ROLE OF A BUYER’S AGENT  

          There are two choices:  Selling Agent .. or .. Buyers Agent. 

          So, why should you choose a Buyers Agent over a selling agent?

          If you are working with a selling agent, you have NO CONTRACT, and you ARE NOT THE PRINCIPAL.  The Seller is the PRINCIPAL…meaning the selling agent is an Owner’s Agent.  They must treat all parties fairly; show you properties of interest to you, telll you about potential property defects, suggest when you should consult a professional, and draft the purchase contract “a s    y o u      t e l l     t h e m    t o     do.”

          HOWEVER, when you work with a Buyers Agent, you and the agent sign a WB-36 Exclusive Buyer Agency Agreement that includes a “Disclosure of Real Estate Agency”.  Once again this disclosure lists the fact that all parties are to be treated fairly, the duties that all agents owe to all parties, and the duties that are owed to the “PRINCIPAL” .. or .. “CLIENT” … but this form states that YOU are the PRINCIPAL/CLIENT.  That means we concentrate on you and we help you to get the best possible price, negotiate for the most beneficial contract terms (often getting more concessions from the seller than you normally would expect to receive), and assist you with whatever you need throughout the entire transactions. 

          We owe you a HIGHER LEVEL of agent-client fiduciary duties. To mention a few:

1.     LOYALTY:  We must loyally represent you while avoiding any conflicts of interest, and putting your best interests ahead the interests of any other party.

2.     DISCLOSURE:  We are obligated to make a full, fair … and timely .. disclosure to you of all known facts that are material to the transaction (unless excluded by law).  A Material fact is anything that a reasonable person might feel is important to them in choosing a course of action. 

FOR INSTANCE:

A)     Whether or not there are any other offers

B)     Why the seller is selling, as long as the seller has not stated this information is not confidential

C)      Pointing out defects that are found during our tour of the property or through other means such as “City work orders against the building”, or area changes that are about to take place (if they are known to the public).

3.     OBEDIENCE:  We work for the best interest of the buyer, but must also know how to work with the listing agent to have a win-win situation … in other words, acting in such a manner that the seller agrees to sell and you buy the property you want. 

A)     It is not in your best interest to have an agent who acts in an adversarial manner.  Tension, anger, unreasonable demands do not help you, the buyer.

4.     ONLY A BUYERS AGENT CAN:

A)     Give a negative opinion or critique of a seller’s property beyond disclosing defects.

B)     Recommend or suggest an offering price – or give you an opinion about whether a particular ouse is over-priced or under-priced.  (A seller agent can only say:  Make your best offer, the seller thinks the property is worth what he/she is asking)

C)      We can structure an offer and draft offer provisions with your best interests in mind.

D)     We can recommend and assist you with negotation strategies for the best price and terms.

E)      We can also disclose ALL INFORMANTION AND RESEARCH about a property’s history and any liens against the property so the buyer can make an informed decision. 

F)      The level of ADDITIONAL INVESTIGATION AND RESEARCH varies from agent to agent.  SO, CHOOSE THE AGENT THAT WILL GO THE EXTRA MILE ….  I.E.    ….    “REALTY RESULTS”,  DONNA BELL AND HER “RESULTS TEAM”.

G)     We can give advice within the scope of oru expertise as a licensed real estate agent.

Agents are permitted under Wisconsin Law to conduct what is termed:  MULTIPLE REPRESENTATION.  We DO NOT  do multiple representation.  This means that we are working for both the seller and the buyer.  We do not feel that an agent can represent each party effectively, and it is impossible toprovide full client-level servies and complete loyalty to both parties.  In multiple representation we become MIDDLEMEN in the negotiations, draft contracts to accomplish the intent of the parties and present contract proposals objectively.  (NOTE:  THIS CAN ONLY BE DONE IF BOTH PARTIES AGREE TO IT)

Thus:  We repesent the sellers when you are interested in our in a listed property … and will treat you fairly and honestly and work toward a win-win situation for both parties. 

You will see that we are paid a “FINDERS FEE” … which is similar to a commission.  Buyer can choose to pay this directly to us; however, we normally negotiate with the seller to pay the fee as part of the offer.

SO, NO MATTER WHICH YOU CHOOSE, you will be in good hands … but BUYER AGENCY/REPRESENTATION is the preferred way to buy.