start to view properties. The agreement should spell out the responsibilities of both parties throughout the real estate transaction. The contract must have a beginning date, an ending date, and be signed by all parties to the contract.

In some states, legislation has been enacted to further protect the buyer; for example, if there is no written agreement, the agent automatically represents the buyer throughout the real estate transaction.

Buyer representation goes beyond just negotiating prices for homes.

A buyer's representative might negotiate with the seller for a smaller deposit, for all closing costs to be paid by the seller, or for other contract terms more favorable to the buyer.

Buyer brokerage assistance may include helping the buyer obtain third party assistance, such as legal counsel to review proposed contracts, or an inspector to conduct a structural inspection of the property. A buyer's representative is loyal to the buyer's interest. Clearly, the service and expertise provided by a buyer's representative are what the home buying public wants and values.

Buyer representation services begin with needs assessment, leading to a search for the right property and continuing to negotiations for the best price and terms, right through to completion of the transaction and beyond.

Realtors are trusted advisors and skilled negotiators as well as the consumer's source of unparalleled market knowledge. Visit our web site at easternctrealtors.com.