buyer agency: Beware Buyers and Agents - Know Representation Rules !
- 03/16/16 08:18 PM
Spring is in the air if not quite officially on the calendar...and Buyers in Wisconsin are out in greater numbers driving by for sale signs and going to open houses looking for their happily ever after home. The warmer weather fuels enthusiasm and in our "Thinventory Market" we see signs going from FOR SALE to TOO LATE...SOLD....in record time. Also blossoming, many local boards will tell you, is the number of people...both consumers and agents who in the height of their enthusiasm, somehow forget about the agent that they were working with....Buyer agent or not...and write offers with the … (24 comments)
buyer agency: "He isn't an 'agent of the Seller', it's not his listing," said the Buyer
- 02/19/16 06:01 AM
Sometimes in the Real Estate Business. as in any business...we become so accustomed to the terms and language...we forget that not all Buyers and Sellers have that same degree of understanding. We got a call from a concerned parent who had been looking at homes with his daughter and son in law. He felt the agent was an advocate of the Seller, not the Buyers. "Have your daughter and son in law signed a Buyer agency contract ?" I asked him. He was unsure of what that meant....no contract was signed that he was aware of with this agent. … (8 comments)
buyer agency: Good Buyers' Agents Study History ....
- 02/24/15 05:11 PM
We were referred to a buyer and met with them....pre approval in hand...we discussed the wisdom of Buyer agency and what that brought to the transaction. The buyers signed the contract and we began their search for homes in the area and price range with features they desired. One house was one that they wanted to call home. We looked at the history of the home. It had been listed before by another agent with all kinds of enticing inclusions...FREE warranty....closing cost credit and a Bonus to the agent...these items totaled a healthy four figures but were no … (23 comments)
buyer agency: Agents Protecting Buyers and Buyers Protecting Agent Relationships
- 09/20/13 09:49 PM
Sometimes, relationships are what any of us "Assume" they are...Because we have a Buyer Agency Contract...both parties may ASSUME...it is a mutually loyalty oath that cannot be broken by any outside influence...and out trusty real estate attorney tells us that is not the law in Wisconsin and here are the best ways to protect that relationship in the Badger state. First of all ...know that there are many agents who ask a buyer met at an open house..."Are you working with an agent ? " The answer might be, "Yes...Suzy Smiith of ABC Realty." There are many agents, who … (25 comments)
buyer agency: The Buyers are Out and About...Buyers Agents ....Are you With THEM ?
- 09/19/13 09:54 PM
The market is busier than it has been in many places throughout the country and open house signs dot the landscape on weekends more often than they have in the past. While there is always more than one opinion...legal or not...(or as we say...or there would be one lawyer)....from the pen/keyboard/mouth of our highest and best source....a lawyer who teaches CE for Realtors, staffs the hotline for the state board of Realtors, and owns a title company... has some cautions to offer agents who "assume" that the Buyer is their buyer and also that they will be … (11 comments)
buyer agency: "What do YOU think this house is worth ? " Asked the Buyer.."The assessment is....."
- 05/30/12 09:56 PM
Buyers sometimes assume that if an agent is showing them a house....or even if they meet the agent at an open house...that the agent is working for them...that the Agent can advise them as to the price they should offer...not true...not in Wisconsin....we always qualify our statements since we are only licensed in the Badger State. As licensed Real Estate agents in Wisconsin...agents are licensed as "agents of the Seller"....whether you are the listing agent or an agent showing the house to buyers....you represent the Seller. Soooo many people still want to define a relationship between the assessment and … (5 comments)
buyer agency: Thank You ...We were Proud to be of Service to YOU !
- 05/15/10 02:42 AM
Yesterday set a record for the length of time for a closing for us..3.5 hours. The funding was there...the buyer was prepared....the seller....and her agent ....not sooo much....at least not in our opinion and the opinion of the real estate law firm that we call on for the very able assitance. The seller did not fulfill her part of the contract in having the property in the condition set forth....and agreed to by all parties...in the contract. The phrase "In a workmanship like manner" has taken on every more significant meaning since this closing. You don't hire someone … (13 comments)
buyer agency: Move Forward...Don't Dance in Circles....
- 03/31/10 12:17 AM
We hear agents bemoaning the time they spend with buyers for weeks and miles....and some are the Agent Suzy and Sam types....others more experienced and in an effort to survive a market downturn, go a little toooo far the other way. Comments we have heard lately:
- I know it's not in their price range....they just want to see it (so they know what a house they can't afford looks like ?) - Yes the commute will be over an hour they just want to see that neighborhood (Just in case they want to move again … (10 comments)
buyer agency: "Because I am a Buyer's Agent......"
- 01/30/10 09:30 PM
When you have been a realtor in the same market for a long time, you are likely to run into the same agents...soemtimes we "trade places" and we have the buyer and the other agent the seller and vice versa. One agent, Agent Suzy, believes, that as a buyer's agent, it is her job to take deep discounts on prices without regard to the market. That's fine....the seller always has the option to counter the offer or reject it if they choose. It is our policy, when we have more than one offer, to make all selling agents aware that … (97 comments)
buyer agency: Sooo...You Don't WANT to Show a Short Sale....
- 12/13/09 10:45 PM
Once upon a time in the ever fascinating...always changing...world of real estate....there was an agent with a buyer agency contract who had a buyer looking for condos. The buyer was most interested in a particular complex which suited his needs for amenities and location. His instruction to his agent was to show him ALL the units that fit his criteria. The buyer believed that the agent had done that....and bought a condominium....closed and one always hopes, lives happily ever after...oh not. The buyer learned after closing that a unit that was more updated and in the complex of … (20 comments)
buyer agency: Does YOUR buyer know WHO His/Her Agent is ?
- 08/28/09 12:37 AM
Oh hurray...the buyers are out...the buyers are out....summer vacation is over and in this part of the country, it always seems that the "seasonal buying" period begins a couple weeks after school starts. It never fails...you can hear it in the halls of every broker in town....the buyer the agent thought was "hers or his" just went to...an open house...made an appointment from a sign....knew the neighbor next door to the house they just saw...." and the stories continue. How could they ? They were going to....sign a buyer agency contract...maybe they did...they really, really liked you...you thought...They were bright … (55 comments)
Not sure where this expression came from...it's been around my family for decades and it occurs to me, it can aptly be applied to buyers in real estate. Buyers don't always understand the rules of procuring cause...and indeed having "been there. done that" in arbitration, it depends who you ask and on what day for the interpretation. One would think, I think as most buyers/consumers do...that you could do business with whomever you pleased....and if it turns out you don't like that person....don't judge them to be as capable, don't whatever...it doesn't matter....ya gotta dance with who brung … (3 comments)
Spring is in the air if not quite officially on the calendar...and Buyers in Wisconsin are out in greater numbers driving by for sale signs and going to open houses looking for their happily ever after home.
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