Greenwich Real Estate Basics
Buyer Agency
On June 1, 1997, Connecticut mandated that Realtors represent either the buyer or the seller, but not both (unless dual or designated agency is disclosed and agreed to by both parties) in the same transaction. Buyers like being represented by their own Realtor because their Realtor can tell them what they think a house is worth and provide excellent guidance through the real estate process. This extra protection costs the buyer nothing because the buyer’s Realtor is still paid by the seller. In the first meeting, the buyer signs a representation agreement with their Realtor much the way a seller signs a listing agreement with their Realtor.
Greenwich Association of Realtors (GAR)
40 East Elm Street, Greenwich CT, 203.869.0240
Executive Vice President, Stacey Loh
www.greenwichrealtors.com
When many other towns gave up their local boards, Greenwich did not. Greenwich has an outstanding organization devoted to local real estate. This service is funded by the over 800 active Realtors in town and is extremely helpful to homeowners and buyers. Member Realtors follow a strict code of ethics. The Association is governed by a 9-member board elected by their peers. Carolyn Anderson is Vice President of the Greenwich Association Board. You can use the Association site to search for Realtors by firm or by name. The Association is the home of the Greenwich MLS.
Greenwich Multiple Listing Service (MLS)
It is important to understand how Greenwich real estate works. Unlike New York City and many other locations, Greenwich Realtors share their listings. In Greenwich all properties, with rare exceptions, are multiple-listed with the Greenwich MLS. To buy property in Greenwich, you need to select one Realtor you like and trust. You will have access through your Realtor to the entire market.