I don’t want a relationship…I just want to date for a while!
Understood, that is reasonable, people should have the opportunity to get to know each other before committing to one person. If we are dating then we should start by hanging out and having fun, no commitment, and no pressure. In fact, except for your family, it is generally understood that we will get to know each other over time and during that time decide to what degree we want to commit to each other.
So when a Realtor that you meet for the first time puts a three page, in triplicate, document in front of you and says “sign here so we can go out”, you might feel a little put off or guarded about this pressure to “commit”. But know that she is just doing her job. She wants to work for you and ultimately find you the house of your dreams but the State of Connecticut has stated that in order to do that she has to first explain “agency representation” and have you acknowledge that she is working for you.
Agency representation was created in the late nineties because the State recognized real estate transactions as having the potential to be one sided with everyone working on behalf of the seller. In most cases, the seller has agreed to pay a commission to the listing agency who then offers a portion of that commission to the agency who brings a buyer. This is still how it works today but the laws of agency relationships were established in order for the buyer’s agent to have fiduciary responsibilities to the buyer—a “relationship of trust and confidence, as between trustee and beneficiary, attorney and client, principle and agent.”
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