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In the surrounding Eagle River WI counties of Oneida and Vilas when you look at real estate don't be afraid to ask about Buyer's Agency

By Julie Winter-Paez

Real Estate Broker/Owner with Re/Max Property Pros LLC

March 03, 2011 07:43 AM

The sweet smell of spring was in the air momentarily in the Northern Counties of Vilas and Oneida last week and for ONE lovely day this week, and with that joy I am excited to see our showing book begininning to fill with listing appointments. In Eagle River Wisconsin as in all of Wisconsin, Buyers Agency is something you should be talking with your local real estate professional about either before you first get in the car with them or shortly after! Who's interest are they representing when you start asking the hard questions. Below is some brief information regarding Buyer's Agency that you should read through. You can also feel free to click here to view my videoblog about this same issue.

Again in the surrounding Eagle River WI counties of Oneida and Vilas when you look at real estate don't be afraid to ask about Buyer's Agency!

In Wisconsin, a homebuyer can choose to work with a buyer's agent or a selling agent. Either way, your agent is a specially trained professional, licensed by the state of Wisconsin, who is obligated by law to treat all parties to a real estate transaction fairly.

Selling Agent

If you work with a selling agent, there is no contract between you and the agent, and you are not the agent's client. You will, however, receive a Broker Disclosure to Customer form that lists the fair treatment duties owed to you and indicates that the selling agent is either an agent of the seller or an agent of the listing broker (subagent).

Buyer's Agent

If you work with a buyer's agent, you are the buyer's agent's client. You and the buyer's agent sign a WB-36 Exclusive Buyer Agency Agreement that includes a Disclosure of Real Estate Agency. The Disclosure lists the fair treatment duties owed to all parties and the duties owed to you as the client, and indicates that the buyer's agent is the agent of the buyer.

The buyer's agent works for the interests of the homebuyer, but also must know how to work with the listing agent. A buyer's agent can:

Give a negative opinion or critique of a seller's property beyond disclosing defects.
Recommend or suggest an offering price or give you an opinion about whether a particular house is priced too high or too low.
Structure the offer and draft offer provisions with the buyer's best interests in mind.
Recommend and assist the buyer with negotiation strategies for the best price and terms.
Research and disclose all information and research a property's history title and liens so the buyer can make a better informed decision.
Give advice within the scope of the agent's expertise as a licensed real estate professional.

So again in the surrounding Eagle River WI counties of Oneida and Vilas when you look at real estate don't be afraid to ask about Buyer's Agency!