What is the difference between a Customer and Client when buying Real Estate in CT?
One of the factors leading to our success has been a strict adherence to morals and ethics as well as obedience to State and local real estate laws.
As a Customer I CAN do the following for you…. (A Customer has not yet entered into a written buyer-agency agreement)
- Send you an automated list of properties available in the market place.
- Give you information about our firm
- Give you information about local reputable business people.
As a Customer I CAN NOT do the following for you….
- Show you properties.
- Ask you to disclose confidential information.
- Express an opinion or give advice about particular properties.
- Discuss an offer with you.
- Engage in any negotiations concerning purchase price, terms or conditions.
As a Client I CAN do the following for you…. (A client has entered into a written buyer-agency agreement)
- Form a strategy that will save you time, money, and stress. Home Buying Process
- Provide you with a list of properties and the following about each…
a. Is it overpriced, well priced, a steal or un-saleable.
b. When was the property purchased and for how much.
c. Is there a mortgage and how much is owed.
d. Are there liens on the property?
e. Can the seller reduce their price or are they “Under Water”
f. Improvements to make this property more valuable.
Example of a client inquiry about a specific property.
123 Main St has been on the market for a total of 423 days and was originally listed for $578,000 back in 2009. The property has been reduced 4 times with the last reduction taking place 4 days ago. The property was purchased by the current owner back in July of 2003 for $475,000. It appears as though a mortgage of $465,000 was taken at the time of sale. The property was refinanced back in 2006 for $445,000. It does not appear as though the seller is capable of selling this property at the current market levels without a short sale taking place. We can form a strategy to pursue this property buy most likely this property is not saleable at this time.
3. List properties that are coming on the market but not yet listed in the MLS.
4. Show you any property in the marketplace.
5. Negotiate on your behalf.
6. Walk you through the closing process and protect your interests.
7. Complete an architectural floor plan to help plan for your move.
Posted by Tim Bray on