Home Buying in Hartford>Question Details

Question, Home Buyer in Farmington, CT

If you sign with the seller to also be your buyer can you have another agent too. and if so how does it work

Asked by Question, Farmington, CT Fri Jul 31, 2009

regarding the split of profit

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It all depends... you could be moving to a different county or state where the agent representing you in the sale of your property was not knowlegable (or licensed if out-of-state) to do business. If this is the case, your agent could refer you to a buyer's agent. They would then collect a referral fee from the agent who represents you as a buyer and would continue to help with communications to help both your transactions progress smoothly.

There are also agents who represent only buyers. If you met an agent who works in this manner and decided to work with them to buy your new property, they could refer you to another agent to help you sell your existing property (and would usually collect a referral fee from the listing agent for this service), The amount of the referral fee paid is negotiable between the agents and would not normally change the amount of the fee paid by the consumer.

If you have two agents representing you for related transactions, it is key that they are both strong agents who wil communicate well with you and each other.
0 votes Thank Flag Link Wed Dec 30, 2009
Why do you need another agent? Do you have a lot of properties for them to choose from?

Also, wouldn't each of you keep the profit from your own sales?
0 votes Thank Flag Link Sat Dec 19, 2009
In the state of Connecticut, you can have a Seller's Agency and/or a Buyer's Agency Contract. If you were to move to an area that your current Buyer's Agency didn't cover, they may refer you to another Agency for assistance. They would still be able to consult with, and assist the new agency on your behalf.
0 votes Thank Flag Link Sat Dec 19, 2009
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