| Who does your real estate agent work for? |
Before you start to visit open houses or call real estate agents to look at their listings, it is important to know
that real estate agents work in different capacities. A "Listing Agent" is the agent who's name is on the "for sale"
sign and represents the seller's best interests.
A Listing Agent can not work in your best interest as a buyer.
Wisconsin has a real estate law called "Procuring Cause". This means that the first real estate agent to show you
a home has rights to earn a commission on that home if you buy it. If you call a Listing Agent and ask them to
show you one of their listings, that agent has a right to maintain you as a buyer although they represent the
seller's best interests. If you start looking at homes with an agent you have randomly called, that agent might
have rights to a commission if you decide to change to a different agent. It is unfortunate that many buyers don't
realize this and get stuck with an agent they don't want to work with.
Before you start to look at homes, you should have an agent representing your best interests.
What Does A Buyer Agency Agreement Mean?
A Buyer Agency Contract means that the Buyer's Agent will:
All This Service - What's The Cost?
There is no charge to you as a buyer for any MLS listed home purchase . The Buyer's Agent's fee is paid by the
listing broker or the seller as outlined by the Multiple Listing Service.
Going The Extra Mile With Buyers
While a traditional Seller's Agent would not withhold important information, a Buyer's Agent has a legal
obligation and commitment to dig deeper into any situation which might jeopardize the best interests of the
buyer. For example, if an inspection reveals a problem, a Buyer's Agent can make a difference. Should the buyer
still wish to purchase the home after the discovery of issues, the Buyer's Agent "goes to bat" for the buyer to
negotiate a fair agreement.
The Difference Is...
A traditional selling agent will work with a buyer, but is required to advocate for the seller's interests.
A Buyer's Agent works for the buyer, advocating for the buyer's best interest... at no charge!
that real estate agents work in different capacities. A "Listing Agent" is the agent who's name is on the "for sale"
sign and represents the seller's best interests.
A Listing Agent can not work in your best interest as a buyer.
Wisconsin has a real estate law called "Procuring Cause". This means that the first real estate agent to show you
a home has rights to earn a commission on that home if you buy it. If you call a Listing Agent and ask them to
show you one of their listings, that agent has a right to maintain you as a buyer although they represent the
seller's best interests. If you start looking at homes with an agent you have randomly called, that agent might
have rights to a commission if you decide to change to a different agent. It is unfortunate that many buyers don't
realize this and get stuck with an agent they don't want to work with.
Before you start to look at homes, you should have an agent representing your best interests.
What Does A Buyer Agency Agreement Mean?
A Buyer Agency Contract means that the Buyer's Agent will:
- Hold the buyer's interests above all other parties in the transaction
- Be obedient to the buyer's wishes
- Disclose material information
- Negotiate for the buyer to get them the best deal
- Disclose material adverse facts
- Give the buyer fair and honest treatment
- Provide accurate market information to the best of the agent's knowledge
- Not give information or advice to other parties unless required to by law
- Help you determine the value for a property
All This Service - What's The Cost?
There is no charge to you as a buyer for any MLS listed home purchase . The Buyer's Agent's fee is paid by the
listing broker or the seller as outlined by the Multiple Listing Service.
Going The Extra Mile With Buyers
While a traditional Seller's Agent would not withhold important information, a Buyer's Agent has a legal
obligation and commitment to dig deeper into any situation which might jeopardize the best interests of the
buyer. For example, if an inspection reveals a problem, a Buyer's Agent can make a difference. Should the buyer
still wish to purchase the home after the discovery of issues, the Buyer's Agent "goes to bat" for the buyer to
negotiate a fair agreement.
The Difference Is...
A traditional selling agent will work with a buyer, but is required to advocate for the seller's interests.
A Buyer's Agent works for the buyer, advocating for the buyer's best interest... at no charge!
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| Buyer Agency |
| Cell: 262-337-0438 Office: 262-754-6400 x1319 Fax: 262-646-6810 Email: kevin@kevinmarkley.com |
First Weber Group Realtors 2750-A Golf Rd., Delafield WI 53018 |
