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Phone: (262) 695-5157    Mobile: (262) 370-4345
The Lucas Team
For All Your Real Estate Needs
What is Buyer Agency?
  

 

What is Buyer Agency?



   Purchasing a home should not be a complicated process.  Understanding the
underlying agency relationships, helps everyone involved have clear expectations.


   In a real estate transaction there is a legal difference between a
customer and a client.  A client is in a contractual relationship with the broker/agent.  More fiduciary duties are owed to a client than a customer.


   For example, Wisconsin law requires all real estate agents to disclose any known defects of a property to their customers and clients.  However, a real estate sales person is not allowed to interject their opinion on condition, location, schools, value etc. to customers.  Nor are they allowed to point out any factors influencing value or appeal that a buyer customer could discover on their own.

   By default, the seller is the client of a sales agent when they are showing a house to a customer.  A buyer agency contract, turns that buyer into the client and turns the seller into the customer.  In part, this allows the agent showing the home to interject their professional opinion on all aspects of the property, provide the buyer with a market analysis by analyzing sales of similar homes in the area and generally do a better job of protecting the buyers interests.


   Most often, once a buyer understands the difference, they will choose to enter into a buyer agency agreement.


   I do not charge for buyer agency representation.  Any compensation I receive will be paid through the MLS co-broke commission offered by the listing
broker of the property you select.


   I will be happy to explain buyer agency more completely if you so desire.

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Realty Executives Integrity
810 Cardinal Ln • Hartland, WI 53029
Phone: (262) 695-5157 • Mobile: (262) 370-4345
Office Phone: (262) 369-8900
Fax: 888-380-5492

Waukesha County Lake Country AreaHartlandWauwatosa

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