When purchasing Northern Wisconsin property you may want to ask for Buyer's Agency. Northern Wisconsin has some built in challenges that if you, as a Buyer, are not too familiar with may cause you a bit of head scratching. I really feel like in my real estate business in Northern Wisconsin I am selling dreams and helping families make memories and in this market I want to be able to help my buyer's to make certain they are confident in their purchase and are buying no surprises. For this reason I always discuss Buyers Agency with buyers before getting to far along in the home buying process.
In Buyer's Agency the REALTOR and the buyer 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. I think of it as "listing" the buyer as I list a seller when I list their home for sale.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.
- Disclose all information and research a property's history and liens so the buyer can make an informed decision.
- Give advice within the scope of the agent's expertise as a licensed real estate professional.
It is importanct to point out that your REALTOR whether they are working as a buyers agent or sellers agent owe you, the buyer, honesty surrounding any negative factors affecting the property. However, representing the buyer means the ability to give and interpret comparable sales and pricing information. When working with a buyers agent you can simply give an opinion on pricing where a sellers agent simply cannot. This can be very helpful for people purchasing in a market they are unfamiliar with, like ours in Northern Wisconsin where secondary homes are a large part of our market.
So, call your local REALTOR for more information on Buyers Agency and see how they can assist you! In an economy like this a service like Buyer's Agency can be more beneficial than ever. So, when looking to invest in Northern Wisconsin property call a local expert and don't miss this local resource for all buyer and seller information as well as all listings!!
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