THE TRADITIONAL BUYING PROCESS
Stuart Utley has always been committed to providing excellent service to his customers. That is why the traditional real estate buying process has worked successfully for so many years. The traditional method of purchasing a property works like this: both the real estate agent who lists the property and the agent who sells it are working for the seller.
If you are using the traditional method, I will:
- Treat you honestly and fairly.
- Provide information on available properties.
- Provide resource information in response to your specific inquiries.
- Schedule appointments and accompany you on the tour of properties.
- Disclose "adverse material facts" about the property and its habitability.
- Orient you to current market conditions.
- Provide community data.
- Explain local real estate practices and procedures.
- Provide detailed information on selected properties that meet your needs.
- Respond honestly and accurately to questions concerning the property.
- Assist you in drafting and submitting an offer to purchase.
- Provide you with a list of professionals for home inspection, pest control, financing and real estate closings.
- Exercise reasonable care and skill in monitoring the transaction.
- Accompany you to the closing of your property and assist you throughout the process.
|In Wisconsin, the default situation for an agent working with a buyer, is "seller agency." In other words, if you do not otherwise enter into a specific written agreement, the agent working with (but not for) you the buyer, is representing the seller. Thus you as a buyer are not being represented. The agent legally cannot give you opinions of value, or negotiate for your best interests in a transaction to the detriment of the seller.
Buyer agency is very popular in Wisconsin. However, a written agreement is required to create this form of agency so that the buyer agent can legally provide a far greater depth of service
Only a buyer's agent can provide experienced opinion of homes and value, interpret data, negotiate for you and be your counsellor and/or advocate. This is especially beneficial and highly recommended when you are buying in a new area or buying your first home. Typically, a buyer working with a buyer's agent sees more and better homes, is able to buy quicker and with less worry or hassle
As real estate transactions have become more and more complicated, some buyers have expressed a desire for an additional level of service, one in which the agent represents the buyer as an exclusive agent. Therefore, you have the option of choosing the benefits of Buyer Representation.
Here are the additional services a Buyer's Representative can offer you:
- Show you properties on the MLS and more, such as those for sale by owner.
- Critique properties and floor plans.
- Reveal the length of time the property has been on the market and the existence of other known offers or counter offers that have been made on the property.
- Research and provide market data to determine the value of a property.
- Represent YOU in the purchase negotiations. Recommend negotiation strategies.
- Work to obtain the best price and best terms for YOU.
- Work in the best interest of YOU, the buyer, subject to duties of fair treatment owed to all parties.
- Buyer Representation can be especially helpful to any buyer who feels the need for additional support through the purchase process. First-time buyers, busy professionals, and families moving to town from other cities, have found this service particularly beneficial.
I can open up a greater share of the market and save you time, effort, and often: money.
Click here to learn how you can put my hard earned reputation to work for you.
TERMS YOU SHOULD UNDERSTAND
Buyer Representation/Buyer Agency: Some buyers retain a broker to act as an agent representing the buyer. Such a buyer broker is an agent of the buyer, and not of the seller. A buyer broker and the sales people working with a buyer broker represent the buyer's interests and owe duties of loyalty and faithfulness to the buyer, but are obligated to treat all parties fairly.
Seller Agency: A seller broker is an agent only of seller, not of buyer. The seller broker and sales people working with a seller broker are representing the seller's interests and owe duties of loyalty and faithfulness to the seller, but are obligated to treat all parties fairly.
Multiple Representation: A broker may act as agent for both buyer and seller. This is called dual agency or multiple representation. A broker may act as a dual agent only if both seller and buyer consent to the dual agency. A broker acting as dual agent represents both seller and buyer, and owes both seller and buyer duties of loyalty and faithfulness. A broker acting as dual agent has the duty under state law to disclose material adverse factors affecting the property to both seller and buyer. As a dual agent, broker will provide information and advice to both parties, but will not place the interests of either party ahead of the other. During negotiations, broker will prepare approved forms to accomplish the intent of the party making the proposal. Broker will present the proposal in an objective and unbiased manner, disclosing the proposal's advantages and disadvantages. Broker shall not disclose confidential information of either party unless required by law.