Buyer Agency
In Wisconsin, a home buyer 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 Disclosure
of Real Estate Agency form that lists the fair treatment duties owed to you
and indicates that the selling agent is the home seller's agent.
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 home buyer, but also must know
how to work with the listing agent. A buyer's agent can:
1. Give a negative opinion or critique of a seller's property beyond disclosing
defects.
2. Recommend or suggest an offering price or give you an opinion about whether
a particular house is priced too high or too low.
3. Structure the offer and draft offer provisions with the buyer's best interests
in mind.
4. Recommend and assist the buyer with negotiation strategies for the best price
and terms.
5. Disclose all information and research a property's history and liens so the
buyer can make an informed decision.
6. Give advice within the scope of the agent's expertise as a licensed real
estate professional.
This buyer agency information is from the Wisconsin Realtors
Association.
(See below link)
http://www.wra.org/consumer_resources/buy_guide/buyer_agency.htm