In the state of Connecticut we have a thing called “Buyers’ Representation”. This is not standard in NY state and is often misunderstood by people moving out of NYC and their lawyers. Some real estate agents tell prospective buyers that it is a requirement in Ct that paperwork be signed before they can be shown homes.
While that is not the case, there is a really good reason why a prospective buyer might want to sign it….real and legal representation. Without this document signed, a realtor’s fiduciary responsibility belongs to the seller. Any and all information that an unrepresented buyer tells the realtor showing them homes, can and should be shared with the seller. It is also the realtor’s job to get the seller the highest price for their home without concern for the buyer. With a buyers’ representation signed agreement, the realtor is now bound to keep all your personal information confidential FOREVER and to try to get the buyer the best possible deal on the home during negotiations. Seems like a no brainer.