Here's a brief summary of how we serve our buying clients and how the buyer agency agreement works. Do you have questions about how a good buyer agent can help you? We'll be happy to answer them. Contact us at any time. We assist buyers in Madison, Dane County and South Central Wisconsin.
How we help you as your buyer agents
Here are just a few of the ways that we can assist you as you go about the process of buying your new home, condo or investment property:
1. Answer your questions about the market. Do you have questions about specific communities or neighborhoods? About the market in general? We'll use our knowledge of the MLS database to answer your questions with objective data.
2. Connect you with a lender who will help you obtain the right financing for your situation. If you don't already have a lender, we can connect you with one that is a great fit for your situation. Whether you are a first-time or luxury home buyer, whether you are in the single family home, condo, or investment market, we can connect you with a lender who will help you obtain the financing that is the best fit for you.
3. Simplify your property search. We'll send you email updates whenever new properties matching your criteria become available, or when existing listings drop their price and become available in your price range. The email notifications ensure you learn about any new properties - and new price changes - as soon as they hit the MLS.
4. Provide you with the very best property search tools. If you are someone who likes to search the internet for available properties, we have the search tools for you. We have over two dozen search tools that make it easy for you to find your dream home, with more tools arriving soon. Stay tuned for our new tool that will make it easy for you to search for properties by school and school district.
5. Coordinate all of your showings. We'll save you time by scheduling all of your showings for you. Prior to your showings, we'll research each listing so you know each property's price history as well as how long each property has been on the market. We are a team of 5 licensed real estate agents. If your lead agent is unavailable for an urgent showing request, one of our other agents will be able to assist you with your showing.
6. Help you learn more about communities, neighborhoods, and school districts. Do you need help finding the location that is the best fit for your lifestyle and family? Our full-service real estate team is here to help. We will take you on introductory tours of different neighborhoods and cities. We'll provide your with online resources that will help you learn more about individual communities, neighborhoods and schools. We'll introduce you to people who live in specific neighborhoods and school districts, so you can gain their valuable insights. And of course, we'll introduce you to a variety of homes, so you can better understand how the homes vary from one neighborhood to the next.
7. Ensure you negotiate with knowledge. Once you find the home or condo for you, we'll help you prepare for your negotiation by performing an in-depth review of the property. For example, we'll research the property's transaction and listing history. We'll review the mortgages (and amounts) that have been taken out on the property. We'll check for back property taxes owed. We'll look for evidence of construction liens and other liens. We'll also research the sales history for comparable properties in the area.
8. Help you select a top notch home inspector. Choosing the right home inspector is a very important decision. We recommend you select a home inspector who uses the latest tools and technologies to detect hidden defects. Many of our clients select a home inspector who is able to detect moisture and mold issues the average inspector would miss. Our inspector is able to do so because he uses a moisture probe and a thermal imaging camera to detect hidden moisture intrusions behind walls, in the ceiling, underneath the flooring, etc...
Just as important, our home inspector uses a digital camera to document all defects in the inspection report. Many home inspectors do not use pictures, but as the saying goes, a picture is worth a thousand words. Sellers are much more likely to agree with a finding when a picture clearly exposes the defect (pictures are especially helpful when the seller no longer lives in the home).
9. Protect your interests every step of the way. We'll assist you through every phase of the process - from the structuring of your offer through the day of your closing. We'll work closely with you so you understand each step, including your responsibilities and your rights. That means we'll help you manage your financing, testing, and inspection contingencies. We'll attend your inspection and help you plan the course of action that will follow your inspection. We'll work to ensure every detail of your transaction is properly addressed prior to your closing.
10. Provide you the very best in service. Our number one goal is to provide you the very best in service as you go about the process of buying your new home. We'll answer all of your questions, and we'll do all that we can to address every one of your needs and requests along the way. We'll be happy to provide you with references from recent clients, at your request.
What is a buyer agency agreement?
Buyer agency is a service agreement that you enter into with the brokerage of the Realtor who is assisting you with the purchase of your home. The agreement is voluntary. Among other things, it clarifies the relationship between you and your Realtor's brokerage and outlines the duties that are owed to you, the client.
Benefits of buyer agency and working with a buyer agent
When we enter into a buyer agency agreement together, we are required to serve you as our client. As our client, you receive a number of benefits, including:
1. We act as your advisor, by providing you with information and advice on the real estate matters that affect your transaction.
2. We protect and advance your best interests. When you are our sole client, we work for you. We don't provide advice to any other parties in your transaction. Our number one job is to serve your interests and your goals.
3. We negotiate for you and carry out your negotiation according to your directions. We help you formulate your strategy by providing you with the information, research and advice that is relevant to your purchase.
Note: Lines 53 through 77 of the Wisconsin buyer agency/tenant representation agreement outline all of duties that are owed to buyer clients. We'll be happy to sit down and discuss the details with you at your convenience.
Buyer Agency - frequently asked questions
1. I'm interested in a property. Should I work with the listing agent to write my offer? Keep in mind the listing agent works for her client, the seller. Her job is to advance the seller's interests, not yours. When you work with a buyer agent, your agent works to protect and advance your interests.
2. How long does a buyer agency agreement last? The agreement lasts for as long or as short as you want it to last. There is no set timeframe for a buyer agency agreement. The length is customizable, and it can even be written to apply to a single property.
We've found many buyers like to structure the buyer agency agreement for a single property, and for two main reasons. First, it allows the buyer to retain full representation during the negotiation and offer process. Second, it gives the buyer and the agent some time to work with each other before they commit to a longer time period.
3. Who pays my buyer agent's commission? Most buyer agency agreements are structured such that the seller is responsible for paying your agent's commission. Properties listed on the MLS (Multiple Listing Service) will state the commission the seller is offering the broker of your buyer agent.
Many FSBO (for sale by owner) sellers are more than willing to pay a buyer agent's commission; a few are not. We can clearly specify in your buyer agency agreement how commission payment will be handled for both MLS and FSBO properties.
This information is provided courtesy of Dan Miller, Shawn Kriewaldt, Chris Venden, Dasha Shy, and Jodi Shehadi of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
Don't forget: if you're buying or selling, whether your timeline is 3 months or 3 years, we can help.