Connecticut Real Estate
Relocation to Connecticut
Assisting relocating buyers is a significant segment of our business. Relocating buyers need to understand their options quickly and need an agent that is dedicated to helping the them buy well. Because they are unfamiliar with the area, they are particularly vulnerable. We work hard to reverse that, directing buyers new to the state to the primary information they need to make the choices meaningful to them. We also provide meaningful comparable sales information that assists them in knowing the market (without the need to depend entirely on the opinions of any new Realtor they have only recently met....including us). We will show them all their options.
Our work with your relocation may start well before you arrive. Much of the important homework can be done with our guidance over the Internet. This preparation can save substantial time when you arrive. We will assist you in getting to know our regions, towns, and schools. We will help you find the community you most enjoy, by helping you to contrast the various options in your price range. We will help you resolve special need issues that may drive your decision. We will work methodically with you to help you consider the widest possible pool of potential homes, while helping you learn and understand the local values. We assist in the negotiation of the home purchased, faithfully disclosing to you all that we know.
Relocation companies assist corporations with the moving details of their employees. The corporation is paying for this as a benefit to the employee, to soften the difficulty of the relocation the employee has to accept. Relocation companies sometimes strongly suggest which real estate company they would like you to use when you move here. They may have an arrangement with the company to pay back the relocation company 30% or thereabouts of their fee, and they like to collect that when the can. This "employee penalty referral" differs from referral fees, which are a common practice in our industry, but which are nonobligatory and not enforced by a threat against the employee.
ONCE YOU HAVE CHOSEN TO WORK WITH AN AGENT (SIGNED A BUYER'S AGREEMENT), the relocation company or corporation (whichever is acting as the agent asking for a referral fee), cannot threaten to reduce your benefits because you have chosen an agent other the one on their "approved list" (a list of agents willing to pay back the percentage). To take any harmful action against you (now the client of another agent since you have chosen an agent by signing) is illegal. It interferes with the agency relationship between you and your buyer's agent, which is not permitted under the law. It is illegal in CT to threaten to reduce an employees' benefit in this way, but it happens. If you are firm with the relocation company, our experience is that the relocation company will comply with law (although because they are typically national firms, they may not be aware of it). The relevant law is below. Here is the relevant statute, known as the "Connecticut Decision" .
If you are a high-ranking member of your corporation, you will likely never encounter this issue. It is the job of the relo company to assist the buyer, and selling their right to choose an agent to the highest bidder is an unfortunate aspect of the industry. It can be counter to the intent of the corporation, which is ultimately seeking a happily established employee. Typically we find that high-ranking members of the corporations are not subject to this.
You may also be working with a relo package from your company that does not suggest you work with any particular agent. We are seeing more and more of this.
We are here to help all relocating buyers, do not hesitate to call and discuss your situation with us, whatever it is. We are happy to discuss the options with you.
BUYER'S REPRESENTATIVE LLC
Exclusive Buyer's Agents (EBA)
www.BuyCT.comAfter-hours calls welcome:
Greenwich: 203-637-3200 Farmington: 860-674-0345
Litchfield County: 860-379-2664 Statewide: 203-REALTORThe Buyer Broker with Success in 90+ CT Towns