In the traditional home buying process, a real estate agent who is working with a buyer without an agency contract is, by law, working on behalf of the seller. They will work with the buyer but are required to advocate for the seller’s best interests.
So… how do you get an agent to work on behalf of YOU, the Buyer?
Sign a buyer agency contract.
Signing a buyer agency contract creates a legal responsibility between the home buyer and the agent. It allows your buyer’s agent to work for you, not the home seller.
What are the specific benefits of having a buyer’s agent?
• Having someone working for your best interests. A buyer’s agent can write the offer with terms and conditions to benefit you.
• “What should I offer? Is the home a good value?” A buyer’s agent can prepare an estimate of value for a property of interest and express a professional opinion of the property.
• “What should I do about the home inspection problems or amendments to the offer because of other problems?” A buyer’s agent can negotiate on your behalf, in your best interests, throughout the transaction.
Both traditional agents and buyer agents have certain duties such as to treat you honestly and fairly, disclose “material adverse facts” and assist you in the process to closing. But a buyer’s agent has a legal obligation to dig deeper into any situation which might jeopardize your best interests.
Where can I learn more about First Weber’s buyer agency/buyer representation?
A discussion on agency will be one of the first conversations you’ll have when you talk with an agent. They will sit down with you and discuss the differences in detail. With a buyer agent, you’ve got more help on your side.
You may find additional articles of interest to homebuying in Wisconsin here.
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First Weber sells real estate throughout Wisconsin:Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Southwestern WI Central Wisconsin, Northeast Wisconsin and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com