Buyers. In the state of Connecticut a Realtor can only show you property listed through their agency without having you sign a Contract to represent them. Although, if you decide that you do not wish to sign a contract even to see their company listings, then you must sign a “Notice to Unrepresented Parties”, acknowledging that you are not represented and the Realtor represents the Seller. However, it is in your best interest to be represented. You have options. You can sign a contract for a specific town or for a specific address for any length of time. If you do not know if you want to work with a certain Realtor, sign a contract only for the properties that you see with him or her.
Sellers. A Seller must be represented if they decide to work with a Realtor. Again you have options as to how long you want to be represented, but take into account that the Realtor and Brokerage firm are spending their time and money to advertise and promote your property. Be loyal; Your Realtor wants to sell your property as much as you do.
Landlords. If you have a rental property, sometimes it is easier to have the Realtor deal with the headache of running the credit check and calling references. As a Property Manager myself, I understand the stress of finding a suitable tenant. Not all Realtors like working on rentals properties frankly because it is a lot of work for very little money. I do, however, because understand the process first hand.
Renters. Renters typically sign an “Open Right to Represent” contract. This means they are free to find property on their own without any penalties, but if the Realtor finds suitable housing for their client then they will represent them in that transaction. We do this because only about 40% of rental properties are listed through Brokers.
