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Wisconsin Agency Law provides for different types of relationships between buyer and Realtor®:
In the traditional buying process, a real estate agent who is working with a buyer without an agency contract is, by law, working on behalf of the seller.
Buyer Representation (Buyer Agency) was created in response to buyers’ desires to have agents work in their best interests as opposed to the sellers’ best interests.
Multiple representation occurs when one agent within a brokerage firm provides, by contract, brokerage services to more than one client (Buyer/Seller) in a transaction with the consent of all the clients. Wisconsin law requires specific disclosures to both Buyer and Seller in such transactions.
|Service Provided:||Buyer Representation||Traditional Buying Process|
|Express a professional opinion of the seller’s asking price, based on a Comparative Market Analysis prepared for you||Yes||No|
|Recommend and assist you with negotiation strategies for best price and terms||Yes||No|
|Negotiate exclusively on your behalf throughout the transaction||Yes||No|
|Critique a seller’s property beyond disclosing defects||Yes||No|
|Advise on, write the offer, and draft provisions in your best interests||Yes||No|
|Protect your confidentiality||Yes||Yes|
|Treat you honestly and fairly||Yes||Yes|
|Respond honestly and accurately to questions concerning the property||Yes||Yes|
|Provide community data and current market conditions||Yes||Yes|
|Present contract proposals in an objective and unbiased manner||Yes||Yes|
|Accompany you to the closing and assist you throughout the process||Yes||Yes|
|Disclose “adverse material facts” about the property||Yes||Yes|