Should I Work With A Buyer's Agent? A Seller's Agent? A Dual Agent?

In the past, real estate agents always represented the seller, whether the agent helped a seller to market and sell a home or helped a buyer find and purchase a home. In other words, agents were at one time legally bound to represent the seller in a residential real estate transaction. In that scenario, the seller paid both the listing agent and the agent who brought the buyer. Today, agents either represent the buyer, the seller, or both.

If you want to sell your home, you can work with a "seller's agent." If you want to buy a home, you can work with a "buyer's agent." Most states require real estate agents to disclose to consumers who they represent. Sometimes an agent will represent the buyer and the seller. A buyer who elects this situation should receive full disclosure on representation. In some states, dual agency affects the real estate professionals fiduciary responsibilities to the seller.

The real estate agent you choose should fully disclose how they work with individuals and the options available to you. Keep in mind that real estate laws differ from state to state and even from locale to locale. For more in-depth answers, talk with a knowledgeable real estate professional and ask about local practices. Be sure you understand and are comfortable with the services of the real estate agent you engage. To learn more on what to ask your agent Click here

Working with a Buyer's Agent

A Buyer’s agent represents the interests of the buyer in a real estate transaction. The

Buyer’s agent’s duties to the buyer are: undivided loyalty, obedience, diligence, disclosure, confidentiality, accountability, and reasonable skill and care.

All duties are fiduciary -- they are owed exclusively to you, the buyer – NOT to the seller.
 
During the search process, the Buyer's agent:

Arranges property showings that meet the buyer’s needs
Provides information that the buyer requests about the home or property, community, taxes, utilities and zoning, or refers the buyer to appropriate information sources 
Discloses any material facts about the property of which the agent has knowledge.
During the offering process, the Buyer's agent:
Prepares a competitive market analysis of the property for the buyer
Counsels the buyer on what price to offer to the seller
Shows what other buyers are paying for property in the area.
Assists in writing an offer with the buyer’s interest in mind
Negotiates the best price and terms for the buyer
Keeps the price capabilities and objectives of the buyer confidential, and maintains anonymity if desired.
During the closing process, the Buyer's agent:

Assists with the loan application process
Monitors all dates, events and requirements for the buyer
Should attend the closing with the buyer.

Anyone buying or selling a home in Connecticut should be sure that the real estate professionals they work with are both qualified to offer services and are licensed by the Connecticut Department of Consumer Protection.

If someone is asking you to pay them a fee of any kind for assisting you in selling or buying a home, they must be licensed as a real estate broker or salesperson in Connecticut. Real estate appraisers and home inspectors must also be appropriately licensed by the Department of Consumer Protection.

From this website, you can check whether a certain individual is properly licensed through the state of Connecticut to sell Real estate. If a person's name is not listed, they are not licensed to provide real estate services in the State of Connecticut.