January 05, 2009

Putting yourself first with Buyer Agency

Posted to Geneva Lake Area , Mike Pfammatter

You’re out with a real estate agent looking at beautiful Lake Geneva area properties. You and the agent have put together a list of homes to see, and they have printed a nice brochure and a detail sheet for each of them. You ask questions as you walk around the properties. The agent has answers to some of them, and promises to get back to you on a few others. You ask them “why are they selling?” Did you ever stop to wonder who the person you’re dealing with is really representing? Logically, since you called them to show you homes, you would think they are your representative. In the state of Wisconsin, this would not be the case! The agent is working for both of you, but the rules require an additional step on your part to have them represent you above the seller.

Licensed Wisconsin Realtors are required to treat all buyers and sellers with fairness & honesty. They must share information about major defects, provide you with accurate market data, and can negotiate on your behalf. You can successfully go all the way through the buying process without doing anything different. But, if you want your agent to be able to offer a professional opinion on that data, or be able to answer questions with your interests put first, you need to ask them to be your “Buyers Agent”. Click here to view a chart that helps show the differences in the types of representation.It’s simple enough to arrange, all you have to do is request it. There is a state provided agreement that puts you in the position of being the agent’s client. They will now be able to act as your advocate. In return, the agent will ask you for your loyalty as a customer. The state has produced a pamphlet on this subject. Follow this link to see it or contact me and I’ll send you one. For more information, why not give me a call at 262-348-3248?

Posted By: Mike Pfammatter

Leave a Comment