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In Wisconsin, a homebuyer 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 Broker Disclosure to Customer
form that lists the fair treatment duties owed to you and
indicates that the selling agent is either an agent of the seller or an agent of the listing broker (subagent).
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 homebuyer,
but also must know how to work with the listing agent. A
buyer’s agent can:
- Give a negative opinion or critique of a seller’s
property beyond disclosing defects.
- Recommend or suggest an offering price or give you an
opinion about whether a particular house is priced too high
or too low.
- Structure the offer and draft offer provisions with the
buyer’s best interests in mind.
- Recommend and assist the buyer with negotiation strategies
for the best price and terms.
- Research and disclose all information and research a property’s
history title and liens so the buyer can make a better informed
decision.
- Give advice within the scope of the agent’s expertise as
a licensed real estate professional.
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