FAQ: Frequently Asked Questions
Q: How are you paid?
A: We are paid by the listing broker at closing on MLS properties. On F.S.B.O. and foreclosures we are paid by the seller at closing.
Q: Will you take me to look at houses and condos?
A: Yes. We work seven days a week and have a key to all MLS properties so we can tour at your convenience. We like to give sellers a 48 hour notice that we are coming.
Q: How do you know what I am looking for in a home?
A: You will tell me. We will do an interview to sort out NEEDS WANTS AND DESIRES. With an unlimited budget you can have all three but for the rest of us we have to have priorities.
Q: Can I bring my family to look at listings?
A: Yes. It can be a long day looking at properties so if children are along I cut back from about 15 a day to about 5. Having raised three kids I know when enough is enough for them. I have had clients with limited time to look and have toured up to 26 houses in one day but they do start to run together at that point.
Q: Will you help me find a home in a different state?
A: Yes. We belong to the National Association of Exclusive Buyer Agents and can refer you to a member within the area you are looking.
Q: Do you work with custom home builders?
A: Yes. Custom home builders have a built in marketing expense and are happy to have a Buyer Agent bring a customer. As an independent broker I can recommend which Builder is right for you without any conflict of interest.
Q: Will you help me find a mortgage broker?
A: Yes. We have worked with many good local lenders and can recommend several that would be best able to help in your particular situation.
Q: What if I want to purchase a " For Sale By Owner " or " New Construction" or a " Foreclosure"?
A:A buyer needs representation on all properties and especially on these three types. It is always "Buyer's Beware" but these three can provide additional problems that we handle at no extra cost to you.
Q: If the agent usually works on a commission, what is the agent's incentive to save me money when negotiating in my behalf?
A: Honesty. Integrity. Wisconsin Law. A Buyers agent is always looking out for the buyer. Also the change in the fee would be nominal and to worry about that an agent would soon be out of business.
Q: How does the buyer agent find out about all the homes that might meet my needs?
A: Technology, word of mouth, referrals and print media.
Q: I heard that buyer agents want me to sign a contract that would tie me up to only work with them. What if I wanted to work with other agents?
A: Wisconsin Law states that without a Buyer Agency Agreement the agent is working for the seller. It protects the buyer and myself. Wisconsin has "Procuring Cause" which decides who brought the buyer and who gets the commission. I do enjoy my work but also enjoy getting paid. If you would stop at an open house or call a listing agent you could lose your right to representation. If you want to work with the listing agent directly, who represents the seller, then Riley Real Estate can not help you.
Q: Do I really need an Exclusive Buyer's Agent?
A: Yes, if you want someone looking out for you first.
Q: I'm a sophisticated individual. I can protect myself in a real estate transaction as either a customer or a client, why would I want your services?
A: As a sophisticated individual you know all the pitfalls that can occur and that is wise to have a no cost advocate.
Q: What about inspections?
A: We highly recommend a professional inspection. We write this into all offers and always are present for them. It is great if the buyer can also be there as it is quite educational. I have had clients from out of the area that could not get back for the inspection and have taken care of it. There is a 25 page report with many pictures that can be emailed so we can handle if the buyer can not be there.