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Real Estate Buyer's Representative
Sunday, February 25, 2024
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What is a Real Estate Buyer's Representative?

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A real estate Buyer's representative exclusively represents the Buyer who is purchasing a property in a real estate transaction. The Buyer's representative works for, and owes fiduciary responsibilities to, the real estate Buyer and has the Buyer's best interests in mind throughout the process. The Buyer's Representative has the obligation to advocate for the Buyer. Most real estate agents in Wisconsin represent the property Sellers interests while working with real estate Buyers. Real estate agents are permitted to assist Buyers conclude their real estate purchases when, in actual fact, the agent is representing the interests of the property Seller. This permitted system of real estate interaction is customary in Wisconsin. However, there's a better way. Buyer's can achieve a higher level of real estate services by hiring a Buyer's Representative.

It's important for the Buyer to discuss compensation with the Buyer's representative at the time of the initial interview. In many cases it's recommended that the Buyer and the Buyer's representative agree to the terms of compensation prior to viewing properties, and sign a written agreement based on those terms. The agreement should spell out the responsibilities of both parties throughout the process.

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