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Here's a brief summary of how we serve our investor clients and how the buyer agency agreement works. Do you have questions about how a good investment advisor can help you? We'll be happy to answer them. Contact us at any time. We assist multifamily investors in Madison, Dane County and South Central Wisconsin.
How we help you invest in multifamily real estate
Here are just a few of the ways we assist you with your property acquisition and investment goals. 1. Obtain a solid understanding of your investment goals. First, we'll meet with you to learn more about your short-term and long-term objectives. We'll discuss the types of multifamily properties that will help you reach your goals. Then we'll cover your property management and financing strategies. We'll also identify any other resources that will help you carry out your plan. For example, if you are in need of financial, accounting or legal advice, we can introduce you to other experienced professionals who have a solid background in multifamily real estate. 2. Provide you with tools that will help you evaluate individual properties. We will be happy to share our property evaluation tools with you, which you can then use to assess individual properties. 3. Identify solid investment opportunities that are in alignment with your goals. We'll leverage our resources and knowledge of the market to identify properties that are a good match for your goals. Our resources include the South Central Wisconsin MLS, LoopNet, FSBO sites, the Apartment Association of South Central Wisconsin, and contacts within the lending industry who are in charge of liquidating foreclosed properties. 4. Coordinate all of your showings. We'll save you time by scheduling all of your showings for you. Prior to your showings, we'll research each property so you know each property's price history as well as how long each property has been on the market. 5. Research costs. When we find a good candidate for you, we will help you flesh out the property's costs so you can obtain a solid understanding of the expenses that go into repairing, maintaining and managing the property. As needed, we will arrange for other professionals to visit the property and provide estimates that will help you better understand your ownership costs. 6. Research revenues. We will help you better understand the rents and rental history for your property of interest. We'll also provide you with a good understanding of the current rents for competing multifamily properties in the same neighborhood. 7. Review your business plan. We are happy to review your business plan, including your revenue and expense assumptions. 8. Ensure you negotiate with knowledge. We'll help you prepare for your negotiation by performing an in-depth review of the property. For example, we'll research the property's transaction and listing history. We'll review the mortgages (and amounts) that have been taken out on the property. We'll check for back property taxes owed. We'll look for evidence of construction liens and other liens. We'll also research the sales history for comparable properties in the area. 9. Protect your interests every step of the way. We'll assist you through every phase of the process - from the structuring of your offer through the day of your closing. We'll work closely with you so you understand each step, including your responsibilities and your rights. That means we'll help you manage your financing, testing, and inspection contingencies. We'll attend your inspection and help you plan the course of action that will follow your inspection. We'll work to ensure every detail of your transaction is properly addressed prior to your closing. 10. Assist you with the marketing of your rental units. After you purchase your property, we can assist you with the marketing of your rental units to help you eliminate any vacancies as quickly as possible. We have the tools and internet savvy to get your marketing off to a great start. 11. Provide you the very best in service. Our number one goal is to provide you the very best in service as you go about the process of carrying out your investment plan. We aim to be your investment advisors for life. For references, please feel free to contact us. We are happy to share our references with you.
What is a buyer agency agreement?
Buyer agency is a service agreement that you enter into with the brokerage of the Realtor who is assisting you with the purchase of your investment. The agreement is voluntary. Among other things, it clarifies the relationship between you and your Realtor's brokerage and outlines the duties that are owed to you, the client.
Benefits of buyer agency
When we enter into a buyer agency agreement together, we are required to serve you as our client. As our client, you receive a number of benefits, including: 1. We act as your advisor, by providing you with information and advice on the real estate matters that affect your transaction. 2. We protect and advance your best interests. When you are our sole client, we work for you. We don't provide advice to any other parties in your transaction. Our number one job is to serve your interests and your goals. 3. We negotiate for you and carry out your negotiation according to your directions. We help you formulate your strategy by providing you with the information, research and advice that is relevant to your purchase. Note: Lines 53 through 77 of the Wisconsin buyer agency/tenant representation agreement outline all of duties that are owed to buyer clients. We'll be happy to sit down and discuss the details with you at your convenience.
Buyer Agency - frequently asked questions
1. I'm interested in a property. Should I work with the listing agent to write my offer? Keep in mind the listing agent works for his client, the seller. His job is to advance the seller's interests, not yours. When you work with a buyer agent, your agent works to protect and advance your interests. 2. How long does a buyer agency agreement last? The agreement lasts for as long or as short as you want it to last. There is no set timeframe for a buyer agency agreement. The length is customizable, and it can even be written to apply to a single property. We've found many buyers like to structure the buyer agency agreement for a single property, and for two main reasons. First, it allows the buyer to retain full representation during the negotiation and offer process. Second, it gives the buyer and the agent some time to work with each other before they commit to a longer time period. 3. Who pays my buyer agent's commission? Most buyer agency agreements are structured such that the seller is responsible for paying your agent's commission. Properties listed on the MLS (Multiple Listing Service) will state the commission the seller is offering the broker of your buyer agent. Many FSBO (for sale by owner) sellers are more than willing to pay a buyer agent's commission; a few are not. We can clearly specify in your buyer agency agreement how commission payment will be handled for both MLS and FSBO properties.
About us
This information is provided courtesy of Dan Miller, Shawn Kriewaldt, Chris Venden and Christy Jackson of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact: Don't forget: if you're buying or selling, whether your timeline is 3 months or 3 years, we can help.
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