In Connecticut all real estate sales practitioners, like many professionals who deal with consumers, must be licensed by the State Department of Consumer Protection. In addition, all aspects of a real estate transaction must be contracted to be legally binding. Contracts are designed to protect the consumers, both buyers and sellers of real estate.
Real estate salespersons (agents) in Connecticut therefore can be either buyer agents or selling (called listing) agents. Real estate agents in Connecticut can also serve as dual agents on the same transaction as long as notice is given to both parties and both parties agree. Real estate agents can also work with rentals, again, for either potential tenants or with landlords.
Most residential real estate agents are well versed in working with both buyers and sellers, but what they do in each type of transaction is quite different.
Whether a person is a first-time buyer or a several-times buyer, the goal remains the same: To find a home that is secure, safe, and satisfactory to the needs of the future resident. The home buying process can be stressful and fraught with obstacles, but an experienced and calm real estate agent can relieve much of the pressure and anxiety of the process by serving not as a salesperson, but as a coach or advisor through the process.
A good real estate agent first determines the needs of a buyer. A real estate agent may have to tease out from the buyer what is a need versus a want, and that process can be extensive or quick. Besides size of house, size of lot, number of bedrooms and number of baths, a home buyer needs to suggest locations. With these parameters set, a real estate agent sets up a search and then begins the process of showing properties to the buyer. The actual live visits to houses are both exciting and educational, and a good real estate agent is careful to both nurture the enthusiasm and instruct about the property.
The process of home buying is lengthy, and besides the real estate agent, many partners become part of the process. Unless the buyer comes to the transaction with ready cash, the most important person is the lender (loan officer, mortgage specialist). This partner in the process works closely with the buyers and the real estate agent to marshal the sale to its completion. Other partners include the home inspector and the closing attorney (in some states, the title company).
The seamless and smooth partnership among the teammates and the knowledge and experience of the real estate agent can make the process less stressful for the buyers. Ultimately, the goal of all parties is mutual: To find a client a home.
To learn more about the home purchase process, please contact Peter Leeds, who will share additional details to help you start the process of achieving your real estate goal.